How to check demat account balance with CDSL?
As a reminder, a demat account is essential for holding and trading in electronic securities. It is an electronic account that functions similarly to a savings account, but instead of storing cash, it stores electronic securities such as stocks, bonds, and mutual funds. Checking the balance of your demat account is an important part of tracking your investments and ensuring that you have enough securities to meet your investment goals. In this guide, we will explore the various ways to check the balance of your demat account with CDSL in detail.
Method 1: Online through CDSL website
One of the easiest ways to check your demat account balance with CDSL is through their website. But before you can do this, you need to have a valid login id and password for the CDSL website. If you don’t have one, you can easily register for one by visiting the CDSL website and following the instructions provided. Once you have a valid login id and password, you can follow the steps below to check your account balance.
- Visit the CDSL website.
- Click on the ‘Login’ button and enter your login id and password.
- Once logged in, click on the ‘My Account’ tab.
- Under the ‘My Account’ section, you will find the details of your demat account, including the number of shares and their current market value, and your account balance.
Method 2: Through your Depository Participant
Another way to check your demat account balance with CDSL is by contacting your Depository Participant (DP). A DP is an intermediary between you and CDSL and is responsible for maintaining your demat account. Every registered demat account holder has a DP associated with their account, and they are the ones who will provide you with updates on your account. To check your account balance through your DP, follow the steps below.
- Contact your DP over the phone, email, or in-person, and provide them with your account details and any other required information for verification.
- The DP will then check your account balance and provide you with the necessary details, including the number of shares and their current market value, and your account balance.
- Alternatively, you can also request for a physical statement of account that will contain all the necessary details regarding your account.
Method 3: Through NSDL and CDSL Mobile Applications
NSDL and CDSL, the two major depositories in India, also offer mobile applications that allow you to check your demat account balance on the go. To use this method, you must have a smartphone and an active internet connection. The steps to check your account balance through these apps are as follows.
- Download the NSDL or CDSL mobile application from the Google Play Store or Apple App Store.
- Once downloaded, open the application and log in using your registered ID and password or by completing the registration process if you haven’t registered already.
- Once logged in, you can check the balance of your demat account, view your transaction history, and perform other tasks related to your account.
Benefits of Checking Your Demat Account Balance
Checking the balance of your demat account with CDSL offers several benefits, including:
- Keeping track of your investments: Regularly checking your demat account balance helps you stay updated on your investments’ performance and take appropriate action as needed.
- Timely decision making: Knowing your account balance enables you to make timely decisions regarding buying, selling or holding securities, maximizing your investment returns.
- Ensuring Portfolio balance: Checking your portfolio balance helps you ensure that your investment is well-diversified and not overly reliant on one security.
- Preventing Misrepresentation: Regularly checking your demat account balance helps you detect any unauthorized transactions or misrepresentations in your account.
- Easy tracking of corporate actions: By checking your demat account balance, you can easily track corporate actions such as dividends, bonus issues, rights issues, etc., and take the necessary action regarding the same.
By Astrobulls research pvt ltd