BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Any person
|
|
|
Known person only
|
|
|
Female only
|
|
|
Close blood relation only
|
Detailed explanation-1: -A nominee in bank means, as already mentioned, is someone who has been designated in the bank application as the person who would receive the proceeds of the account in the case of unexpected death. Anyone that the applicant considers to be the first relative could be mentioned.
Detailed explanation-2: -In such cases, the legal heirs need to get an affidavit from their nearest court and submit the ID proof of the heir they want to get the deposits of the account holder transferred to and also attach the death certificate of the account holder.
Detailed explanation-3: -It is not mandatory to update a nominee as per law, but you and your family can still benefit from it by adding a nominee. So, it may be in your favour to add a nominee to your bank account. For instance, IDFC FIRST Bank offers competitive interest rates on savings accounts.
Detailed explanation-4: -Nomination can be done in favour of one person only. However, nomination in favour of more than one person (i.e. up to 2 persons) is permissible in jointly operated locker accounts with common consent. Nomination can be made, cancelled or varied by the account holder anytime during his/her life time.