To do effective trading in the stock market, having a Demat account is one of the essential requirements that you have to comply with. The Demat account is regulated by the depository houses like CDSL and NSDL. You can get a free Demat account online or through the depository participants to have an account. Like a bank account, every user could need to access the transaction report or even the balance in their account.
With the Demat account, you can also check the balance or statements of your shares; if you are wondering how? You will get the answer as you read this article.
A Demat account is similar to most accounts in a bank. However, the difference with the Demat account is that you use it to store your digital assets, and through it, you can exchange and trade. With the Demat account, you can transfer shares or buy and sell, access your account and retrieve the statement.
How to check shares in a Demat account?
Checking your share balance in your Demat account is a simple task. Since this is a digital repository, you will need a mobile or laptop to access the website or depository participant application. On the application or the website, you will have the option to view your share or Demat account statement. Also, the depository offers you additional features like graphs and charts that you can get more insight into your Demat holding share statement.
Since you can have a diversified portfolio on the stock market, meaning you will have more than a Demat account with different depository participants. You will have a compilation of statements. In this case, you will have a functionality called the consolidated account statement, which you can use to view the statement in your Demat account across the different depository participants.
To check your shares in a Demat account, follow the following steps:
- Go to the official CDSL website.
- Log in with your appropriate credential.
- You will then have to enter your PAN number.
- Next, you will have to enter your Demat account number.
- In the next step, you will have to provide your DOB.
- Complete the captcha entries
- Generate an OTP code, and it will be sent to your mobile number.
- Upon verifying the OTP code, you will be able to log into the application; here, you will access the Demat holding status and reports. If you need to download the statement, you will have to select the date range and then download the statement.
Frequently asked questions
What it is required to check your shares?
To check your shares in a Demat account, you need to have your PAN number, Demat account Number, and Date of birth.
What information to look for while checking my shares?
The statements that you need to check while viewing your share accounts include:
- Personal information
- Folio number
- Mutual fund details
- Dividends payout
- Net assets value
- Transaction summary.
Is it important to check shared statements regularly?
It is very important to check your shares in your Demat account regularly to be sure that the broker you are working with then transfers the shares you purchased to your account and what the payout is. Though the shares, once you purchase them, are automatically sent to your account, this is not obvious.
Checking your Demat account is one good habit you must have as an investor. Though with the Demat account, most things are accomplished automatically, system failure can lead to an uncompleted transaction.
To be safe, having a free Demat account online with other depository participants is good since your shares will be safer since they are not in one Demat account. Even if there is a problem with one account, you can continue to use the other account. As you have seen above, if you want to access your share statement, you can follow the procedure and see the reports.