Friends, if you trade in the stock market and have your own Demat account, you should be aware that adding a nominee to your Demat account is essential.
The main reason for adding a nominee to your Demat account is that if something happens to you and you die then the money or shares in your Demat account can be transferred to your nominee after your death.
In today’s time if you have noticed then you are well of the fact that all the banks have made it mandatory to add nominees in the bank accounts for their customers, and if they do not do so, then banks may close the account of that particular customer or else it has authority to terminate that account.
Adding Nominee is very essential
SEBI also seems to have picked this idea from the banks.
If you do not know then we would like to tell you that SEBI is the name of the body that regulates the stock market, and this body works to ensure that the stock market remains legal and that’s why it made various rules and regulations to govern the share market.
SEBI has also now made this rule that it is necessary to have at least one nominee in every Demat account and if any customer does not add the nominee in his/her Demat account, then SEBI also has the authority to terminate that Demat account.
In such a situation, if you want to keep away your Demat Account from the eyes of SEBI then you should definitely add a nominee to your Demat account.
People also read How to Add Nominee in Upstox Online?
Add Nominee in Zerodha Online
By the way, till the time, If you’ve ever had to add a nominee to a Zerodha Demat account then you’ll need to download a physical form from Zerodha’s website then have to fill it out correctly and send it to Zerodha’s head office via courier.
In almost all companies, you still have to follow the same process.
However, taking inspiration from Upstox, Zerodha has also made the process of nominating the nominee completely online and now you can sit at home and can easily add Nominee to Zerodha’s Demat account through your mobile and personal computer.
Here is the actual procedure to add the nominee in the Zerodha’s Demat account online.
Step 1: Search in Google: Console. zerodha.com
Step 2: Log in to your Zerodha’s Demat Account using your login credentials.
Step 3: Go to My Accounts.
Step 4: Scroll down and find an option named Add Nominee
Step 5: Add Nominee Details such as first name, last name, PAN card number, Aadhar card number, E-mail id, mobile number, Address.
Step 6: Define your relationship with the nominee
Step 7: Define how much percentage of your money you would like to share with the same nominee.
Step 7: Upload identification proof’s image of your nominee
Step 8: Submit all details.
After submitting all the details you will be redirected to a new webpage, where you have to actually verify and send an E-signature to Zerodha’s team and have to complete this you just have to follow this simple procedure.
Step 9: Enter Nominee’s Aadhar Number and submit it
Step 10: Enter OTP Received on mobile number.
Step 11: Click on Submit E-sign option and submit your application.
After submitting the form for nomination, you have to wait for at least 2-3 days. In this time duration Zerodha’s team will add your nominee in your Demat account.
Final Conclusion on Add Nominee in Zerodha Online
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