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Nomination Facility:
Bank offers nomination facility in deposit accounts, safe deposit
lockers, articles in safe custody,etc. Nomination facility is available
on all deposit accounts opened by the individuals. Nomination is also
available to a sole proprietory concern account. Nomination can be
made in favour of one individual only. Nomination so made can be cancelled
or changed by the account holder/s any time. While making nomination,
cancellation or change thereof, it is required to be witnessed by
a third party. Nomination can be modified by the consent of account
holder/s. Nomination can be made in favour of a minor also subject
to other major individual being named appointee(s) during the minority
period.
The bank recommends that all depositors avail nomination facility.
The nominee, in the event of death of the depositor/s, would receive
the balance outstanding in the account as a trustee of legal heirs.
The depositor will be informed of the advantages of the nomination
facility while opening a deposit account. |
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