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Ramesh   15 April 2017

Joint account either or survivor rule on FD without nomination

My father had opened account in SBI with my mother with mode of operation as Either or survivor and I am nominee for that saving account.

On demise of my Father I want to bank and bank manager told me "Since one of the FD in saving account do not have  any nomination " So it would treated like an without nomination and you mother need to complete “SETTLEMENT OF DECEASED’S ASSETS WITHOUT LEGAL REPRESENTATION/NOMINATION DETAIL OF CLAIMANTS / DOCUMENTS SUBMITTED” form .

Need help  to know is survivor have any right?


 13 Replies

Kumar Doab (FIN)     15 April 2017

The citizens should get into the habit of keeping acknowledged copy of any form submitted to any establishment e.g; Bank and knowing the applicable rules.

Request the BM to provide a copy of original mandate/form signed by deceased and survivor.

Go thru:

RBI: Master Circular on Customer Service in Banks Repayment of Term/Fixed Deposits in banks:

20. Settlement of claims in respect of deceased depositors – Simplification of procedure

Banks maintain the guidelines and also banks internal polices on its web site, in branch and are under obligation to provide free copy to customers.

Kumar Doab (FIN)     15 April 2017

Also go thru the deceased depositor claim form tof the bank that should be on its website also like:


You seem to be confusing SB a/c with nomination and FDR without nomination.

For the FDR without nomination refer to guidelines issued by RBI and Bank’s policy framed in accordance with RBI guidelines.

Complet the claim procedure and get the money.

Ramesh   15 April 2017

Thank for response that means even account is joint with survival is fake, it can happen with anyone and what the meaning of joint account. Sorry I am confuse is any provision of adding survival in fd. We can add nominee and nominee come in picture if there is no survival for that account. Single account do not have survival rule and there is only nominee but nominee is only trustee since bank allow only one nominee.

Kumar Doab (FIN)     15 April 2017

You are mixing SB a/c and FDR.

Anyway pls redraft your query so as to convey a clear message.

Your understanding that bank allow only one nominee and nominee is mere trustee is correct.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     16 April 2017

Please understand that basically the Fixed Deposit account is a Joint account with a Either or Survivor clause. What it means. The clause gets into action only when one of the depositors is no more.  Nomination comes into picture if both of them are no more. Even in that case if one of them has not given a nomination, Banks shall ensure that a proper procedure for death claim settlement is followed,whereby the claimants have to file the required papers proving them as eligible to receive the amount.

In the instant case, since second depositor is alive, the Either or Survivor clause kicks in and the amount shall be paid to the survivor on maturity.

Further, many people do not know and understand is one crucial point in Nomination.  The Nominee is eligible to take the amount as a trustee of the amount and it is his bounden duty to distribute the amount to the rightful claimants.  Just because the name of a person is noted it does not mean that he can take the entire amount when there are other claimants.  The system of procedure of Nomination was introduced for ease of settlement of claim but not for giving the amount to a person just like that.

G.L.N. Prasad (Retired employee.)     16 April 2017

The member is not coming out with facts.

Each account is separate and treated differently as per directions in the opening forms.

Term deposit instructions are different.

Saving Bank deposit transactions are different.

EOS operates on maturity of deposits and may not be before.

Kishor Mehta (CEO)     16 April 2017

Sir, The Hon. Experts have explained in details. EOS operates only on maturity, All account holders have to sign in case of premature encashment. Good luck, Kishor Mehta

GANDHI MOHAN BHARATI (Pensioner)     16 April 2017

SIVARAMAPRASAD KAPPAGANTU has summarised the provisions precisely and comprehensively.

Read more at:

Kumar Doab (FIN)     17 April 2017

Agreed with members.

Hope you are satisfied.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     18 April 2017

In the case of a bank account, savings account, current account, fixed deposit account, recurring deposit account or any other, if the account is held jointly on either or survivor basis, on the death of one of the holders of the account, the account will automatically become the sole account of the survivor of the two. In this particular case on receipt of the death certificate of the father the bank will strike of the name of the father and the account will continue to be solely held by the mother. Any nomination jointly made during the lifetime of both will automatically lapse. The mother will have to make a fresh nomination if she so desires.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     18 April 2017

If the mother wants to transfer the funds to Ramesh, she can just do that without any kind ritual or formalities proposed by the Manager.  Or if Ramesh can wait, she can just nominate him again.

Kumar Doab (FIN)     18 April 2017

The querist may act on the suggestions in the thread and resolve his matter.

Ramesh   23 September 2020

Thanks you all for your advice and good news is I had recived money back after long documantation process

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