Ready to take the next step?

Frequently Asked Questions

Are joint holders of accounts allowed to nominate?

TNomination for joint holders is permitted, however in the event of death of any of the holders the shares will be transmitted to the surviving holder's name. In the case of death of all holders the securities will be transmitted to the nominee account.

Was this information helpful to you? Yes No

Can I open more than one account?

There is no restriction on the number of accounts you can open.

Was this information helpful to you? Yes No

Can I add or delete names of account-holders (second or third account-holder) after opening the account?

No. Names of the account-holders for a depository account cannot be changed. If you want to change name or add / delete an account-holder, you need to open a new account in the desired holding pattern (names) and transfer the securities to the newly opened account. The old account may subsequently be closed.

Was this information helpful to you? Yes No

What is the procedure for transmission in case of Joint Accounts?

On submission of Transmission form and a notorised copy of death certificate of the deceased joint holder(s) in the event of death of the joint holder(s), the securities will be transmitted to the surviving holders account.

However for transmission of securities, the account of the surviving holder(s) must be in the same sequence in which the names appear in the joint account to be closed.

Was this information helpful to you? Yes No

Can a minor be a nominee?

Yes, a minor can be a nominee. In such a case, the guardian will sign on behalf of the nominee and in addition to the name and photograph of the nominee, the name, address and the photograph of the guardian must be submitted to the DP.

Was this information helpful to you? Yes No

Related Products