Okay, let’s make ourselves clearer! Is my Demat account number same as my DP ID?
The answer to that question is – No! Definitely No.
The Demat Account Number and DP ID are two different identifications for two different audiences.
How? Well, let’s understand this once for all in this detailed review.
What is a Demat Account Number?
A Demat Account number is your personal identification number assigned to you by the Depository Participant with which you have opened your account. It is equally important to learn even if you are about to open a demat account. In the case of CDSL, the demat account number is called BO ID or Beneficiary Owner ID.
Depending on the depository in context, the Demat Account number varies in its format although it stays as a 16 character long identification. For CDSL, all 16 characters are Numeric in nature (for instance 1765432190908765) while for NSDL, the first two characters are alphabetic (‘IN’) and the rest 14 – numeric (for instance (IN17654321909087).
What is a DP ID?
As far as DP ID is concerned, it has nothing to do with you. It is a number allocated to a Depository participant such as Angel Broking or Zerodha by the Depository – CDSL (Central Depository Service Limited(CDSL) or NDSL (National Securities Depository Limited).
How are the Demat Account Number and DP ID connected?
Within your Demat Account number 0f 16 digits, the first 8 digits are the DP ID. Thus, anyone who has opened a Demat account with your stockbroker – these first 8 digits will stay the same.
The last 8 Digits of your Demat Account Number are what basically make your Client ID. This is your identification with this Depository Participant. In a sense, what the depositories are telling the stockbrokers (implicitly) is – Open 1 Crore Demat accounts and then we will change the configuration of the Demat Account number.
For instance, reconsidering the examples mentioned above:
For CDSL – 1765432190908765 – The DP Id is 17654321 and the Client Id is 90908765. Together they make the Demat Account Number.
For NSDL – IN17654321909087- The DP Id is IN176543 and the Client Id is 21909087. Together they make the Demat Account Number.
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