3 Ways To Check The Demat Account Balance
To invest in the stock market and keep your securities such as shares, bonds, and mutual funds, you need to open a Demat account. By storing your investments electronically, this virtual account eliminates the need for physical certificates.
Additionally, it offers enhanced security and convenient accessibility for account holders.
In order to open a Demat account, you must provide the required documents and complete some formalities. Once your account is set up, you can start transferring stocks and shares.
When opening a Demat account for the first time, checking the balance can seem challenging. However, no need to worry if you are facing this challenge. With the help of this article, you will be able to easily check Demat account balances without any hassle.
What is the demat account balance?
Your demat account balance shows how many shares and other securities you have in your account and their value. Moreover, your demat account balance changes as you buy and sell securities in the stock market.
In the stock market, a demat account is like a bank account. Keeping stocks and other securities in a demat account is just like keeping your money safe and secure in a bank.
In the same way, you check your bank account balance by checking your passbook or logging into your net banking account, you can check your demat account balance too.
How To Check Demat Account Balance?
You can generally check the balance of your Demat Account in three ways. Here’s how to check it:
Online DPa Portal
An investor typically opens a demat account via a depository participant’s (DP) digital platform. As with regular e-banking or mobile banking platforms, this digital platform will allow the viewing of the demat account balance. Using this portal, you can view not only the account statement but also the account status.
Furthermore, the DP’s portals provide you with insightful charts and graphs about their investments. Additionally, DPs send Demat account statements via email on a quarterly, half-yearly, or annual basis.
Online Stock Trading App
If you have a Demat account, you can easily check its balance using an online stock trading app. All you need to do is log in to your online stock trading app with your details. Once you’re in, you can navigate to the relevant section and find the real-time balance of your Demat account. Moreover, this user-friendly approach allows you to stay informed about your investments effortlessly.
Visit CSDL’s or NSDL’s website
Having multiple Demat accounts with several depository portals might require viewing the treasury of all similar accounts. In such cases, you can view a Consolidated Account Statement or CAS.
To view a CAS, follow these steps:
- Visit the NSDL or CDSL website
- You’ll need to enter your PAN number
- Enter your 16-digit Demat account number
- Enter your DOB
You’ll get an OTP in your mobile number once you finish these steps, allowing you to access the CAS statement, view it, and even download it.
Why should you check your Demat account balance?
It’s important to check your Demat account balance for a few reasons. Your Demat account balance changes every time you buy or sell securities. Tracking this balance is key to making sure your account is debited and credited correctly with each transaction. Also, you need to keep this in mind when buying shares because it takes around T+2 days to get credited to your Demat account.
Checking your Demat account balance periodically ensures you don’t have any mistakes, discrepancies, or unauthorized transfers. Moreover, you sign a Power of Attorney (POA) agreement when you open a trading and Demat account. That means you give your stockbroker permission to access your Demat account and make transfers on your behalf. Some brokers might abuse this authority by making unauthorized share transfers without your knowledge.
However, you don’t need to worry because SEBI closely monitors the industry. In general, your Demat account balance helps you spot discrepancies or unauthorized transfers quickly. Further, this allows you to report the issue to the appropriate authorities and get it fixed.
Conclusion
Having a Demat account is essential for securely holding your investments in the stock market. Checking your demat account balance is crucial for several reasons. It ensures that your account is debited and credited accurately with each transaction and helps you keep track of the value of your securities.
Moreover, by regularly monitoring your Demat account balance, you can identify any discrepancies, errors, or unauthorized transfers. Additionally, this will enable you to take prompt action. With blinkX, you can effortlessly log in to your account and navigate to the section displaying your real-time Demat account balance. By utilizing blinkX’s services, you can stay informed about your investments and ensure the security of your Demat account.
