Demat Nominee: How to Add or Change a Nominee Online – Full Guide
Managing a Demat account has become more seamless than ever, especially when it comes to adding or updating a nominee. Earlier, this process required paperwork, physical signatures, and waiting days for approval. But now, stockbrokers and depositories have adopted a fully digital and paperless process, allowing investors to complete nomination requests in just a few minutes using a mobile app or the NSDL portal.
Whether you are setting a nominee for the first time or replacing an existing nominee, the process is simple, secure, and faster than before. Here is everything you should know—who can be nominated, how to update nomination, and why it is important.
What Is Demat Nomination and Why Is It Important?
A nominee is a person legally authorized to receive your securities—such as shares, bonds, and mutual fund units—in case of the account holder’s death. Nomination ensures smooth transfer of investments to the rightful person without legal troubles or long claim procedures.
Without a nominee, the family may face delays and complex verification processes, including succession certificates or legal heir confirmation. Therefore, every investor is strongly advised to assign a nominee to safeguard their financial assets.
Who Can Be a Nominee in a Demat Account?
Nomination is available only for individual Demat accounts, whether single or joint. A nominee must always be a natural person.
Eligible Nominees
Family members such as spouse, children, parents, or siblings
Any trusted individual who is not necessarily a family member
Not Allowed as Nominees
Companies or corporate bodies
Trusts or societies
Partnership firms
Hindu Undivided Family (HUF) entities
Investors can appoint up to three nominees, and must assign a percentage share to each nominee, ensuring that the total allocation equals 100%.
How to Add or Update a Nominee Using Your Broker’s App
Most leading brokers such as Zerodha, Groww, Angel One, Upstox, and others now provide an Aadhaar eSign–based online nomination facility.
Step-by-Step Process
Log in to your broker app or web platform
Go to Profile / Account Settings
Select Nomination / Add Nominee / Update Nominee
Fill in nominee details (name, relation, DOB, and share percentage)
Complete Aadhaar e-sign via OTP verification
Submit request
The request is normally processed within 1 to 3 working days, and approval status is shared through email or SMS.
How to Update a Nominee Through the NSDL Portal
If your Demat account is registered with NSDL, you can update nomination directly:
Steps to follow
Visit the official NSDL nomination update portal
Enter DP ID, Client ID, and PAN
Verify identity through OTP
Select “I wish to Nominate”
Add new details or modify the existing nominee
Complete Aadhaar eSign to send the request to your Depository Participant (DP)
You will receive an SMS notification once the DP approves or rejects the request.
Can a Nominee Be Changed Anytime?
Yes, the nominee can be:
Added for the first time
Removed, if no longer needed
Modified to change details or percentage allocation
The facility is available both online and offline.
Key Points to Remember About Demat Nomination
Nomination ensures smooth transfer of investments after death
Available only for individual Demat accounts
You can appoint up to three nominees
Percentage distribution is mandatory
Aadhaar eSign enables paperless completion in minutes
NSDL portal also offers direct nomination update options
Conclusion
If you have a Demat account, setting up a nominee is one of the most important steps to secure your financial legacy. With digitization, the process is no longer time-consuming or complicated. Whether through your broker’s app or via NSDL, you can complete the nomination or update request quickly and hassle-free. Doing so ensures peace of mind and prevents future difficulties for your family.
