Keeping multiple Demat accounts has been a trend among stock market investors. There are several reasons to do so. For example, it allows you to trade with competitive brokerage rates and access market insights from stockbrokers.
However, one disadvantage of having multiple Demat accounts is that you cannot get an integrated view of your overall investment portfolio and know the accurate returns you generate at a given time. Additionally, jumping from one trading platform to another during busy market hours can be a hassle.
You can register for the “EASIEST” facility under the Central Depository Services Limited (CDSL) to eliminate this. Scroll down to learn about the EASIEST facility and how you can register for it.
Start Investing with Free Expert Advice!
‘EASIEST’ stands for Electronic Access to Securities Information and Execution of Secured Transactions. It is an internet-based facility offered by the CDSL that allows you to access and manage multiple Demat accounts on a single platform.
Through the CDSL EASIEST facility, you can provide off-market, on-market, debit, or credit instructions to your Depository Participant (DP). Additionally, you can check the details of your holdings anytime and from anywhere and even transfer them from one Demat account to another.
You must visit the EASIEST portal and log in using your user credentials. However, you need first to register yourself to use this facility. The registration process is discussed below.
To register for the CDSL EASIEST facility, you are required to visit the CDSL website and follow a few simple online steps, which are as follows:
Step 1 – Visit the official CDSL website < https://www.cdslindia.com/> and click on the “Login” button on the top-right corner of the home page
Step 2 – Select the option “My Easi New (Token)”, and then click on the “Login” button
Step 3 – A new window will open in front of you. Click on the relevant link below the “Forgot Password” option to register for the EASIEST facility.
Step 4 – Enter the 8-digit DP ID and client ID (the Beneficial Owner or BO ID). If you don’t know your DP ID and BO ID, you will get it on your stockbroker’s trading platform. After entering the DP ID and BO ID, accept the Terms and Conditions and click the “Submit” button.
Step 5 – You will receive a One-Time Password (OTP) on your registered mobile number. Enter that OTP and click on the “Continue” button.
Step 6 – In the “Account Details” section, enter a preferred username, select a security question, confirm your answer, and select the “Trusted Account” checkbox before clicking on the “Continue” button. Trusted accounts allow you to transfer your securities through a ‘PIN.’
Step 7 – Enter the 16-digit Demat ID of your trusted account and validate it using the OTP sent to your registered mobile number. Then, click on the “Continue” button.
Step 8 – In the “Grouping” section, you can group your existing CDSL Demat accounts with multiple stockbrokers. You can skip this step if there are no pre-approved Demat accounts for grouping.
Step 9 – You will reach the last stage of your CDSL registration process. Once you have entered all the details, they will be sent to your stockbroker for validation. The stockbroker may take 24-48 hours to validate the details.
Step 10 – Once the validation is successful, you will receive your login credentials on your registered mobile number and e-mail address. You can use these credentials to log into the EASIEST portal and access the available facilities.
As you can see, registering for the CDSL EASIEST facility involves a simple online process you can complete anytime and anywhere. Registering for the EASIEST facility has several perks, as it allows you to submit freeze, unfreeze, off-market, on-market, and debit/credit instructions from your Demat accounts.
If you don’t possess a Demat account, you can open it for free with Motilal Oswal and experience seamless trading at highly competitive brokerage charges.