Demat Account: How to add a nominee online and offline? Here's a step-by-step guide
Demat account holders are advised to add nominees to their demat accounts. This precautionary step ensures that in the event of the account holder's demise, the nominated individual can access the securities and assets held in the account without encountering any legal hassles or delays. Designating a nominee for your investments is crucial as it ensures a smooth transition of assets to your loved ones in the event of your absence.
Failure to nominate someone can lead to complex legal processes for your beneficiaries, delaying or complicating their access to the funds. In some unfortunate cases, the money may remain unclaimed indefinitely. Therefore, adding a nominee is a proactive step to safeguard your investments and provide financial security to your family in your absence.
Adding a nominee to your demat account is a straightforward process that can be completed online as well as offline. - Visit the official portal of NSDL (nsdl.co.in) or your brokerage account. - Click on the 'Nominate Online' option on the homepage or settings page in case of a brokerage account.
- Provide your DP ID, Client ID, and PAN on the new page. - Authenticate your identity through OTP. - If you wish to nominate, select 'I wish to Nominate'.
If not, select 'Opt out'. - Provide complete details of your nominee on the next page. - Verify/authenticate the nomination details through OTP.
- Complete the Aadhaar eSign on the Protean eGov page. - Submit the OTP received to finalise the process. Once completed, you will receive final confirmation on your computer screen.
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