Demat Account No. is a 16 digit/alphanumeric ID which is a combination of DP ID and BO ID.
Let’s explain:
DP stands for Depository Participant and BO stands for Beneficiary Owner or client
CDSL and NSDL are the only two Depositories in India offering depository services to the investors through Depository Participants or brokers under strict guidelines of SEBI as well as RBI.
CDSL-Central Depository Services Limited
NSDL-National Securities Depository Limited
- DP ID provided by CDSL to Depository Participants or brokers and it is an 8 digit No. (Ex: 12345678)
- DP ID provided by NSDL to Depository Participants or brokers is an 8 character alpha numeric ID which starts with IN followed by 6 digits. (Ex: IN123456)
- BO ID (Beneficiary Owner) is an 8 digit No. provided by the DP/broker to the client.
- Demat Account=DP ID + BO ID