Over 330,000 loans approved and counting!

Security & Privacy

We use the latest technology to keep your data safe.

Fast Loan Decision

You don't have to wait for the loan you need.

Deposit Funds

We deposit your money into your checking account.

How To Add Nominee In Paytm Money Mutual Fund

Published February 8, 2024

A Step-by-Step Guide to Adding a Nominee in Paytm Money Mutual Fund

how to add nominee in paytm money mutual fund

Introduction:

Investment in mutual funds has been gaining popularity in recent years due to their potential for higher returns compared to traditional investment options such as fixed deposits or savings accounts. With the advancement of technology, investing in mutual funds has become more convenient with the introduction of digital platforms like Paytm Money. However, many individuals are still unclear on how to add a nominee in their mutual fund investments through Paytm Money. In this article, we will explore the steps and important information to add a nominee in your Paytm Money mutual fund account.

Understanding the concept of a nominee in mutual funds

Before we dive into the process of adding a nominee in Paytm Money mutual funds, let's first understand the concept of a nominee. A nominee is a person who will receive the mutual fund investments in case of the investor's demise. It could be a family member, spouse, or any other person chosen by the investor. Adding a nominee in mutual funds ensures that the ownership of the investment is transferred to the nominee without any hassles.

Steps to add a nominee in Paytm Money mutual fund

1. Log in to your Paytm Money account: The first step is to log in to your Paytm Money account through the website or mobile application.

2. Click on the �Overview� tab: Once you have logged in, click on the �Overview� tab on the top menu.

3. Select the mutual fund for modification: In the �Overview� section, click on the mutual fund for which you want to add the nominee.

4. Click on �Modify� button: Once you have selected the mutual fund, click on the 'Modify' button.

5. Click on �Nominee details�: In the �Modify investment� page, scroll down, and click on �Nominee details�.

6. Enter the nominee�s details: In this section, you will be required to enter the nominee�s name, relationship with the investor, percentage of allocation, and nominee�s bank details (optional).

7. Verify the details and accept the declaration: Once you have entered the nominee�s details, verify all the information, and accept the declaration at the bottom of the page.

8. Click on �Generate PIN�: To complete the process, click on �Generate PIN� and enter the OTP received on your registered mobile number.

9. Nominee added successfully: Congratulations! You have successfully added a nominee to your Paytm Money mutual fund.

Important points to consider

- The process of adding a nominee in Paytm Money mutual funds is similar for both new and existing investments.

- You can add multiple nominees with different allocation percentages for each investment in your Paytm Money mutual fund account.

- In case of a joint account, both account holders can add nominees individually.

- To change the nominee�s details or remove a nominee, follow the same process mentioned above.

Conclusion

In conclusion, adding a nominee in your Paytm Money mutual fund account is a simple and hassle-free process that can be completed in a few minutes. It is a crucial step that ensures your investments are secured and transferred to your chosen nominee in your absence. By following the steps mentioned above, you can easily add a nominee to your mutual fund investments and have the peace of mind knowing that your loved ones will receive the benefits of your investments. So, don't wait any longer, log in to your Paytm Money account, and add a nominee to your mutual fund investments today!

 
 
Relate Post

IMPORTANT: The Operator of this website is not a lender, financial institution, loan broker or an agent of a lender or loan broker and does not make any credit decisions. This service, which connects consumers with eligible third party lenders, is free to consumers. This service does, however, receive payment from lenders for referring lead data to them. Although multiple factors dictate the order in which lenders have the opportunity to purchase a lead, the highest bidding lender will most often get the opportunity. Lenders may perform credit checks through any credit reporting bureau and may also verify the information that you provide on this form including social security number, address, phone number, employment history, bank account information etc. Information may be shared with non-lenders or other intermediary service providers (like us) to help you connect with a lender. This service works with many different kinds of lending partners, including tribal lending institutions. Federally recognized Indian tribes are independent sovereign nations and their wholly owned entities are generally not required to follow state and local laws regarding rates, fees and other loan related conditions. However, Indian tribes and their wholly owned entities are required to follow some applicable federal laws. If you are connected with a tribal entity, be sure to check their rates as they may carry higher interest rates when compared to state-licensed lenders. The Truth in Lending Act requires lenders to disclose rates, fees and other important conditions of a loan. After checking the terms, make a determination of whether or not you can afford the payments. We earnestly encourage you to reject any offer that is not within your financial means. Short-term, small-dollar loans are not a long term solution to financial hardship. You may also consider seeking professional advice regarding your financial circumstances and alternatives to loan products. Late payments of loans may result in additional fees or collection activities, or both. Each lender has its own terms and conditions. Please familiarize yourself with your lender<92>s policies for further information. Additionally, failure to repay your loan may carry nonpayment penalties and collection activities. Please review nonpayment terms with your lender directly. Every lender has a different renewal policy please review your particular lender<92>s renewal policy for more information. State Availability: Lenders that participate in the services provided by this website do not offer loans in every state. If you are from a state that the lenders do not service, you will not be able to be connected to a lender. Our service does not constitute an offer or solicitation for any loan products that are prohibited by state law. Additionally, this is not a solicitation for any particular loan and is not a loan offer.