Have you not added a nominee to your demat account due to the fear of complications? Then do this now. Know that this method is easy. Your purpose will be successful within a few minutes.
A demat account works as a digital account, where investors keep their shares, bonds and securities. Just like a bank account, a nominee is nominated. Adding and updating a nominee in a demat account is now much easier than before.
Investors can complete this process digitally. Whether it is creating a nominee for the first time or changing it, you can do it in just a few minutes. Let’s know about the process.
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How to add a nominee in broker app
Most broker apps allow you to add or change a nominee online through Aadhaar e-sign. Customers can go to the app or their website and select the profile section. Then, go to account settings and select the nomination section. After entering all the nominee details, it needs to be verified using Aadhaar OTP. It usually takes 2 to 3 days to process the nominee change.
How to add a nominee on NSDL portal
If you have a demat account with NSDL, then updating your nominee is also very easy. You can log in to the NSDL portal using your DP ID, Client ID and PAN via OTP. After logging in, select the option “I wish to nominate” and enter the details of all the nominees. Finally, after completing the Aadhaar e-sign, your request will be sent to the DP. You will then receive an SMS regarding approval or rejection.
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Who can be nominated?
Only one person can be nominated. No company, trust, society or partnership firm can be nominated. Not more than three nominees can be added to a demat account and the shares of each nominee must be specified.
( Note: The information provided here is for informational purposes only. It is important to note that investing in the market is risky. As an investor, always consult an expert before investing money. Timesbull.com never advises anyone to invest money here. This share market related news is provided here for educational purposes only. We do not give calls or tips about any shares. )