A Demat account is essential for anyone looking to invest or trade. It provides a variety of facilities, including the ability to invest in shares and mutual funds, trade derivatives, currencies, commodities, and more.
You might wonder what BO ID is in a Demat account. A BO ID is a unique code that links your Demat account to a digital trading account. This makes it easy to trade on exchanges like NSE, BSE, and MCX.
There are many benefits to having a Demat account, but in this article, I will focus on the what is BO ID (BO ID Means).
What is BO ID in Stock Market? (BO ID Means)
BO ID means Beneficial Owner Identification Number. It is a unique identification number that is assigned to an individual or organization when they open a Demat account.
It is a 16-digit unique account number assigned to the Demat account holder by the broker or Depository Participant when they open a Demat account with CDSL.
As you can see above, when we start a Demat account online, the Broker & CDSL sends us a welcome letter. The welcome letter from the Broker & CDSL will include your account details, including your BO ID. BO ID is your Demat account number if you’re using NSDL.
Example of BO ID
The Beneficiary Owner ID changes depending on whether the NSDL or the CDSL is used.
If you are looking for what is bo id in cdsl, The bo id or Beneficial Owner Identification Number for CDSL is 16 digits unique number for each account. For example, the CSDL Demat account may look like “1234567890123456”.
The bo id or Demat account number for NSDL is different than CDSL. It starts with “IN” and includes 14 unique numbers for each account. For example, the NSDL Demat account may look like “IN12345678901234”.
What is a DP (Depository Participant)?
Dp full form in the share market is a Depository Participant. A depository participant is an entity that holds securities electronically on behalf of the beneficial owner. The beneficial owner is the person who is entitled to the economic benefits of owning the securities, such as dividends or interest payments.
The depository participant is an intermediary between the beneficial owner and the Depository.
Who is a Depository Participant?
A Depository Participant (DP) is an agent of the NSDL/CDSL with whom an investor opens a Demat account. A Depository Participant could be a bank, a financial institution, a stockbroker, etc., appointed by NSDL/CDSL. They are like the link between an investor and the Depository.
The Depositary Act of 1996 is an Indian law that regulates the functions of depositaries in India and recognizes them as legal entities. The Act came into force on June 8, 1996.
Example Of Depository Participants
There are many depository participants in India. Some of them are banks, while others are non-banking financial companies. The list of depository participants in India is quite long. But a few which we all know are Zerodha, Upstox, Sharekhan, Groww, etc.
What is DP ID means? (Depository Participant ID)
The DP id is the Depository Participant Identification Number. Depositories assign this number to depository participants, such as banks and brokers. The customer ID is combined with the DP id to form the Demat account number.
What is the difference between A Depository ID and a Beneficiary Owner ID?
There is no relation between them. They are two entirely different things.
The NSDL/CDSL assigns Depository ID to the Depository Participants, which include financial institutions, brokerage companies, and banks.
The Demat account number is combined with the DP ID and client ID in NSDL/CDSL. The DP ID usually makes up the first eight digits of the account number, with the remaining eight being the client ID.
How To Identify BO ID?
If you’re unsure how to identify your BO ID or Beneficiary Owner ID, don’t worry—it’s easy to find out.
BO ID in CDSL is as follows:
As you can see in the image, The first 8 numbers are the depository participant ID (12345678), and the other 8 are the client ID (95658165).
BO ID in NSDL is as follows:
As you can see in the image, The first 8 numbers of the depository participant ID are “IN” and (IN345678), and the other 8 numbers are the client ID (95658165).
What is the Difference between NSDL and CDSL?
India has two main types of depositories: the National Securities Depository Limited (NSDL) and the Central Depository Services Limited (CDSL). Both depositories hold securities in an electronic, dematerialized form and offer similar services to investors. However, there are some vital differences between the two.
For instance, NSDL allows investors to hold securities in a single account, while CDSL allows for multiple accounts. NSDL also allows for the creation of nominee accounts, while CDSL does not.
|Full Form||National Securities Depository Limited||Central Depository Services (India) Limited|
|Promoters||IDBI, UTI, and, NSE||BOB, BOI, SBI, HDFC, and, BSE|
|Active Investors||2.4 crore||2 crore|
The data on the above chart is taken from official sites and may change after this article is published.
Where to find BO ID in some most popular stock brokers?
Bo ID in Zerodha:
Bo id means in Zerodha is a unique identifier that authorizes you to access your account and trade on the Zerodha platform.
How to get boid in Zerodha
To get your BO ID in Zerodha, follow these steps:
- Log in to your Zerodha account.
- Click on the Profile Section at the top of the page.
- Scroll down to the “BO ID” section on the following page.
- Your BO ID will be listed as DEMAT(BO).
What is bo id in upstox
Bo id Means in upstox:- BO ID is a unique code given to a broker by the exchanges on which they are registered. This code is used to identify the broker while placing orders.
How to find boid in upstox
To get your BO ID in Upstox, follow these steps:
- Log in to your Upstox account.
- Click on the “Profile” top of the page’s right side.
- Scroll down to the bottom of the profile page.
- You will find your Demat details there.
- Demat account numbers’ first eight numbers are DP ID, and the Last eight are BO ID or Client ID.
Bo ID Groww:
How to find boid in Groww
To get your BO ID in Groww, follow these steps:
- Log in to your Groww account.
- Click on the “Profile” top of the page’s right side.
- And in Basic Details, you will see your Demat account number.
In short, The beneficiary owner ID is the number assigned to an account holder in a Demat account. This number is used to identify the account holder and is required for all transactions.
Now that you understand everything about Beneficiary Owner ID, bo id means and how to get bo id, comment below if you still have any questions or concerns. I will answer your questions as soon as possible.
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FAQs Related to the Demat Accounts
What does a Demat account mean? (what Demat account meaning)
A dematerialization account, more commonly known as a Demat account, is used to keep securities in an electronic format instead of physical certificates.
What is a Demat account number?
A Demat account digit is a 16-digit number given by a broker to the investor at the time of the Demat account opening.
Demat account benefits
There are many benefits to having a Demat account, including holding and trading securities in an electronic format, eliminating paper certificates, and tracking the value of your securities portfolio. Demat accounts also offer greater flexibility when choosing a broker and the ability to hold multiple types of securities in a single account.
Are there charges for the Demat account?
Yes, Demat account maintenance charges are the annual fees to keep your account open. These charges are usually nominal and range from 300-800 rupees, depending on the Directory Participant and the value of transactions you make in a year.