How to use Digilocker to share your investments details with nominees

The government’s DigiLocker is now much more than a place to store your Aadhaar, driving license, and PAN. You can also save all your financial documents there.

Not just that, in your absence, your family doesn’t need to struggle to get access to your financial assets. Instead, everything – from stocks and mutual funds to insurance and home loans – is accessible in one place, DigiLocker.

For your nominee to access your information, you have to fetch and store your financial documents in DigiLocker while you are alive.

This blog gives you a step-by-step guide to setting it up, fetching investment details, and ensuring your family can access them when needed.

Fetch data

DigiLocker is a Government of India digital wallet where you can securely store electronic versions of official documents. These documents are legally valid, just like physical originals.

You can access DigiLocker via its mobile app or website, using your mobile number and a 4-digit security PIN.

When you invest, your investments are routed through a depository, RTA (Registrar and Transfer Agent), or CRA (Central Recordkeeping Agency). These are intermediaries who facilitate the processing, recordkeeping, and reporting of your investments.

Here’s how you can search for your financial holdings inside DigiLocker:

• For stocks, search for depositories like:
  • CDSL
  • NSDL

When searching in the app, always use the full names instead of abbreviations. For example, type “Central Depository Services Limited” instead of “CDSL”.

When you generate a report here, you’ll likely get a consolidated statement of stocks including non-demat mutual fund units. To fetch this, you need to provide your PAN and demat account ID.

If your name doesn’t match exactly between PAN and Aadhaar, the document may not load. Also, since it’s early days of this feature, we noticed that results may vary person to person.

• For mutual funds, search for RTAs (Registrar & Transfer Agents) like:
  • CAMS
  • KFintech

If you don’t have a demat account, you can still access your mutual fund portfolio via CAMS or KFintech. Here, you have to generate reports from both RTAs separately.

Enter your PAN and registered email. The statement often covers holdings since January 1990.

By the way, if you want to have a consolidated view of all your mutual funds, you can also try MF Central. It gives a consolidated view across RTAs.

• For NPS (National Pension System), search for CRAs (Central Recordkeeping Agencies):
  • Protean
  • CAMS
  • KFintech

You’ll need your PRAN number. If you’ve forgotten it, check the CRA portal or the intermediary through which you invested in NPS.

If your CRA is KFintech, you can find your PRAN here.

Bank a/c and insurance

Getting a bank account statement is not a big deal, but you may not get your FD details. You’ll receive an interest certificate, though. For that, you need to provide your account or CIF number.

Some banks provide loan statements and interest on loan certificates, too, through DigiLocker.

You can also access life, health, and vehicle insurance policy details by entering the insurer name in the search bar. Input details are policy number and mobile number.

Adding a Nominee

The nominee will be able to view your financial records only in the event of your death.

DigiLocker will automatically notify them via SMS and email when it receives a death notification from the death register or KYC registration agencies.

Nominees can then verify their identity and access the deceased person’s financial information through their own DigiLocker account.

To add a nominee, you’ll need:

• Name of the nominee
• Aadhaar number
• Mobile number
• Email ID

You can also add more than one nominee.

Note that the nominee you assign in DigiLocker is not the same as the nominee registered with your mutual funds, demat account, or bank. The DigiLocker nominee can only view your documents, not claim assets directly.

The surviving joint holder will have the right over the deceased user’s assets. The DigiLocker nominee is expected to share the information with the joint holder or legal heir.

To conclude

Fetching your documents and adding a nominee is a small step that can save your family significant time and stress in the future.

Bookmark this guide and share it with others who might benefit from organizing their financial documents more efficiently.