One of the most common questions investors have is: “How do I know whether my Zerodha account belongs to CSDL or NSDL?” Well, that’s a bit easier to answer than you might think. To begin, Zerodha is a member of both CSDL and NSDL. It also has a depository participant, ICICI Securities.
ICICI Securities is the depository participant of both NSDL and CSDL
The depository service is an excellent way for you to keep track of all your investments. Through a demat account, you can hold all types of securities, including stocks, mutual funds, bonds, ETFs, non-convertible debt, equity, and IPOs. You can even store your money with other institutions. CSDL and NSDL both issue guidelines to help you set up and operate your account. ICICI Securities’ Demat account services also include the ability to manage all of your trades and investments. You can also open an account with a demat firm that offers three-in-one demat services, which link your trading account, bank account, and brokerage account into a single account.
When transferring your money from one brokerage firm to another, you need to have your account DP ID. This is an eight-digit number that each broker assigns to your account. The DP ID for your ICICI Direct demat account is 84720302 or 35203679. You can find your DP ID in the “My Account” section of your ICICI Direct account.
NSDL is a registered depository in India. It operates its DP activity through more than 1000 branches, including ICICI Securities, which is also a depository participant of both. The NSDL is also the depository participant of CSDL. The depository participants must comply with a number of rules to protect investors. NSDL uses encryption and high-end computer hardware and software to protect their investors.
ICICI Direct and Zerodha are both excellent choices for online trading. They offer integrations with several products, including Sensibull, a platform for options analysis, and SmallCase, a basket of ETFs and stocks. Zerodha has an optional product called TradingView. Unlike ICICI Direct, Zerodha’s pledging process is simple and free. It also doesn’t charge for exchange transaction charges or stamp duty.
NSDL and CDDL are both registered with SEBI. DPs are intermediaries between investors and depositories. These intermediaries are often brokerage firms, but some firms that are not NSDL or CDSL can use a DP they already have. For example, Zerodha used to use the services of IL&FS, which was registered with NSDL and CDSL.
NSDL charges a fee of Rs 30,000 for every five issues of unlisted securities. In the case of CSDL, the fee is adjusted from a one-time custody fee of Rs 30,000. ICICI Securities is the depository participant of both NSDL and CSDL. Further, fees are waived for the distribution of non-cash corporate benefits.
ICICI Securities is the depository participant of CDSL
ICICI Securities is a registered depository of investments, which means that it is a depository of financial assets. This enables customers to make their investments in securities that are subject to regulatory oversight. ICICI Securities offers demat accounts for its customers. Demat accounts are accounts that hold shares in electronic form. They can also hold other investments, such as bonds. ICICI offers three-in-one Demat accounts that are linked to both your trading and bank accounts.
The DP ID assigned to an ICICI Direct demat account is a unique 8-digit code. You should note that different depositories have different DP IDs. It is important to know the depository from which you are receiving your demat account. CDSL and NSDL both assign an DP ID to all depository participants in India. Similarly, a brokerage firm will assign an account number to every client.
ICICI Securities charges a low brokerage fee. Their DP charges are usually less than 0.04 per cent of the value of your securities, which makes them an attractive option for investors on a budget. Investing in ICICI shares through ICICIDirect is a great way to save money on brokerage fees. And, since you don’t carry cash, online trading is a convenient option.
ICICI Securities is a depository participant of CDSL and NSDL. Both are central securities depositories approved by the Government of India. ICICI Securities has tie-ups with both CDSL and NSDL, which is why their customers can use both depositories for their demat accounts. This way, they can invest with confidence in their investments. You can apply for IPOs using your Demat ID and have an account that meets your investment requirements.
ICICI Demat accounts can be opened physically or online. ICICI’s online portal makes it easy for investors to monitor their investments in a safe manner. Through its secure online mode, users can keep track of their investments with just a few clicks. By registering your mobile phone, you can also opt for instant alerts on your account. The account can be frozen at any time, which means that no debits will be made during the frozen period.
The CDSL infrastructure system is robust and secure, with multiple back-up levels and world-class information security practices. It provides a seamless and secure way to transfer securities held electronically in demat accounts. ICICI Securities has an effective depository system and an affordable pricing structure. The depository services offered by ICICI Securities are geared towards the investor’s needs and will make the entire investment process easy.
CDSL is affiliated with ICICI Securities
Central Depository Services Limited (CDSL) is a subsidiary of the BSE. It functions as a securities depository in India and offers various services including crediting securities to demat accounts and KYC (know your customer) services to capital market intermediaries. It also offers facilities to hold insurance policies in electronic form. Its core business involves the transaction of shares, mutual funds, and insurance policies. It also offers various depository services at affordable prices.
Both NSDL and CDSL are registered DPs that operate in the Indian market. These depository participants are similar to banks and offer investing and trading services. The only difference between NSDL and CDSL is the primary operating market in which they operate. While CDSL is affiliated with ICICI Securities, NSDL is not. For investors, NSDL and CDSL are like one and the same.
If you are a minor and would like to open an account with ICICI Securities, it is possible to do so with your parents or guardians. However, you need to ensure that you have the necessary documents. ICICI’s call center is open from 8:30 am to 6 pm Monday through Friday. For your convenience, ICICI provides an annual demat account statement and a monthly statement. These can assist with income tax returns, too.
CDSL and NSDL are the two largest depository services in India. They both facilitate trading transactions and provide information to listed companies. NSDL is the oldest of these institutions, having begun operations in Mumbai in 1996. It was the first to offer shareholder information in electronic form. NSDL has 36,123 depository participant service centers across 2000 cities. CDSL, meanwhile, began operating in 1999 and has since become the second largest depository in India.
NSDL and CDSL are depositary services that provide online trading. Customers can use these services to reduce brokerage costs by using the ICICI Prime Plan. This plan allows users to trade stocks via BSE and get their money instantly in their bank account. The prime plan also offers exclusive research and allows them to earn 3.5% interest on their holding money. Through the Prime Plan, users can manage multiple accounts at one time through an online platform.