If you have applied for a Demat account, you may be wondering how to find out your application status. The good news is that there are several ways to check your status. You can also access your holding statement and view the current status of your account. You can find the status of your application through the website or app of the DP. To view your holding statement, click on the CAS link. It will give you a summary of your Demat holdings across different DPS.
The first step in applying for a Demat account is to choose a brokerage firm. Find a company that is affiliated to NSDL or CDSL. You will be required to quote your depository institution’s name when you’re in certain places. IIFL is one of the few brokerage houses affiliated to both NSDL and CDSL. This way, you can get the status of your application quickly and easily.
If you’re an avid investor, you’ll want to diversify your investment portfolio to ensure maximum returns. There are numerous depository participants that offer a wide range of services and products to suit your investment appetite. However, it is rare for one to shut down unexpectedly. You can choose a Demat account with several DPs and compare their rates and services to find the best deal. It’s also possible to find out if your application has been approved or declined.