How Do I Add a Nominee To My Demat Account

Investors have the choice of adding a Demat account nominee or opting out of the nomination. If you want to opt for a nomination, submit the nomination form to your broker. Failing this, your Demat account will be frozen for debits from March 31, 2023.

What is a Demat account?

Stock investing requires you to open a Demat Account with a stock broker registered with the Securities Exchange Board of India (SEBI).

A Demat account is a mandatory account to hold financial assets in the online trading system where stock exchanges operate online and deal with digital financial securities only. A single Demat account can hold different assets, including equities, mutual funds, bonds, IPO issues , derivatives, etc. It is a safe storage for your assets as each debit or credit entry in your Demat account is completed following a secured process defined by the SEBI.

Adding Nominees to Demat Account

Among various Demat facilities, one is nomination in demat account. A nomination facility helps easy transfer of securities in the event of the demise of the Demat account holder.

How to add nominee in Demat account:

If you are wondering about how to add nominee in demat account, this blog got you covered. If your Aadhaar number is linked to your mobile number, you can add a Demat account nominee online at the official website of your stockbroker or central depositories NSDL/CDSL. Or you can visit your brokerage firm’s office for offline processing. You will need to submit the filled-in Annexure A - nomination form as per the SEBI circular.

How to check nominee in Demat account:

You can log in to your Demat account to check if you have added a nominee while opening your Demat account.

How many nominees can be appointed?

Demat account holders are allowed to add up to three nominees. If you are nominating more than one person, you need to specify the share percentage of each nominee. If it is not mentioned, it will be assumed equal for all.

Benefits of appointing a nominee

If a Demat account holder does not designate a person as his/her nominee, the legal heir of the account holder has to request for transmission of the Demat securities in their name, in the event of the Demat account holder's death. It makes the process of receiving beneficiary ownership of Demat securities may be lengthy and hassled without nomination.

Key benefits of assigning a nominee, include:

  • Nomination ensures that an investor's Demat assets will be transferred smoothly after his/her demise.
  • It can help speed up the transmission process of asset transfer.
  • Investors can avoid potential disputes about ownership benefits among their heirs.

The account holder can complete the nomination process without the beneficiary's approval at any time.


Thus, adding a Demat account nominee gives an investor peace of mind knowing that their investments will be taken care of in the event of their unfortunate demise. In the presence of a nominee, the process of share transmission becomes a lot easier. The legal heir does not have to gather a NOC (No Objection Certificate) and required affidavits from the courts.

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Frequently Asked Questions (FAQs)

A Demat account is a repository to hold your financial securities digitally. It is an essential part of the online trading system, making the trading process faster. Without a Demat account, you cannot invest in the stock market.

A Demat account benefits include:

  • A Demat account facilitates low-cost investing with reduced transaction costs.
  • There is no risk of delayed deliveries or fake securities, thefts, or damage to physical security certificates, etc.
  • You can trade even one share, thus eliminating the odd-lot issue.
  • It allows you to hold all your investments in a single account.
  • There is a nomination facility for easy transmission of Demat securities

The main function of a Demat account is storing your financial assets electronically and safely. It makes opening a Demat account mandatory for stock market investing. Other functions include the automatic receiving of corporate benefits, like dividends, rights, splits, etc., or refunds.

If you approach a discount broker, you can open a free Demat account with their affordable subscription-based brokerage plans. You can download Bajaj Securities to open your free demat and trading account.

Yes, you can add a nominee in your demat account online. The process varies from one depository participant (DP) to another, but here are the general steps involved:

  1. Login to your DP's online portal.
  2. Go to the "Profile" or "Settings" section.
  3. Find the option to add a nominee.
  4. Enter the nominee's details, such as name, relationship, and date of birth.
  5. You may also need to specify the percentage of shares that you want to allocate to the nominee.
  6. Click on "Submit".

Here are the steps on how to declare a nominee for your demat account:

  • Download the nomination form from your DP's website.
  • Fill in the form and attach a copy of the nominee's ID proof.
  • Sign the form in front of a witness.
  • Submit the form to your DP's office.

If a demat account holder dies without a nomination, the shares in the account will be frozen. The legal heirs of the deceased account holder will have to go through a legal process to claim the shares.

Yes, you can change the nomination in your demat account at any time. The process is the same as adding a nominee.

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