Mutual Fund and Demat Account Nomination: The date of 31st December is very important in terms of financial matters. If you have a demat or mutual fund account then the deadline for nomination is ending on 31st December. In such a situation, update the nominee in both the accounts today itself. If you do not do this, your account will be frozen and you will not be able to make any kind of investment or transaction.
SEBI fixed the deadline till 31st December
The Securities and Exchange Board of India (SEBI) has extended the deadline for mutual fund and demat account holders to file nomination till December 31, 2023. Earlier the deadline for this was fixed till 30 September 2023, but later it was extended to 31 December. If you have also not added the nominee in your mutual fund and demat account, then complete this work as soon as possible. We are telling you about the easy process of adding nominee in both the accounts.
Why is nomination important?
It is important to make nomination in mutual fund and demat account because if any account holder dies then in such a situation the nominee can easily withdraw the amount deposited in the account by claiming it. In case there is no nominee, all the legal heirs can claim the money. This makes the process of withdrawing money very long and complicated. In such a situation, SEBI encourages all demat and mutual fund account holders to add nominee.
How to add nominee in mutual fund?
1. NSDL provides the facility to add nominee in the demat account.
2. For this you click on https://nsdl.co.in/ .
3. After this DP ID, Client ID and PAN number will have to be entered.
4. After this select Nominate Online option.
5. After this a page will open in front of you on which you will have to enter DP ID, Client ID, PAN and OTP.
6. After filling all these details, select the option of I wish to Nominate or I don’t wish to Nominate.
7. After this, a page will open in front of you in which you can fill all the details of your nominee.
8. Next click on the check box and proceed to Proceed.
9. OTP will come on the registered mobile number, enter it here.
10. After this the nominee will be added to your mutual fund account.
Method of adding nominee in demat account-
1. For this, first of all click on https://eseservices.nsdl.com/instademat-kyc-nomination/#/login .
2. Login to your demat account here with your registered mobile number.
3. Apart from this, you can login through your Aadhar number and registered mobile number.
4. After this you can update the name of the nominee by going to Change or Update Nominee here.
5. The nominee updates you his name, date of birth, your relationship with the nominee, the nominee’s address, the percentage the nominee will get.
6. Keep in mind that the names of maximum three nominees can be added to one account.
