Demat Nomination: Who Qualifies and What You Get
Learn how to nominate heirs for your demat account to ensure your assets are transferred smoothly without your account being frozen.
Demat Nomination is a facility that allows you to designate specific people to receive your securities in the event of your death.
Who it's for
This is for all individuals who hold a demat account.
What you get
By setting up a nomination, you ensure that your financial assets are transferred smoothly to your chosen heirs. This process helps prevent legal complications and delays for your loved ones when accessing your holdings.
What it costs you
There is no cost to use this service. You can complete the process online through your broker's platform.
The catch to know
Registering a nominee is mandatory for all accounts. If you fail to nominate someone, your account may be frozen, preventing any activity or transfers.
How to apply
- Log in to your brokerage or depository participant platform.
- Navigate to the account settings or profile section.
- Select the option to add or update nomination details.
- Enter the required information for your chosen nominees.
- Submit the request using your digital authorization method.