New Delhi: Savings bank account nomination is an important part of ensuring the safety and transferability of your assets. Nominations ensure that bank account holder is able to pass on their money and savings parked in their bank account to their heirs or family members even after their death. Banks require accountholders to add nominees to their bank account as well as deposits kept with the bank. Demat accounts also require individuals to add nominees.
Nominations are an important part of ensuring financial continuity and security for one’s family. Nominations are now a non-negotiable part of opting for any financial service.
What happens if there is no nominee?
In the absence of a bank account nominee, the legal heirs of the deceased accountholder must be identified first. The heirs must secure a legal heir or succession certificate. Banks may also require the heirs to share additional documents to support their claim to the deceased accountholder’s funds.
How to add nominee to SBI bank account?
Follow these steps to add a nominee to your bank account:
Visit onlinesbi.com
Enter your log in ID and password
Toggle to request and enquiries in the menu
Choose online nomination
Choose the account you aim to add the nominee to
Enter details of the nominee such as their name, date of birth and relationship with you
Submit the information and enter the password sent on your registered mobile number
Click on ‘confirm’ to finalise the addition of the nominee
How to add nominee using SBI YONO app
Log into your YONO app
Choose services and request
Click on account nominee
Choose the manage nominee option
From the drop-down menu, choose the account number you intend to add the nominee too
Enter the details of the nominee and submit them
SBI bank accountholders can also contact their concerned bank branch to add a nominee
SBI accountholders can add nominees to their account by following a fews easy steps. Here’s why this is important. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
