Can You Change or Cancel a Nominee in a Demat Account? Process, Forms and Key Rules

You can change nominee in demat account through your DP’s online portal or by submitting an offline form. For joint accounts, all holders must consent. Last checked: August 2026.

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When Can You Change Nominee in a Demat Account?

You can change nominee in demat account at any time. Unlike other account modifications that may have restrictions, there is no minimum holding period or waiting time before you can update the nominee. If your nominee’s personal details have changed (for example, name after marriage, address, or contact information), you should also update the nominee to reflect current information.

Common reasons to change nominee in demat account include the nominee’s death, a change in relationship or family circumstances, the nominee becoming a minor (requiring a guardian to be added), or a deliberate revision of the percentage allocation among multiple nominees. The updated demat account nomination rules 2026 (SEBI circular May 29, 2026) now allow up to three nominees, so you may update the nominee to add or remove nominees within this limit.

How to Change Nominee in Demat Account Online

To change nominee in demat account online, follow these steps.

1. Log in to your DP’s official online portal (for example, NSDL CAS for NSDL-linked accounts) using your credentials.
2. Navigate to the Nomination section in the account services or profile area.
3. Select ‘Change Nomination’ or ‘Update Nominee’ and enter the new nominee’s full details: name, date of birth, relationship, address and percentage allocation.
4. For multiple nominees, repeat for each. Ensure all percentages total 100%.
5. Authenticate the change nominee in demat account instruction using the OTP sent to your registered mobile number or using e-sign.
6. Submit. Your DP will process and confirm the change nominee in demat account update via email or SMS, usually within one to two business days.

How to update the nominee Offline

To change nominee in demat account offline, obtain the nomination form prescribed by your DP (often Form SH-13 or the DP’s specific nomination form). Fill in the details of the new nominee, sign the form and submit it along with self-attested identity proof to your DP’s nearest branch.

For a physical change nominee in demat account request, processing may take five to seven business days. After processing, your DP will confirm the nomination change. Retain the acknowledgement from the DP as proof of your update the nominee request, in case of any future succession queries.

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What Is the Difference Between Changing and Cancelling a Nominee in a Demat Account?

When you update the nominee, you replace an existing nominee with a new one or modify the percentage allocation. The account continues to have a valid nomination. When you cancel nomination (opt-out), you are removing all nominees and submitting a declaration confirming that no nomination is to be maintained.

Cancellation is not simply the removal of a name. Under the demat account nomination rules 2026, cancelling nomination requires a signed opt-out declaration. If you want to update the nominee from one person to another, you do not need to cancel first; submitting the new nomination automatically replaces the old one.

update the nominee for Joint Accounts

For joint demat accounts, any attempt to update the nominee requires the consent of all joint holders. The DP will ask all holders to authenticate the nomination change, either via OTP from each registered mobile number or through the offline form signed by all holders.

It is not possible for one joint holder to unilaterally update the nominee without the other holders’ consent. This joint-consent requirement protects all holders and ensures that the nomination change reflects a collective decision. Remember that for joint accounts, the nomination applies only after the last surviving joint holder dies.

Changing a Nominee at Univest

Univest is a SEBI-registered platform (SEBI RA Reg. No. INH000013776) linked to NSDL. To update the nominee held with Univest, access the NSDL CAS portal using your NSDL account credentials or contact Univest support at univest.in for the current process and any offline nomination form. The update the nominee process at Univest follows NSDL’s standard operational guidelines.

After you update the nominee at Univest, the updated nomination takes effect from the date it is processed by the DP. Keep a copy of the confirmation for your records.

Conclusion

You can update the nominee at any time, either online through your DP’s portal or offline via a nomination form. The new nomination replaces the old one immediately upon processing. If you are changing to multiple nominees under the updated demat account nomination rules 2026, ensure all percentages total 100% and each nominee’s details are accurate. For joint accounts, remember that you need all joint holders’ consent to update the nominee.

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Frequently Asked Questions

How do I change nominee in demat account?

Ans. On how to change nominee in demat account: To update the nominee, log in to your DP’s online portal, navigate to the nomination section and submit a new nomination instruction with the updated nominee details. Authenticate via OTP. For offline update the nominee, submit the nomination form at your DP’s branch. The new nomination replaces the old one from the date it is processed.

Can I change nominee in demat account without the old nominee’s consent?

Ans. On how to change nominee in demat account: Yes. You do not need the consent of the existing nominee to update the nominee. Nomination is a right of the account holder, not the nominee. Simply submit a fresh nomination instruction to your DP to update the nominee, and the old nomination is replaced automatically.

How long does it take to update the nominee?

Ans. Online update the nominee instructions are typically processed within one to two business days. Offline requests to update the nominee submitted at the DP branch may take five to seven business days. Your DP will confirm the update via email or SMS.

Can I update the nominee to add a second or third nominee?

Ans. Yes. Under the demat account nomination rules 2026, you can update the nominee to add up to three nominees. Provide each nominee’s details and assign a percentage allocation ensuring all percentages total 100%. You can update the nominee at any time to add or remove nominees within this limit.

What happens if I cancel rather than update the nominee?

Ans. Cancelling nomination (opt-out) means removing all nominees and submitting a signed declaration that you choose not to nominate anyone. It is different from a update the nominee request, which replaces one nominee with another. After cancellation, the legal heir route applies on death, which is more complex and time-consuming.

Do all joint holders need to consent to update the nominee?

Ans. Yes. For a joint demat account, all joint holders must consent to update the nominee. Each holder must authenticate the request via OTP or sign the physical form. One holder cannot unilaterally update the nominee without the others’ approval.