The names of parents, wife-husband, children or friends can also be registered as nominees. In making a child a nominee, care is given that a guardian has to be named for him.
It is very important to have a nominee’s name in the bank account. Unfortunately, if the account holder dies, the property gets deposited in the bank. If the nominee’s name is not registered, then one has to go through many troubles to get the property. The easy way to avoid this is to write the name of the nominee in the account. State Bank of India, the country’s largest government bank, has given online facility for this. Now the nominee’s name can also be registered through SBI website.
Nominee is the direct meaning which the account holder has nominated. Nominating means that in the absence of the account holder, who can be given his property. The nominee is not legally entitled to the property but the first right belongs to him and later the legal heir has to surrender the property. If there is no nominee in the account, there can be many problems. There are crores of rupees lying in banks which is without a nominee and no one deserves it.
Why a nominee is important
After the death of the owner of the property, the nominee has a real role. In the absence of a nominee, it is difficult to get money. If the nominee is not there, the money can be stuck for a long time. It takes a long time to achieve them in legal tricks. But the process becomes easier when the nominee stays.
You can also make a relative or friend a nominee while opening a bank account. The nominee is not necessarily the legal heir. Only one person can be appointed as a nominee. The amount in the joint account gets to the second holder first and then to the nominee.
Avoid doing this
Many times it is seen that people open the account but forget to enter the name of the nominee. Unfortunately, if something untoward happens, there are many legal issues involved in withdrawing money in such an account. Family members have to show a will and prove who is the owner of that property. It is only after several rounds of court proceedings that the rightful owner of the property gets the property. The easy way to avoid this is to enter the nominee’s name when the account is opened.
We have a good news! Now SBI customers can register their nominee by visiting our branch or logging into https://t.co/YMhpMw26SR.#SBI #StateBankOfIndia #OnlineSBI #InternetBanking pic.twitter.com/AMvWhExDre
— State Bank of India (@TheOfficialSBI) February 3, 2021
Who is a nominee
The names of parents, wife-husband, children or friends can also be registered as nominees. In making a child a nominee, care is given that a guardian has to be named for him. You can also nominate more than one person in the account. In case of a joint account, the nominee gets the property right before and only after the death of the account holder. You can also change the nominee’s name. The nominee gets full right to change, add or remove the name.
However, one witness is required for nomination, cancellation or change. If you have a joint account, approval of all is necessary for this. The State Bank has said that if the customer has not taken the facility of the nominee then he must take it. If a person does not want to choose a nominee, he has to explain the reason for this on the bank’s form. The signature of the depositor is also on this paper.
How to file nominee’s name in SBI account
1-For this you can also go to the bank branch – You can
also do this work through sbi net banking –
Nominee can also be made through sbi mobile banking.
Add names like this from SBI net banking
-Log on the bank website onlinesbi.com -Click here on the
request and enquiries menu -Click here on the
online nomination option
-If you have many accounts of SBI, then all will appear here -Here you have
to click on the account in which you Want to create a nominee
– Now click on the continue tab – Here you have
to tell about the nominee’s name, date of birth, address and relationship with the account holder
– Now click on the submit tab –
Enter the high security password on the registered mobile number Please
click on the confirm button to enter the name of -Now nominee
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