A Demat account is mandatory to trade securities like stocks, commodities, currency, derivatives, and mutual funds. When you open a Demat account, you are required to register with a Depository Participant (DP). They act as an agent or an intermediary between you (the investor) and the depository. A DP can be a brokerage firm, a financial institution, and a bank.
Upon opening the Demat account online, the depository (CDSL or NSDL) sends a welcome letter containing all the account information, including the Demat account number, to the account holder.
What Is a Demat Account Number?
Also known as Demat ID, the Demat account number is a 16-digit unique number assigned to the account holder. The format of the Demat account number varies based on the CDSL or the NSDL. It is made of 16-digit numeric characters in CDSL, whereas in NSDL, it starts with “IN” followed by a 14-digit numeric code.
An example of a Demat account number with CDSL can be 01234567890987654, whereas, with NSDL, it can be IN01234567890987.
Often, investors and traders confuse DP ID for the Demat account number. But they are not the same. Let’s learn the difference and how to find them.
What Is a DP ID, and How Is It Different From the Demat Account Number?
DP ID has nothing to do with the Demat account holder. It is a number allocated to the Depository Participant by the Depository – CDSL and NSDL.
A Demat account number is a combination of the DP ID and the Beneficiary Owner (BO) ID of the Demat account holder. Usually, the first 8 digits of a Demat account number form the DP ID, and the last 8 digits make up the BO ID.
How To Find the Demat Account Number and DP ID on Angel One?
Finding your Demat Account number on Angel One is a three-step process. Simply follow these steps:
Step 1: Launch the Angel One app
Step 2: Head to the ‘Account’ section
Step 3: Click on your profile in the top right corner of the screen
You will find your Demat account number just below your Customer ID.
Now that you have found your Demat ID, identifying the DP ID is quite simple. As discussed earlier, the first 8 digits of your Demat ID is the DP ID.
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Are the Demat account number and DP ID the same?
No. The Demat account number and DP ID are not the same. While the Demat account number is a 16-digit unique number assigned to the account holder, the DP ID is an 8-digit number allocated to the Depository Participant by the Depository.
Are the Demat ID and Demat account number the same?
Yes. The Demat ID and Demat account number are the same.
How to find the BO ID and DP ID on Angel One?
- Launch the Angel One app
- Head to the ‘Account’ section
- Click on your profile in the top right corner of the screen
- You will find your Demat account number below your Customer ID
- The first eight digits of the Demat ID represent the DP ID and the last eight digits make the BO ID.