Managing investments through a demat account has become extremely common in India. Whether you invest in stocks, mutual funds, or ETFs, your securities are stored digitally in your demat account. However, many investors overlook one important detail — the nominee registered in the account.

A nominee ensures that your investments are transferred smoothly to a trusted person if something happens to you. But life circumstances change. You may need to update or modify your nominee due to marriage, family changes, or financial planning decisions.

In this guide, we will explain how to change nominee in a demat account, the documents required, SEBI rules, and how long the process takes.

What Is a Nominee in a Demat Account?

A nominee is a person appointed by the account holder to receive the securities in the demat account in case of the account holder’s death.

The nominee acts as the authorized recipient of the shares and other securities. This helps ensure that the investments are transferred smoothly without lengthy legal procedures.

For example:

If an investor holds ₹10 lakh worth of stocks in a demat account and passes away, the nominee can claim the securities directly through the broker and depository system.

Without a nominee, the legal heirs may need to go through complicated legal documentation such as succession certificates.

Why You May Need to Change a Nominee

There are several reasons why investors may want to change nominee details in their demat account.

Common situations include:

Marriage or Divorce

Many investors initially add their parents as nominees but later change it to their spouse after marriage.

Change in Family Structure

Birth of children or other family changes may require updating nominee allocation.

Incorrect Nominee Information

Sometimes the nominee details may have incorrect spelling, wrong date of birth, or outdated contact details.

Financial Planning Changes

Investors may decide to allocate assets differently based on estate planning.

Updating nominee information ensures that your investments reach the correct person.

SEBI Rules for Demat Account Nomination

The Securities and Exchange Board of India (SEBI) has introduced several rules to simplify the nomination process.

Key guidelines include:

Investors must either add a nominee or opt out of nomination.
A demat account can have up to three nominees.
Investors can allocate different percentage shares to each nominee.
Nominee details can be updated anytime.

These rules ensure that investors’ assets are transferred smoothly in case of unforeseen circumstances.

Documents Required to Change Nominee in a Demat Account

The documents required are usually minimal.

Requirement	Details
Nominee Name	Full legal name
Date of Birth	Mandatory
Relationship	Optional but recommended
Address	Residential address
Identification	PAN or ID proof (if required)

If the nominee is a minor, guardian details must also be provided.

Most brokers now allow nominee updates digitally, so physical documents may not be required.

Step-by-Step Process to Change Nominee in a Demat Account

Changing nominee details in a demat account is usually a simple process. Most brokers provide both online and offline options.

Step 1: Log in to Your Broker Account

First, log in to your broker’s website or mobile app using your credentials.

Go to your profile settings or account details section.

Step 2: Open the Nominee Details Section

Locate the Nominee or Beneficiary section within your account profile.

Here you will see the existing nominee details.

Step 3: Select Change or Update Nominee

Click on the option to modify or change nominee information.

You will be able to:

edit nominee details
add additional nominees
remove existing nominees

Step 4: Enter New Nominee Details

Fill in the following information:

nominee name
date of birth
address
relationship with account holder
percentage share allocation (if multiple nominees)

Ensure that the details are accurate.

Step 5: Verify the Request

Most brokers require verification through:

OTP authentication
Aadhaar e-sign
digital signature

Once verification is completed, the request is submitted.

Step 6: Confirmation of Nominee Update

After submission, the broker processes the request.

Typically, the nominee change is updated within 2–5 working days.

You may receive confirmation through email or SMS.

Can You Add Multiple Nominees?

Yes.

SEBI allows investors to add up to three nominees in a demat account.

You can allocate percentage shares among them.

Example:

Nominee	Allocation
Spouse	50%
Child	30%
Parent	20%

If multiple nominees are added, the securities will be distributed according to the specified percentages.

What Happens If There Is No Nominee?

If no nominee is registered in the demat account, the transfer of securities becomes more complicated.

Legal heirs must submit documents such as:

death certificate
succession certificate
probate of will
legal heir declaration

This process may take several weeks or even months.

Therefore, adding and updating nominee details is highly recommended.

Can You Remove a Nominee Completely?

Yes.

Investors can remove a nominee and choose to opt out of nomination by submitting a declaration form.

However, experts strongly recommend maintaining at least one nominee to avoid complications in the future.

Important Tips When Updating Nominee Details

To avoid issues, investors should keep the following points in mind:

Review Nominee Details Regularly

Check nominee information periodically to ensure accuracy.

Inform the Nominee

Let the nominee know about the investment so they can claim the securities if needed.

Update After Major Life Events

Marriage, divorce, or inheritance changes should prompt a nominee review.

Keep Demat Records Updated

Ensure that personal details such as address and contact information are also updated.

Related Demat Account Guides

If you are new to investing, these guides can help you understand demat accounts better:

You can also use our Brokerage Calculator to estimate trading costs before investing.

Conclusion

Updating nominee details in a demat account is a simple yet important step in managing your investments. A nominee ensures that your securities are transferred smoothly to the intended person without complicated legal procedures.

Investors should review nominee information regularly and update it whenever life circumstances change. By keeping nominee details accurate and up to date, you can protect your investments and ensure financial security for your loved ones.

How to Change Nominee in a Demat Account (Step-by-Step Guide)