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6 Things to Know About CSDL Demat Account

31 Jul 2023

Your trading journey begins with opening a trading, and Demat account with a Depository Participant (DP). While you may start trading in limited stocks, as you gain experience, the scope will likely increase to multiple securities. This leads to your desire to track your holdings without depending on your stockbrokers entirely. 

Before monitoring your holdings through a Central Depository Services Limited (CDSL) Demat account, you must know a bit about CDSL. 

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What is CDSL?

The Central Depository Services Limited (CDSL) is a licensed depository in the Indian securities market governed by the government. It includes many banks, such as HDFC Bank, Axis Bank, Standard Chartered Bank, Bank of Baroda, Union Bank of India, State Bank of India, and Bank of India as its participants. 

The CDSL operates with the Bombay Stock Exchange (BSE) and holds different securities, such as shares, stocks, property, etc., in electronic form. 

Six features of a CDSL Demat account

Unique number format

India has two depositories - the National Securities Depository Limited (NSDL) and the Central Depository Services Limited (CDSL). A DP can register your Demat account with either of the two. If you have a CDSL Demat account, it will have a 16-digit account number. On the other hand, if you have an NSDL Demat account, it will have a 14-digit alphanumeric combination. 

Hassle-free internet-based portal

CDSL Easi is an online facility by CDSL. It stands for ‘Electronic Access to Securities Information.’ Demat account holders can use it to manage and monitor holdings and securities from anywhere, at any time. You can use the internet-based portal to view your Demat accounts and check your transactions and holdings from the depository’s website. 

Convenient account logins and registrations

You must complete registration on CDSL Easi to understand the working of the CDSL Demat account. The steps to register yourself and start using the login details to view all your account-related information from one place are mentioned below:

  • Head to CDSL’s official website (www.cdslindia.com)
  • You will see a ‘login’ button at the top right corner of the home page. Click on it 
  • A popup will appear. Pick the topmost choice - ‘New System MyEasi’
  • After you’ve made the selection, press ‘login.’ You will arrive at another page with a new popup. Click on ‘To Register for Easi! Click Here’
  • Enter all the required details accurately. This includes your Beneficiary Owner Identification Number (BO ID), which is a 16-digit Demat account number, and a password in the mentioned format
  • After entering all the essential details, you will see a message for successful registration 
  • Use your CDSL Demat login credentials to access your account on the portal

No fees

A DP opens a CDSL demat account. Thus, the depository does not levy any fees or charges for the account. There are no charges for the CDSL Easi portal as well. 

Track holdings-related corporate announcements

When you log in to your CDSL Demat account, you can view corporate announcements related to your holdings. Besides, you can add a maximum of 25 International Securities Identification Numbers (ISINs) for shares and securities you don’t currently hold to monitor their performance.

Other benefits 

The electronic portal of your CDSL Demat account enables you to perform many other actions, such as:

  • Search and monitor different Demat accounts with a single login ID
  • Verify and print the details of your Demat account holdings’ value
  • Update and print the last week’s value of holdings and purchases 

Conclusion

A CDSL Demat account is a must-have to trade in the stock market. With people’s growing interest in trading, DPs have made the process of opening and operating a Demat account more efficient and convenient. You can use the account to store and transfer securities. Moreover, you can enjoy a realistic and streamlined trading experience if you know the six vital features of a CDSL Demat account.

Reach out to a trusted DP, like Motilal Oswal, to open your Demat account today. 

 

Related Articles: How to Open a Demat Account Without a Broker | Factors to Keep in Mind While Opening a Demat account | Factors to Consider When Opening a Demat Account 

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