A dematerialised, or demat, account allows you to hold company shares and securities electronically. You can hold securities such as stocks, mutual funds, bonds or exchange-traded funds in a demat account.
People who have demat accounts should designate nominees. This ensures that in case of the account holder’s death the nominated person can smoothly access their assets without legal complications or delay. At most three nominees can be added for one demat account.
Who is a Nominee?: A nominee is an individual who receives securities held in the case of the account holder’s death.
How to add nominee to demat account online
- Visit the NSDL website and subscribe for the nominee facility.
- Authenticate using depository participant ID (DP ID), Client ID, PAN, and OTP.
- Choose to nominate or opt-out of nomination.
- If opting for nomination, enter nominee details and save.
- Verify the nomination details using OTP authentication.
- Complete Aadhaar e-Sign process.
- Submit final OTP for confirmation.
It’s essential to follow each step carefully to ensure the nomination process is successful.
How to add nominee to demat account offline
- Contact your DP to request a nomination form.
- Fill out the nomination form accurately, providing all necessary details about the nominee.
- Sign the form as per the signature recorded with your DP.
- Include supporting documents such as proof of identity and address for both yourself and the nominee.
- Submit the completed form and supporting documents to your DP, following their submission guidelines.
- Receive an acknowledgment receipt from your DP upon submission.
- Your DP will process the nomination request and update the details in your demat account accordingly.
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