How to Update Nominee in Bank, Insurance, EPF, PPF & Mutual Funds

Why Nomination Matters

Nomination ensures your money and benefits reach the right person if something happens to you. Without a valid nominee:

• Bank accounts: Money gets frozen. Legal heirs must produce succession certificate or probate (takes 6–18 months and ₹5,000–₹50,000 in legal costs)
• Insurance: Claim settlement gets delayed significantly
• EPF: Family has to go through a lengthy claim process with EPFO
• Mutual funds: Redemption requires legal heir certificate, court order, or succession certificate

Important: A nominee is a custodian, not the legal heir. The nominee receives the money on behalf of legal heirs. However, having a nominee makes the process dramatically faster and simpler.

Documents Required

For most nomination updates, you need:

• Your ID proof — Aadhaar, PAN, or passport
• Nominee's details — Full name, date of birth, relationship, address
• Nominee's Aadhaar number (required for EPFO, recommended for others)
• Passport-size photograph of nominee (some banks require this)
• Witness details — Name, address, and signature (1-2 witnesses for some forms)

1. Update Nominee in Bank Account

SBI — Online Process

1. Login to onlinesbi.sbi
2. Go to "My Accounts & Profile" → "Nomination"
3. Click "Add/Modify Nominee"
4. Enter nominee's name, date of birth, relationship, and address
5. If nominee is a minor, provide guardian details
6. Verify with OTP and submit
7. Download the confirmation receipt

HDFC Bank — Online Process

1. Login to HDFC NetBanking
2. Go to "Accounts" → "Nomination Registration"
3. Select the account to update
4. Enter nominee details (up to 2 nominees)
5. Submit with OTP verification

Offline Process (Any Bank)

1. Visit your bank branch
2. Fill Form DA-1 (for new nomination) or Form DA-2 (for changing nominee)
3. Submit with your ID proof copy
4. Nominee appears on your passbook/statement after processing

Tip: You can nominate up to 2 persons for bank accounts. Mention the percentage share for each.

2. Update Nominee in LIC Policy

Online Process

1. Visit licindia.in → Login to your account
2. Go to "Policy Services" → "Change of Nominee"
3. Enter policy number and new nominee details
4. Upload scanned ID proof
5. Submit the request — processed within 7–15 days

Offline Process

1. Download Form No. 3738 from LIC website
2. Fill in policy number, old nominee, new nominee details
3. Submit at your LIC branch with:
   • Policy bond (original)
   • ID proof of policyholder
   • Nominee's ID proof copy
4. Collect acknowledgement receipt

Note: For married women, the nominee assignment under Married Women's Property Act (Section 6) is irrevocable and cannot be changed.

3. Update Nominee in EPF (EPFO Portal)

Online Process (Recommended)

1. Login to EPFO Member Portal
2. Go to "Manage" → "e-Nomination"
3. Click "Save Family Declaration" — add family member details:
   • Name, date of birth, relationship, address, Aadhaar, photo
4. After saving family declaration, go to "Nomination Details"
5. Select family members as nominees with share percentage
6. Enter e-Sign with Aadhaar OTP to submit
7. Status changes to "e-Nomination Submitted"

Important Points for EPFO

• e-Nomination is mandatory — EPFO has been pushing all members to complete it
• Family includes: spouse, children, parents (if unmarried member)
• If married, only spouse and children can be nominated (parents cannot be nominees)
• Total share must add up to 100%
• Check nomination status under "Manage" → "e-Nomination" → "Nomination Details"

4. Update Nominee in PPF Account

At Post Office

1. Visit the post office where your PPF account is held
2. Fill Form F (PPF Nomination Form)
3. Provide nominee details — name, address, relationship, and share percentage
4. Submit with your PPF passbook and ID proof
5. Get acknowledgement on the form copy

At Bank

1. Visit the bank branch holding your PPF account
2. Fill Form F (same form)
3. Submit with passbook and ID proof
4. Some banks allow nomination update via NetBanking (check with your bank)

Note: If PPF holder dies without nomination, the legal heir must submit:

• Death certificate
• Succession certificate / legal heir certificate
• Indemnity bond
• This process takes 3–12 months

5. Update Nominee in Mutual Funds

Online Process (AMC Website/App)

1. Login to the AMC website (e.g., SBI MF, HDFC MF, ICICI Prudential)
2. Go to "Profile" or "Account Settings" → "Nomination"
3. Add up to 3 nominees with share percentage
4. Verify with OTP and submit

Through MFCentral

1. Visit mfcentral.com (AMFI's official portal)
2. Login with PAN and mobile OTP
3. Go to "Service Request" → "Nomination"
4. Update nominees for multiple AMCs in one place

Offline Process

1. Fill Nomination Form (SH-13) available from the AMC or registrar (CAMS/KFintech)
2. Submit at AMC office or registrar's branch
3. Provide PAN, folio number, and nominee details

Through Registrar (CAMS/KFintech)

1. Visit nearest CAMS or KFintech office
2. Fill the nomination form for all folios under that registrar
3. Submit with PAN copy and signature verification

Tip: If you invest through platforms like Zerodha, Groww, or Kuvera, check their app for in-app nomination updates.

What Happens Without a Nominee?

Processing Time

Important Tips

1. Update nominee after every major life event — marriage, birth of child, death of nominee, divorce
2. Nomination ≠ inheritance — a nominee is a trustee, not the owner. Will and succession laws still apply
3. Complete EPFO e-Nomination urgently — many old EPF accounts have no nomination, causing problems for families
4. Keep nominee details consistent across bank, insurance, EPF, and mutual funds
5. Inform your family about your nominations and where your financial documents are stored

Related Guides

• How to Open Bank Account Online in India
• Bank Account Frozen or Blocked — How to Unblock It
• Bank Account Aadhaar Link Not Working — How to Fix
• How to Get Bank Locker — Rules, Charges, Nomination & RBI Guidelines
• UPI Payment Setup Guide — How to Set Up & Use UPI in India

FAQs

Q1. Can I nominate someone who is not a family member?

A. In bank accounts and mutual funds — yes, anyone can be a nominee. In EPF — only family members (spouse, children, parents for unmarried members). In LIC — anyone can be nominee, but insurance benefit goes to legal heirs.

Q2. Can I change my nominee anytime?

A. Yes, nomination can be changed any number of times. The latest nomination supersedes all previous ones. Exception: LIC policies under MWP Act Section 6.

Q3. What if I have multiple bank accounts — do I need to update each?

A. Yes, nomination is per account, not per person. You must update each bank account, FD, locker, and savings account separately.

Q4. Is it mandatory to have a nominee for bank accounts?

A. RBI strongly recommends it but it is not legally mandatory. However, banks ask for nomination at the time of account opening. Accounts without nominees cause significant hardship to families.

Q5. Can a minor be a nominee?

A. Yes, a minor can be nominated, but you must also provide details of a guardian who will receive the money on behalf of the minor until they turn 18.

Q6. How do I check if my EPF nomination is updated?

A. Login to unifiedportal-mem.epfindia.gov.in → "Manage" → "e-Nomination". If it shows "e-Nomination Submitted" with family details, your nomination is active.

Q7. What documents does a nominee need to claim money after death?

A. Generally: death certificate of the account/policy holder, nominee's ID proof (Aadhaar/PAN), and a claim form. Some institutions may ask for a signature verification or indemnity bond for large amounts.

This guide is for informational purposes only and is not affiliated with any bank, insurance company, or government body. Procedures may vary — verify with your specific institution.