How can I add a new nominee to my 5Paisa account?
To add a new nominee to your 5paisa demat account is easy. You can either do it through the mobile app or the web platform.
Mobile App:
· Log in to the 5paisa mobile app.
· Tap the "User" icon at the bottom.
· Select "My Profile."
· In the top right corner, tap "Manage."
· Choose "Nominee Details."
· Select "Add/Update Nominee" or "Opt-Out" (if applicable).
· Complete the e-sign process.
Web:
· Log in to https://login.5paisa.com/.
· Click on the profile icon in the top right corner.
· Select "Profile" from the menu.
· Click on "My Profile."
· Choose "Nominee Details."
· Select "Add/Update Nominee" or "Opt-Out" (if applicable).
· Complete the e-sign process.
Some key pointers to consider while adding a nominee to your Demat account:
· Only individual account holders (beneficiary accounts) can designate a nominee. Non-individuals like societies, corporations, partnerships, Karta of HUF, or power of attorney holders cannot add a nominee.
· All the account holders must sign the nomination form for the jointly held accounts.
· A minor cannot be the one assigning a nominee. However, an adult can designate a minor as a nominee.
· They must also provide the guardian’s name and address.
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