Step by Step Process to update nomination in Kfintech
Smart Money May 19, 2023
Tina – Thankyou so much for guiding me through the CAMS website. It was really helpful!
LXME Money Coach – You’re welcome, Tina! I’m glad I could assist you with the CAMS procedure. Did you manage to update your nominee details there?
Tina – Yes, I successfully updated my nominee details on CAMS. However, I was not able to find all my mutual fund folios on CAMS website.
LXME Money Coach – You may find the remaining folios on Kfintech website. Depending on your mutual fund house, you may need to visit CAMS or Kfintech website to update nominee details online, as they are not all accessible on a single site.
Tina – Oh okay! I’ll need your help with the nomination process on the Kfintech website as well. Could you guide me through that?
LXME Money Coach – Absolutely, Tina! I’m here to help. Let’s now go through the step-by-step process of updating nominee details on the Kfintech website. Together, we’ll ensure that all your nominations are up-to-date.
Tina – Thankyou so much. Your guidance has been invaluable throughout the process.
You can update your nomination online from Kfintech website by following the below process –
- Firstly go to the Kfintech website, click on ‘Nominee Updation’ and enter your PAN number. ()
- Once you enter your PAN number, your details will appear. Select your mode of holding and for which mutual fund folio you want to update your nominee. Confirm your email ID and generate OTP and enter the same.
- Select the mutual fund folios for which you want to update nominee details, and select if you want to opt in or opt out of nomination.
- If you selected “ opt in” then add the required nominee details. You can select up to 3 nominees and the percentage of share each nominee will get.
- Once you add the nominee details click on “Save” and generate OTP.
- Enter OTP and submit.
- Once you submit the OTP, your Nominee will be updated.
What happens if you don’t make a nomination for your mutual fund investments by 30th September 2023?
As per the SEBI circular, failure to update the nomination details or opt out of nomination by 30th September, 2023, will result in investors’ folio being frozen and they won’t be able to redeem their investments.
If you haven’t nominated anyone for your mutual fund investment yet, then make sure to do so before 30th September, 2023!
Click here to know more about the Nomination process!
Click here to know the step by step process to update nomination details from CAMS website!
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