Demat Account Nomination: Demat account works like a digital account in which investors keep their shares, bonds and securities. Like bank accounts, a nominee is also kept in this. Adding and updating nominee in demat account has now become easier than before.
Investors can complete this process digitally. Whether it is to make the first nominee or to make changes in the nominee. You can do this work in just a few minutes. Let us know about its process….
How to add nominee in brokers app
Most brokers provide the facility to add or change nominee online through the app Aadhaar eSign. Go to the customer app or their website and select the profile section. After this, go to account settings and select the nomination section.
After filling all the information related to the nominee, it will have to be verified with Aadhaar OTP. Usually, nominee change takes 2 to 3 days.
How to add nominee in NSDL portal
If your demat account is with NSDL, it is very easy to update the nominee here also. By visiting NSDL portal you can login OTP through your DP ID, Client ID and PAN. After login, select I wish to Nominate option and enter all the information related to the nominee.
Finally, as soon as you complete the Aadhaar eSign, your request goes to the DP. After this, you get information about acceptance or rejection through SMS.
Who can be the nominee?
Only a person can be made a nominee. No company, trust, society or partnership firm can become a nominee. Also, not more than 3 nominees can be included in the demat account and it is also necessary to decide the share of all of them.
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