The process for claiming shares and funds from a deceased 5paisa account holder depends on whether a nominee was appointed by the deceased. 

Case 1: If a nominee was appointed by the account holder:

The nominee should submit the following documents to 5paisa:

·       A duly filled transmission form.

·       A copy of the deceased person’s death certificate attested by a Gazetted officer.

By submitting these two things, the share transmission process becomes simple.

Case 2: If a nominee was not appointed by the account holder:

The possibility of receiving shares or funds for the family members is subjective. One should consult with an attorney specialising in inheritance matters. They can help and assist you through the legal steps required to claim, which will involve the following:

·       Obtaining legal documentation (e.g. probate) to establish the legal heir.

·       Submitting necessary documents (like death certificate) to 5paisa.

 According to reports from the RBI, there have been several instances where banks have many unclaimed deposits across the country. Most of these accounts belong to those who either have yet to claim the money or the account holder died with no nomination details filled.

Note: It is advisable to contact 5paisa customer support for the most up-to-date information and specific requirements for claiming assets from a deceased account holder. Please consider including a nominee on your demat account to make it easier for your beneficiaries.