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The last month of the year 2023 has started. This month is very important from the point of view of many financial matters. You have to complete many important tasks before 31st December. If you have a demat or mutual fund account then the deadline for filing nomination is 31st December 2023. If you have not updated the nominee yet, do it immediately. According to market regulator SEBI, if you do not do this then your account will be frozen. That means after this, you will not be able to do any kind of investment or transaction.

SEBI has extended the deadline for updating nominees for mutual fund and demat account holders to 31 December 2023, which was earlier 30 September 2023. Nomination has been made mandatory in mutual fund and demat accounts because if an account holder dies, then in such a situation the nominee can easily withdraw the amount deposited in the account by claiming it. In the absence of a nominee, all the legal heirs can claim the money and there are problems in claiming. Let us know its process.

Add nominee in mutual fund like this
1. For this, first of all go to https://nsdl.co.in/.
2. Now enter DP ID, Client ID and PAN number here.
3. After this select Nominate Online option.
4. After this a new page will open in front of you5. Enter DP ID, Client ID, PAN and OTP here.
6. Now 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, fill the details of your nominee on it.
8. Now click on the check box and go 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.

Add nominee in demat account like this
1. For this go to https://eseservices.nsdl.com/instademat-kyc-nomination/#/login.
2. Login here with your registered mobile number.
3. You can also login through Aadhaar number.
4. Here you can update the nominee by going to Change or Update Nominee.
5. For this you will have to fill your nominee’s name, date of birth, relationship with your nominee, nominee’s address, percentage to be given to the nominee.
6. Maximum three nominees can be added in one account.