A demat account is like a wallet or bank account to store your securities. If the person wants to buy the securities like bonds and shares, they must have a demat account, as an important requirement.
A demat account is only one that allows the person to store their securities digitally. Bank accounts let the account holders check their account balance or bank statements, either online or passbook. A demat account works exactly like this.
The demat account also allows the account holders to view the transactional history. But the question is how to check the demat account status.
Demat account statement
In India, there are two types of accounts used to store the shares that investors purchase.
- These accounts act like the two depositories in digital form. The first depository is NSDL, national securities depository limited, and the second depository is CDSL, central depository services limited.
- It is important to remember that these two depositories do not directly receive the shares from investors.
- Instead of it, they first go through the SEBI registered depository participant and play the important role of agent for that depositories.
- However, it is important to have the trading and demat account held with a depository participant if you want to trade shares.
How to get the demat account statement
The CDSL website provides an online platform for all investors to check their demat account holding statement. Here are the simple steps to follow to check the demat account statement.
- Visit the official CDSL website.
- On the homepage, go to quick link tabs, tap on the login, and log in to CAS.
- Next, place your PAN number
- Then, you have to enter your demat account number
- Place the other data like your date of birth and do the complete captcha
- Tap on submit
- Now, you will get the OTP on your registered phone number used for login authentication.
If you enter all the details correctly, you can check the demat account statements.
Things to consider while checking the demat account statement
Once the person gets access to view their CAS, and check their demat account statement, then there are many things you should consider to correctly interpret the data.
Personal details The first important thing to consider, even before viewing the data, is to verify that you have access to the right account and that all their credential exists in the right place.
Folio number
Every investor needs to remember their unique folio number because it works like the identity stamp for all future investments made by them.
Fund names and options
It will show the title of funds to users along with the growth of funds and dividend payments.
Conclusion
Demat accounts let investors electronically store their securities. It is important for traders to correctly interpret the data and become the top investor; that is only possible by paying attention to checking the demat account holding statement.
