1. One of the issues I have seen with joint account mode is, the banks ask for both signatures in case of a connected FD maturity, even if the account is EOS mode. I cant understand this logic, may be they are trying to play more safe. When I questioned the bank, I did not get any proper answer. Finally, while the account is joint (EOS mode), I put the FD in my single name with second name as nominee. Understandably, they dont ask for both signatures, when a FD is created but they crib only when it matures.
    Also as per most banks, the internet banking is applicable to only to first holder.

    • It happens because Joint holding is all about mode of operation. but when you open or close the account bank needs permission of all account holders to take action. FD closing is a closing of account so both signatures are required.

  2. I feel that in case of nomination, nominee gets full right over the deposit, in case of demise of depositor. Depositor can nominate anyone, who is totally not related and hence the legar heir laws are not applicable.


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