How to Check How Many Demat Accounts You Have

With the rise of online trading platforms, many investors end up opening more than one Demat account, sometimes with different brokers or while exploring new services. Over time, it’s easy to lose track of them. Since every Demat account is linked to your Permanent Account Number (PAN), keeping tabs on how many accounts you hold helps you stay compliant and avoid unnecessary costs.

Why It’s Important to Check

Each Demat account linked to your PAN is registered in the central depositories’ records. If you’ve switched brokers or opened new accounts for convenience, some older ones may still be active. Dormant or duplicate accounts can attract annual maintenance charges and create confusion when tracking your investments. Checking your accounts ensures you have a clear view of your holdings and can close any you no longer need.

SEBI Rules on Multiple Demat Accounts

As per SEBI regulations, an investor can hold more than one Demat account under the same PAN. However, you cannot open multiple accounts with the same Depository Participant (DP) or broker. Each account must complete the Know Your Customer (KYC) process and meet SEBI’s compliance norms.

While there’s no restriction on the number of accounts, each one incurs annual maintenance charges (AMC) and requires regular monitoring. It’s good practice to maintain only as many accounts as you actively use.

Steps to Check How Many Accounts You Have

1. Visit the NSDL or CDSL Website

These are India’s two main depositories — National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).

2. Get Your Consolidated Account Statement (CAS)

➤ On the depository website, enter your PAN and date of birth, then verify using an OTP.
➤ The CAS will list all active Demat accounts linked to your PAN across both NSDL and CDSL.

3. Ask Your Broker

➤ If you’ve used multiple brokers, contact them to confirm if you have any open or inactive accounts.

4. Close Unused Accounts

➤ To avoid extra charges or confusion, consolidate or close accounts that you no longer use.

In Summary

It’s perfectly legal to have multiple Demat accounts, but keeping track of them is crucial. Reviewing your PAN-linked accounts through NSDL or CDSL ensures that your investments remain organised, cost-effective, and compliant with SEBI guidelines. Regular checks help you stay in control and make managing your portfolio easier.