Is it mandatory to have a nominee for my trading and demat account?

Choice of nomination has been made voluntary for trading accounts, however nominations are mandatory for demat accounts

If you do not wish to appoint a nominee, you can opt out of Nomination or will be required to submit a declaration stating the same at the time of account opening.

Please note that as per SEBI requirements it is mandatory to add a nominee in demat account, or opt out of a nomination by 31st December 2023. If you fail to do so, the respective account will be frozen and you will not be permitted to trade/transact. 

Learn how to add a nominee.

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