How to Add Nominee in Zerodha?

A nominee in your Zerodha demat and trading account ensures a smooth transfer of your holdings to your designated beneficiary in case of your unfortunate demise. This article provides a detailed guide on adding a nominee to your Zerodha account, both online and offline.

Why Add a Nominee?

Adding a nominee simplifies the inheritance process for your investments. When a nominee is designated, they have the legal right to claim your holdings in the demat account, avoiding delays and complications for your loved ones. Additionally, SEBI regulations mandate nomination for all demat accounts. However, Zerodha accounts are already compliant as nominee details are collected during account opening.

Who Can Be a Nominee?

• Up to three nominees can be added to your Zerodha account.
• The nominee(s) can be anyone you trust, such as your spouse, children, parents, or close relatives.
• It’s crucial to ensure the nominee’s name precisely matches their official documents (proof of ID) to facilitate a smooth claim process.
• Minors can be nominees; however, a legal guardian (other than the account holder) must be appointed to manage the holdings on their behalf until they reach adulthood.

Steps to Add a Nominee Online

This is the faster and more convenient method.

1. Access your Zerodha account by logging in to console.zerodha.com.
2. Click on “Account” from the menu and then select “Nominees.”
3. Click the “Add Nominee” button.
4. Enter the nominee’s details accurately, including their full name, relationship to you, date of birth (DOB), address, email address, and mobile number.
5. If adding multiple nominees, specify the share percentage each nominee will inherit. Enter 100% if designating a single nominee.
6. Carefully review and accept the terms and conditions.
7. Click on “Proceed” to initiate the e-sign process.
8. Enter your Aadhaar number and click “Send OTP.” A one-time password (OTP) will be sent to your Aadhaar-linked mobile number. Enter the OTP and click “Verify OTP” to complete the e-sign process.
9. Once the OTP is verified, your nominee addition request will be submitted.

Steps to Add a Nominee Offline

If your mobile number is not linked to Aadhaar or you hold a joint account, you’ll need to follow the offline process.

1. Download Forms: Visit the Zerodha support website and download the Account Modification Form and Nominee Form (available in PDF format).
2. Fill and Sign Forms: Carefully fill out both forms, ensuring all details are accurate and complete. Sign the forms in the designated sections.
3. Nominee Proof of Identity: Attach a copy of the nominee’s ID proof (Aadhaar card, Voter ID, PAN card, etc.) with the forms.
4. Guardian Details (For Minor Nominee): If the nominee is a minor, provide the legal guardian’s details and a copy of their ID proof.
5. Submit the Forms: Courier the signed forms along with the required documents to the address mentioned by Zerodha on their website.

Processing Time and Important Notes

• Processing online nominee addition requests may take up to 5 working days.
• Non-individual accounts (like companies) and dormant accounts cannot add nominees online. However, they can utilize the offline process.
• NRIs (Non-Resident Indians) can add nominees online if their Aadhaar card is linked to their active mobile number.
• Charitable trusts cannot be designated as nominees.

By following these steps and considering the additional points, you can effortlessly add a nominee to your Zerodha account and ensure a smooth transfer of your assets in the event of an unforeseen circumstance. Remember to update your nominee details periodically to reflect any changes in your circumstances.