How to Add a Nominee to ICICI Direct Account?

As per regulatory guidelines on ‘Nomination for Eligible Trading and Demat Accounts,’ all holders of trading and demat accounts must update the nomination details. You cannot provide the nomination data or register your nominee’s details.

Steps to update nominee details in ICICI Direct

How do I add a nominee to ICICI Direct Account?

Online nomination process:

Holders of single accounts can change the nominee’s details.

Step 1: Go into your ICICI Direct account and log in.

Step 2: Click the ‘Add Nominee’ button to add a nominee. You may designate up to three people for your account. You can add up to three nominees, providing details such as their name, relationship, date of birth, and percentage allocation.

Step 3: You must provide the nominee’s name, relationship, birthdate, and % of allocation, among other things. You may distribute the funds if there is more than one nominee. You can click submit once all the information has been entered.

Step 4: Click ‘I will do it later from Settings’ if you want to opt-out.

Step 5: You can edit the nominee in the ‘Personal Details’ section.

Step 6: Go to the ‘Trading Nominee’ section, and select ‘Add Nominee.’ Provide all the necessary information and submit it.

Note: Please be aware that your Demat account’s nominee (single holder) will also be updated.

Offline (physical form) nomination process:

Trading accounts opened with ICICI Direct on or after October 1, 2021, are already compliant and don’t require any further action. But, individuals can fill out a paper form that can be obtained from the website if they would like to update or make changes. Online nomination is prohibited for joint account holders since agreement from each member is required. They can therefore update the same by physically filling out forms. You can download the opt-in or opt-out form by logging into the website. Complete the forms and turn them in at the ICICI Bank or ICICI Direct branch closest to you.

Important Points to Remember

• Nominees can be appointed by INDIVIDUALS only.

• The name and address of the nominee and the account holder’s signature are required in the form.

• Nominee ID proof is not mandatory.

• Witness names and signs are also not mandatory. Witness details are required only when the holder provides a thumb impression.

• If the customer wants to ‘OPT-OUT’ the nominee or delete the existing nominee, the same form should be filled out with ‘I do not wish to make a nomination.’