Yes, a minor can be added as a nominee at Jainam. The minor has to appoint a guardian to represent him/her and must provide the guardian's details, such as name, address, mobile number, and PAN or Aadhar. This ensures that the minor's interests are protected.
To know more, see Jainam's nomination form and to see sample filled form (pdf) |
RELATED FACTS:
- Non-Individual accounts such as HUF, Partnership firm, LLPs, and Corporate account cannot have a nominee.
- If the nominee is a minor, mention the guardian details and provide ID proof of the guardian. The account holder himself cannot be added as the guardian of the nominee.
- The nominee would apply to the trading and demat account, including mutual fund investments.
- Dormant account holders must reactivate the account to add a nominee.
- Charitable trusts cannot be added as a nominee.
- Joint account holders and NRIs can only add a nominee(s) offline. A nominee can be added online only if the mobile number is linked to the Aadhaar and a nominee was not added earlier. NRIs can add nominee(s) offline, as long as their Aadhaar is linked to their active mobile number.
- It will take 7 working days to complete the nomination process at Jainam, and you can select a maximum of 3 nominees.
- The names of the nominees must exactly match the names on their documents to simplify the process of making claims in difficult situations. Photograph of the nominee is not required.
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