Fill nominee in Demat Account online in a jiffy, follow this process
Registering nominees in the Demat Account has been made mandatory by SEBI. If you do not do this, your demat account will be frozen after December 31, 2023. A family member, friend, or any other person related to the Demat account holder can also be a nominee. You can also enter more than one nominee in your demat account.
Market regulator Securities and Exchange Board of India (SEBI) has made it mandatory to add nominees to all demat accounts by December 31, 2023. Its objective is that if the demat account holder dies, his nominees can easily get rights over his property.
All those demat account holders who have their own individual demat accounts are required to fill out the nomination. Joint demat account holders can also fill out the nomination. However, filling the nominee is not possible in non-individual accounts.
A family member, friend, or any other person related to the Demat account holder can also be a nominee. You can also make more than one nominee. For this, you will have to decide the ratio of assets in the demat account.
You can easily download the nomination form from your DP (Depository Participant) or from the online website. For this, any person will have to provide his demat account number and personal information. Also, the demat account holder will have to tell the name, relationship, date of birth address, etc. of the person whom he wants to make a nominee. At the same time, if there is more than one nominee, then their ratio in the property can also be decided.
You can easily fill out the nomination by visiting the depository's website. For this, you will have to fill in the required information in the form. After this, verification will have to be done through Aadhaar OTP. Then your nominee will be registered in the demat account.
