- The nominee needs to open a separate demat account in their name. After submitting the required documents, the shares are transferred from the deceased account holder's demat account to the nominee's account, closing the former and physically transferring the shares to the new account.
Related fact: - It will take 7 working days to complete the nominee process.
- You can select a maximum of 3 nominees.
- "The names of the nominees must exactly match the names on their documents to simplify the process of making claims in difficult situations."
- If the nominee is minor provide the guardian's details.
- The account holder cannot act as the nominee's guardian.
- For minor accounts, the guardian cannot be listed as the nominee.
- The nominee(s) can be added to the trading and demat account, as well as mutual fund investments made through Coin.
- Dormant account holders need to reactivate their accounts to add a nominee. - NRIs can add nominee(s) offline, as long as their Aadhaar is linked to their active mobile number.
- Charitable trusts cannot be added as a nominee.
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