How to register a nominee for your bank accounts, mutual funds, and EPF online

Representative image

If the bank account holder or investor dies without a nominee, the family usually has to produce succession certificates or orders from the court to get the money. The whole procedure may take months and sometimes includes legal fees and repeated visits to institutions. A registered nominee cuts through much of that paperwork, allowing the bank or fund house to release the money quickly to the person named.

With banks, mutual fund platforms, and the Employees' Provident Fund Organisation moving to digital workflows, registering or updating a nominee has become easier than before. Most people can complete the process from home using their phone or computer.

Nominee registration for bank accounts

Most major banks have now provided the facility to update nominations through their net banking or mobile banking apps. Once logged in, the option generally shows under account services or profile settings. The customer selects the account, inputs the nominee's name, relationship, and date of birth, and verifies the request with an OTP.

Some banks require a digital form submission followed by e-signing through Aadhaar-based authentication. A few still insist on a branch visit if joint holders are involved or the account was opened decades ago. Once the bank processes the request, the nominee name usually appears in the account details section online, which serves as confirmation.

Addition of a nominee in mutual funds

Nominee registration by mutual fund investors can be done through AMC websites, investment platforms, or registrar portals. Most of them prompt investors to log in to the platform, followed by selecting the folio, filling nominee details, and authorizing the change through OTP validation linked to the registered mobile number or e-mail.

For investment holdings in demat form, the nomination is linked through the depository. NSDL and CDSL have both provided online modules whereby an investor may update nominees using e-sign. Upon approval, all mutual fund units standing in that particular demat account are covered under such nomination unless otherwise specified by the investor.

Most platforms now flag non-nominated folios, and many have restricted new purchases or redemptions without a declaration. Updating nomination early avoids last-minute hassles.

Nominee registration in EPF

The EPF process is totally online through the Unified Member Portal for most employees. The member, after logging in with UAN, opens the "Manage" section and selects nomination. The system first asks for family details which should be entered fully. Only the family members as defined under the EPF rules can be nominated for the provident fund balance.

After entering nominee names and percentage shares, the member submits the request and verifies it using Aadhaar-based e-sign. Once the e-signing is successful, the nomination becomes active, and most accounts do not need employer approval. The updated nomination can be viewed under the member's profile.

This step is especially important for those who changed jobs, updated Aadhaar later, or never completed their EPF profile when they first joined the workforce.

Common mistakes to avoid

A large number of account holders fail to examine nominations after their marriage, divorce or the birth of a child. Banks and fund houses will honour the last valid nomination on record, even if it no longer reflects the family’s wishes. Another common problem relates to incomplete details, including missing dates of birth for minor nominees. In such cases, institutions may insist on a guardian’s documents before releasing funds.

The takeaway

Online registration of nominees takes only a few minutes, but saves your family from lengthy legal procedures at a critical time. A quick review across bank accounts, mutual funds, and EPF ensures that your savings reach the right hands without complications.