How to Add Nominee in Groww?

Investing in mutual funds and stocks can be a smart way to secure your financial future. But have you considered what happens to those investments in the unfortunate event of your passing? This is where nominating a beneficiary comes in. A nominee is someone you authorize to inherit your holdings, ensuring a smooth transition and avoiding complications for your loved ones.

Understanding Nominees on Groww

Groww allows you to designate a nominee for your investments. This can be a spouse, child, parent, or anyone close to you. By adding a nominee, you simplify the process for them to inherit your mutual funds or stocks upon your demise.

Adding a Nominee for Future Investments

The good news is that adding a nominee for future investments on Groww is a simple online process:

1. Log in to your Groww account.
2. Navigate to the “You” section and select “Account details“.
3. Click on “Declare Nominee” next to your current nominee details (if any).
4. Select “Add Nominee” and provide the nominee’s details, including name, relation to you, and date of birth.
5. Confirm the information and proceed with the e-sign process using your Aadhaar OTP.

Adding a Nominee for Past Investments

If you’ve already made investments and haven’t added a nominee, fret not! Groww offers options for this scenario as well. However, the process differs slightly depending on the type of investment:

Mutual Funds

• Contact Groww support by emailing support@groww.in.
• Request nomination forms for the specific Asset Management Companies (AMCs) you’ve invested in.
• The forms will be emailed to you. Fill them out with details like your name, folio number, nominee’s information, and allocation percentage.
• Affix your signature and the nominee’s signature (if they are an adult).
• Courier the completed forms along with self-attested copies of your PAN card and Aadhaar card to the address provided by Groww support.

Stocks

• Similar to mutual funds, email Groww support requesting a nomination form for your trading and Demat account.
• Fill out the form with the required information and sign it.
• Include self-attested copies of your PAN card and Aadhaar card.
• Courier the completed documents to the address provided by Groww support.

Important Considerations

• You can only add one nominee on the Groww platform.
• If you’ve already declared a nominee, you cannot modify the details online. Contact Groww support for any updates.
• The entire process for adding a nominee for past investments usually takes around 10 working days.

By taking these steps to add a nominee in Groww, you ensure peace of mind and a simplified process for your loved ones in the event of your passing. Remember, investing is about securing your future, and adding a nominee is a crucial step in ensuring a smooth transition for those who matter most.