How to Change Name in Demat Account

Your demat account holds your securities in electronic form, and it is essential that the details associated with the account are accurate and up to date. One such critical detail is your name. If your name has changed due to marriage, a legal name change, spelling correction, or any other reason, it must be updated in your demat account to avoid complications in transactions, corporate actions, or regulatory filings. This article provides a detailed guide on how to change the name in a demat account and what documents and procedures are involved.

There are several legitimate reasons why investors may wish to update their names in demat records:

• Marriage or divorce: Individuals may change surnames or revert to their maiden name
  

• Spelling corrections: Errors in the original KYC or demat records
  

• Legal name change: Due to personal, religious, or administrative reasons
  

• Change in order of initials: As per legal documentation or official records
  

Regardless of the reason, it's important to ensure that the name in your demat account matches with the name on your PAN card, Aadhaar card, and other KYC documents.

The name change request must be submitted to the Depository Participant (DP) with whom your demat account is held. DPs are registered agents of depositories like NSDL or CDSL. Examples include banks, stockbrokers, and financial service providers.

If you hold demat accounts with multiple DPs, the name change must be initiated separately with each one.

Here is a stepwise breakdown of the procedure to help you make the necessary updates smoothly:

Step 1: Visit or Contact Your Depository Participant

Reach out to your DP via their branch, customer portal, or helpline to initiate the name change request. Ask for the specific form required for name correction or name change.

Step 2: Fill Out the Name Change Request Form

You will need to complete a Client Modification Request Form or Demat Account Details Modification Form. Fill in:

• Your old name (as registered in the demat account)
  

• Your new name (as per legal documents)
  

• Demat account number and client ID
  

• Signature (must match the one on record)
  

Some DPs may offer downloadable forms on their websites.

Step 3: Attach Supporting Documents

You’ll need to submit supporting documents based on the reason for the name change:

For Marriage or Divorce:

• Self-attested copy of marriage certificate or divorce decree
  

• Copy of updated PAN card
  

• Aadhaar card or other address proof (if applicable)
  

For Spelling Corrections:

• Application letter stating the error and correction required
  

• Proof showing the correct spelling (e.g., PAN card, passport)
  

For Legal Name Change:

• Gazette notification for name change
  

• Copy of updated PAN card
  

• Recent passport-size photograph (if requested)
  

Make sure all documents are self-attested and match the new name being requested.

Step 4: Submit the Documents to the DP

Once the form and documents are ready, submit them to your DP’s registered office, branch, or upload them online if your DP supports digital processing. Ensure that you keep the acknowledgment receipt for your records.

Step 5: Verification and Processing

The DP will verify your request and forward the information to the relevant depository (NSDL or CDSL). The updated name will reflect in your demat account once approved.

This process typically takes 5 to 15 working days depending on the completeness of documents and the DP’s workflow.

To avoid delays and ensure successful processing, here are a few tips:

• Ensure your PAN card is updated with the new name before initiating the demat change
  

• The name on all documents must match exactly — discrepancies can lead to rejection
  

• Notify your stockbroker or trading platform if they are separate from the DP
  

• If shares are jointly held, the other holders’ details remain unchanged unless they also apply
  

It’s also a good idea to update your name across all financial records simultaneously to avoid mismatches in future transactions.

Once your demat account is updated, you will receive a confirmation from your DP. The next steps include:

• Cross-checking your account to ensure the change has reflected correctly

• Informing relevant institutions such as banks, mutual funds, and insurance providers

• Updating your name in KYC records via the KYC Registration Agency (KRA) if not done already

• Ensuring smooth settlement of trades and hassle-free ability to transfer money from demat account proceeds to your linked bank account

The updated name will apply to all securities held in the demat account, including stocks, ETFs, bonds, and government securities.

Changing your name in a demat account is a straightforward yet essential process that ensures your financial records remain accurate and consistent. Whether due to marriage, legal reasons, or correction, timely updating helps maintain smooth access to trading and investing without any disruptions. By following the prescribed procedure and submitting the required documents, you can ensure that your updated name is officially recorded with your Depository Participant.

This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.