Is it mandatory to have a nominee for my trading and demat account?
Choice of nomination has been made voluntary for trading accounts; however, nominations are mandatory for demat accounts. You can update 1 nominee in your trading account, and up to 10 nominees in your demat account OR you can opt -out of the Nomination
As per the recent guidelines issued by SEBI and Depositories, there have been important changes regarding the nomination process, effective from June 1st, 2025.
- Nomination or opt-out is mandatory for single-holding accounts and optional for joint holder accounts.
- Following details are mandatory: nominee name, address including pin code, DOB (in case of minor nominee), email address, mobile number, relationship, and nominee identification number.
- PAN / Driving license/ Aadhaar (last 4 digits) can be given as a nominee identification number. If the nominee is an NRI , the passport number can also be given as the nominee identification number.
- Client can choose whether the nominee's name or status should be displayed in the statement of holdings/statement of accounts.
Resident individuals and NRI single-holder accounts can add a nominee on MyGeojit. Other account types (joint accounts, etc.) will have to submit a physical Nomination Form at a branch. Click here for the revised nomination form. Non-individual accounts (HUFs, companies, trusts, etc.) cannot have nominees.
Quick Links : How can I add a nominee to my trading/demat account? How to Opt out of nomination ?
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