New Delhi: Nominee details can be updated easily mfcentral – Website launched by CAMS and KFin Technologies which provides a digital solution for better service experience for Mutual Fund investors.
Nomination makes claim settlement easier for the next of kin of the investor, especially when the individual is the primary holder and the sole holder.
Here are the steps to update nominee details on MFCentral:
Phase 1: Visit the MFCentral website (mfcentral.com) and sign in to your account by mentioning your Permanent Account Number (PAN), PAN Exempt Investor Category (PEKRN) and password details. You can also log in with the help of One Time Password (OTP). All you need to do is enter your PAN and mobile number to log in to view all your investment details.
Phase 2: Signing in requires answering the security questions mentioned when signing up.
step 3: Once signed in, you need to click on the ‘Service Request’ tab on the left side of the screen. Click on it to proceed. Note that for security reasons, service requests will only be accepted for folios registered with MFCentral.
step 4: To update the nominee details, click on the center tab named ‘Update Nominee Details’. You can add up to three nominees in a mutual fund folio.
Step 5: You can add your relative or spouse as your nominee. If you wish to add someone else, please select the ‘Others’ option and proceed. You can also add a minor as a nominee. However, it is mandatory to provide the guardian details of the nominee.
things to note
It is not necessary to submit any proof related to KYC while updating the enrollment details. However, the nominee should be KYC compliant at the time of claim.
When you choose to update more than one nominee in a folio, you can assign a share to which each nominee is entitled in the claim process. This process will help you to avoid any kind of dispute during the claim.
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