Simplifying BondsIndia: Your Easy KYC Handbook

Introduction

When venturing into the world of investments, especially in bonds, understanding the steps of your KYC process is very important. But firstly, you need to understand the terms which are required to be filled in your KYC process. Let's delve deeper into what these terms mean.

DP ID

The DP ID, or Depository Participant Identification, serves as a unique code assigned to your broker. It distinguishes one broker from another, whether it's Zerodha, Angel Broking, Groww, or any other entity facilitating your investment journey. This code is integral to your demat account, serving as a bridge between you and your broker within the depository system. The first 8 digits of your Demat account number is your DP ID.

Client ID

Client ID is your personal identification with the broker. Each client registered with a broker is assigned a distinct Client ID, ensuring precision and security in transactions. When combined with the DP ID, the Client ID forms the backbone of your demat account, comprising the 16-digit demat account number essential for all investment activities. The last 8 digits of your Demat account number is your Client ID.

Where can I find my DP id and Client ID?

Your Demat account number is a 16-digit number made up of your DP ID and Client ID. The first 8 digits are your DP ID, and the next 8 are your Client ID. You can find these in your broker's app under "My Profile” section.  

Client Master List (CML) Copy

A "CML copy" is often a copy of a Contract Note, Margin Statement, and Ledger Statement issued by a broker to a client in India. It offers details about transactions executed, margin positions, and ledger balances.

Where can I find CML copy?

Your CML copy is normally available on your broker's online trading account interface. It could be labelled "Contract Note," "Margin Statement," or "Ledger Statement" on your account dashboard or statements area. If you can't find it, contact your broker's customer service for assistance in accessing your CML copy.

NSDL and CDSL

NSDL (National Security Depository Limited) and CDSL (Central Depository Services Limited) are depository organizations in India, facilitating the holding and transfer of securities in electronic form for investors and market participants. These depositories are regulated by SEBI.

How to check if your Demat Account’s depository is CDSL or NSDL?

You can check this from the Account details section of your profile in your broker’s application. Under the category “Depository”, CDSL or NSDL will be mentioned.

Significance of KYC Process

In today's digital age, Know Your Customer (KYC) procedures have become essential for financial transactions, ensuring the safety and security of both customers and institutions. BondsIndia, a leading platform for bond investments, prioritizes KYC compliance to facilitate smooth and secure transactions for its users. In this guide, we'll walk you through the step-by-step process of completing your KYC requirements on BondsIndia.

Complete Guide on KYC Process on BONDSINDIA

Step 1:

Register yourself on BondsIndia: Provide your details like full name, phone number, E-mail and set a password. Accept the term and conditions and register yourself on BondsIndia.

After providing all the details, click on ”Next” and verify your OTP to complete sign up.

Step 2:

Begin your KYC journey :  After Signing up, you will land on the portfolio page.

Click on the KYC Button highlighted in red color on the top-right section of your screen.  Now, you need to confirm your E-mail id with OTP verification before proceeding with the KYC Process.

Click on the KYC Button highlighted in red color on the top-right section of your screen.  Now, you need to confirm your E-mail id with OTP verification before proceeding with the KYC Process.

Step 3:

PAN Details: The first step towards completing your KYC on BondsIndia is providing your PAN (Permanent Account Number) details along with your date of birth. This information is crucial for identification purposes and ensures regulatory compliance.

Step 4:

Aadhaar Details: Next, you'll need to furnish your Aadhaar details, including your full name, address, and other necessary information. Aadhaar serves as a primary identity document in India and is used for authentication and verification purposes.

Step 5:

Demat Verification: In this step, first you need to check whether your account’s depository is CDSL or NSDL. You can check this from the profile settings of your demat account in your broker’s application.  If your account is opened with NSDL, BondsIndia will automatically fetch your demat details. In case of CDSL, you need to provide all the details manually.

To manually fill in the details, you will require the following: 

1. DP ID (Depository participant Identification)  

2. Client ID 

3. Client Master List (CML) copy

Definition of these terms and where you can find them are mentioned above.

Please not that we allow our users to add up to 5 Demat accounts held with any Depository Participant (DP). After providing the DEMAT details, verify the details or add another DEMAT account. Click on ” continue” to proceed further.

Step 6:

Bank Account Verification: To verify your bank account, you'll need to provide the IFSC code of your bank, select whether it's a Savings or Current account, and enter your account number. Double-check the account number for accuracy and click on "VERIFY AND SAVE" to proceed with the verification process.

Step 7:

Other Details: Complete any additional required details as prompted by BondsIndia and click on "CONTINUE" to proceed further.

Step 8:

E-sign Process: For the final step, you'll need to undergo the E-sign process using your Aadhaar card number. Click on "CONTINUE TO E-SIGN" and enter your Aadhaar number to get the OTP (One-Time Password) on your registered mobile number.

Once verified, you'll receive a confirmation message stating, "CONGRATULATIONS! YOUR KYC E-SIGNING IS COMPLETED"

Conclusion

Completing the KYC process on BondsIndia is crucial for gaining access to a range of bond investment opportunities. By following the step-by-step guide outlined above, you can ensure seamless and hassle-free KYC compliance within 7-10 minutes, enabling you to make secure transactions and investments on the platform. Stay informed, stay compliant, and embark on your journey towards building a robust investment portfolio with BondsIndia.