How can I add a nominee?

1. You can add nominee details by using this link → (LINK)
2. After opening the above link, you will be redirected to the “Modification Portal”.
3. Now you have to enter “Client Code” and then click on “Generate OTP”.
4. After entering “OTP”, click on “Next”.
5. Now select “Add Nominee" and then continue.
6. Now it will ask one question. “Do you wish to add a nominee?” So, you have to say “yes”.
7. After that, add few more details like First Name, Last Name, PAN number, Aadhar Number, DOB, etc.
8. And then click on “SAVE”.
9. After that, your nominee details will be added in few minutes after verification.

Q. What if I don’t add a nominee?

While it is not mandatory, you are encouraged to update the nominee on all of your accounts, but in some case If you don't have a nominee, your family may have delays and legal processes to claim your investments after your passing, or maybe they'll turn out to be problematic and claim it after. It's definitely safer to have one to avoid any hassles.

Q. Can a nominee be a minor or only an adult?

It is possible for a nominee to be underage. However, in that scenario, you also need to include the information of a guardian who will oversee the account until the minor becomes eighteen.

Q. Can I change my nominee details?

Yes, you can modify or cancel an existing nominee in the MoneySukh app.

Q. Can an NRI be added as a nominee to a resident MoneySukh account?

As long as their address and mobile number are Indian, an NRI can be added as a nominee on a resident MoneySukh account (or any other Indian Demat account).

Q. Why did MoneySukh, or the exchange, ask to add a nominee?

MoneySukh, or the exchange, requires you to add a nominee, mainly because of SEBI's directives regulating investors to provide protection and to provide a smooth transfer of assets in the event of the account holder's death.

Q. Is the nomination facility free?

Yes, adding a nominee through the app or paper form is free of cost and does not incur fees from MoneySukh or depositories.

Q. How many nominees can I add?

With effect from March 1, 2025, you can now add up to ten nominees to your MoneySukh Demat account, in accordance with SEBI's updated regulations.

Q. Do I need any documents of the nominee?

1. There's no need to upload full documents for your nominee, only this information when adding a nominee in MoneySukh:
2. One identifier: PAN number, driving license, or last 4 digits of Aadhaar (you only need to provide the ID number, not the full document)
3. Contact details: Full address, email, and mobile phone number
4. Relationship to you and date of birth if the nominee is a minor
5. You don't need to upload copies of these documents when you nominate