With a Demat account, you can access many investment or trading options. The Demat Account Number is significant in these processes since it is a unique ID for you that helps you carry out these exchanges. But how to find Demat Account Number From PAN.
This article discusses how to find Demat Account Number From PAN. You will find this number easily once your account has been successfully created.
How To Find Demat Account Number From PAN Card?
Let us start with the basics of creating a Demat account and how you will receive your Demat Account Number. Demat account stands for a Dematerialized account. This account is a space to store all your share certificated digitally safely.
Creating A Demat Account
Opening a Demat Account is a relatively straightforward process. You can either open it online or offline. You will need to fill up your correct information and submit your documents through an online portal, or you can also visit a bank or a brokerage firm that offers Demat Services.
To open an account, you will be required to submit necessary documents like proof of address, bank account, identity, PAN card, etc. You can open only a Demat account, or you can go for a three-in-one account. Many funds or brokerage firms allow the latter. These are Demat Accounts used for saving, trading, and Demat all at once.
The bank or financial institution will take four to seven days to create your account. Once created, you will be notified through a letter by the depository house.
In India, two depository houses, CSDL and NSDL, regulate Demat accounts. When the account creation has been done and all your documents are verified, you will receive a letter from the depository house that your bank or brokerage firm is affiliated with. Some banks or firms can be affiliated with both depository houses.
The letter could be sent online or via email. You can give your preference. However, you will likely be charged for receiving the letter offline via courier. The letter will contain a welcome introduction, important information regarding your account, and your Demat Account Number.
Demat Account Number
The Demat Account number is a unique identification of 16 characters. The format or design of your Demat Account number depends on the depository house your bank is affiliated with. If you receive the letter from CDSL, your Demat account number will be stated on the letter as beneficiary owner ID or BO ID. Your BO ID will be a 16-digit numeric character.
If you receive the letter from NSDL, your Demat account number will also be a 16-digit long number, but it will start with ‘IN’ followed by a series of numbers.
Your Demat Account Number comprises depository participant (DP) ID and customer ID. DP ID is the unique ID given to the depository house. Customer ID is a similar ID assigned to each customer individually.
The first eight characters of the Demat account Number will be DP ID and the latter eight customer IDs. To get a Demat account Number from PAN Card, you need to have a registered email address, on which the depository houses can send their letters. If you do not have so, you can not get a Demat account Number from PAN.
To Sum It Up
This article discusses how you can find the Demat account Number from PAN. This is a simple process done quickly as soon as the account is created. You will receive a letter from the depository house that will contain all information you need to know along with the Demat Account Number.