Zerodha is an Indian financial services firm that provides brokerage-free stock investing. It is one of the largest stock-broking apps. It is used for trading in currencies and commodities, as well as retail and institutional broking.
BO ID is the Beneficiary owner Identification number. This number has 8 digits. It is used for the identification of an individual Demat account. It is different for every user. It is held by the CDSL depository via your Depository participant.
How to check BO ID (Beneficiary owner Identification number) in Zerodha?
- First, the user needs to login to the Zerodha Console.
- You can use the link given below to log in
- Click on the option “LOGIN WITH KITE”
- Enter the respective details.
- Press “LOGIN”
- Once you are logged in, locate the option “ACCOUNT”
- Then go to option “DEMAT”
- Then on the screen below 16 digits Demat ID two IDs are given
- One is DP ID and the other is B IOD
- 8-digit number under the head BO ID is used for the purpose of CDSL registration
- DP ID + BO ID is the 16-digit number listed under the Demat ID heading. Applications for IPOs and CDSL TPIN authorization use the Demat ID.
What is a depository participant?
Depository Participants are another name for the Depository’s agents. Banks, brokerage houses, and other financial organizations are some of the Depository Participants. They act as a bridge between stock exchanges and investors. Zerodha is a depository participant.
What is the difference between DP ID and BO ID?
The beneficiary Owner ID and the DP ID (Depository Participant Identification) are not the same. Each Depository Participant, such as a brokerage firm, bank, or other financial institution, is provided a number by the CDSL and NSDL. CDSL has provided the DP ID to Zerodha.
A Demat account number is created by combining the DP ID with the client ID of the person holding the Demat account. Your DP ID is typically represented by the first eight digits of your Demat account number, while the account holder’s client ID is represented by the last eight digits.
Conclusion
The beneficiary owner ID is easy to identify. It is used for the identification of the individual user. Users or we can say investors can easily find their BO ID by a few simple steps given above.
Ruchi Arora is a writer at trickyfinance covering various topics related to finance and cryptocurrency. This includes the latest news, events, reviews and various other information. Besides writing, she has a huge interest in designing and sketching.
