What is BO ID in Zerodha?
If you are new to the stock market and just started with Zerodha for investing and trading then you have seen the term BO ID. As a BO ID stands for Beneficiary Owner Identification Number. It is a 16-digit special number that is given to every Demat account holder. Here we will learn about What is BO ID in Zerodha.
How to Find Your BO ID in Zerodha?
Here are the given step-by-step guidelines that how to find your BO ID in Zerodha:
1. Open the Zerodha Application.
2. Then, tap on the profile icon.
3. Click on the profile option.
4. Now you can see your BO ID here on your device screen.
Why is the BO ID Important?
There are many reasons why the BO ID is important for an investor or trader:
- With the help of BO ID, you can track all the security that you hold in your Zerodha account, and ensure that you have easy access to your holding.
- Here some financial services or the stock analysis platform may ask for the BO ID to link with the Zerodha account.
- BO ID acts as a unique identifier because every trade you make in the stock market, whether you are buying or selling, gets settled through your demat account.
- Here when the company announces a dividend, corporation action, or bonus. The benefits are credited to the demat account linked to your BO ID.
Conclusion
In conclusion, the BO ID is important for managing the investment and the securities in your demat account. As it can help you to trade more easily. Whether you are buying or selling the stock, receiving dividends, or checking your investments, this is to make sure that your all transactions are connected to your demat account. But for this, you have to create an account on Zerodha and go with KYC to avail of the services.
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