There’s a reason our app is named Dhan - it is synonymous with wealth.
We believe investments in equity / stock markets for the long term is the one of the best and most legit ways to create wealth for any individual in India. Dhan, on your behalf, not only provides a great investment platform for executing your trades (all at lightning fast ) but also a very reliable and seamless experience.
More than that, Dhan acts a secure vault for all your holdings (held in your demat account) and information about your trades and portfolio available on the app & web. So it only makes sense that investors in stock markets are able to pass on this wealth to the person of their choice, in the event of their unfortunate demise. Or rather, always have a nominee linked to their investment and trading account on Dhan or even with any other broker.
Market regulations have changed to make investments simpler, seamless and digital. While SEBI had introduced online KYC a few years ago, it was only as recently as last year that an online nomination facility was facilitated and now we are excited to bring this to Dhan.
Starting today, you will now be able to add up to 3 nominations to your Dhan account account. Continuing with our philosophy to provide all features in a digital and completely paperless manner, we are now live with the facility for Dhan users to add their nomination directly on the Dhan app.
You can access this option on the Dhan mobile app through the following on-screen steps:
Go to Home > Tap on Hello > Tap on your name > Click on “Profile & Account Details” > Scroll down to the bottom > Tap on “Add Nominations”
We strongly encourage you to use this. Make sure you fill all the details correctly, including the email address and phone number of the nominee. We also urge you to inform your nominees so that they are apprised of your wealth at all times.
We feel this is the first step of a major account management which we’ve enabled in a paperless format and soon, we will introduce more of them.
Frequently Asked Questions:
Q1: Is this feature live for all platforms?
A1: As of now, this is live on all our mobile platforms (Dhan and Options Trader). We will soon make it live for Dhan Web as well.
Q2: How can I modify nomination on my account?
A2: Currently, nominee modification is not allowed online due to restrictions on CDSL (depository). However, you can request for modification by getting in touch with us at email@example.com. We will share a account modification form, which you have to print, fill up, sign and courier it back to us at our headquarters in Mumbai.
Q3: Is this nomination for stocks and mutual fund both?
A3: No. This nomination process is only for stocks. Once we are live with mutual funds on our platform, we will notify you about a separate nomination process.
Q4: I have received an email from exchange stating that my demat and trading account will be frozen if I don’t update my nomination to my broker (Dhan). Is this true?
A4: The regulation mandates that you need to provide your CHOICE of nomination. There are two choices - either you can opt out, or opt in. During onboarding, you have decided to opt out of nomination on Dhan - so we have already communicated the same to all exchanges and depository. Thus, your account will NOT be frozen or disabled post the deadline. Whenever you wish to add nominees, you can follow the steps highlighted above and we will communicate that to all intermediaries immediately.
We keep listening to your feedback and suggestions, it helps us improve the Dhan experience for you. Keep sharing more with us at firstname.lastname@example.org.
Product @ Dhan