Introduction
A nominee is a person who will inherit your securities and trading account in the event of your death. It is important to add a nominee to your Zerodha account to ensure that your assets are transferred to the right person.
How to add a nominee
To add a nominee to your Zerodha account, you can follow these steps:
1. Log in to your Zerodha account.
2. Click on the “Profile” tab.
3. Click on the “Nominee” tab.
4. Enter the details of your nominee, such as their name, relationship with you, and ID proof.
5. Upload a scanned copy of your nominee’s ID proof.
6. Click on the “Submit” button.
Documents required
The following documents are required to add a nominee to your Zerodha account:
* Proof of identity of the nominee: This could be a copy of the nominee’s Aadhaar card, PAN card, or passport.
* Proof of address of the nominee: This could be a copy of the nominee’s electricity bill, water bill, or rent agreement.
Is it mandatory to add a nominee?
It is not mandatory to add a nominee to your Zerodha account. However, it is highly recommended to do so. If you do not add a nominee and you die, your assets will be transferred to your legal heirs according to the laws of succession. This process can be time-consuming and expensive.
Conclusion
Adding a nominee to your Zerodha account is a simple process that can be done online. It is a good idea to add a nominee to your account to ensure that your assets are transferred to the right person in the event of your death.