The Reserve Bank of India also recommends that you add the name of any of your close ones as a nominee in your bank account.
To keep your money safe and your loved ones get your money only after something untoward happens to you, it is necessary to have a nominee in all types of investments and insurance from banks, mutual funds, FDs. But often we leave the nominee column blank while opening a bank account or buying investment and insurance products. Over the years, the Reserve Bank has also become very serious about adding the name of the nominee. Keeping this in mind, the country’s largest bank State Bank of India (SBI) has started a special facility.
Under this, State Bank of India i.e. SBI has made it easy for the customers to add the name of the nominee in the account. Now SBI customers can add nominee name to their account through internet banking. If the customer wants, this work can also be done by visiting the branch. Also Read: NTPC Recruitment: Jobs for ITI pass in NTPC, application is FREE
SBI has given information about this in a tweet. It has been told to the customers that the account holder can add the name of the nominee by visiting the official website, for this there will be no need to visit the branch.
Know why nomination is necessary
The Reserve Bank of India also recommends that you add the name of any of your close ones as a nominee in your bank account. If you open a new account, then it is necessary to add a nominee for it, but it is even more important to add the name of the nominee in the old account. In a way, it is like a protective shield for your family. Unfortunately, if any incident happens, the amount deposited in the account is given to the nominee only.
If the name of the nominee is not there then it becomes very difficult to get the deposit amount. The legal action for this is very long. Often people do not get into this mess for a few thousand rupees. Therefore, at the time of opening a savings account in a bank, investing in mutual funds or taking an insurance policy, definitely add the name of the nominee.
Who can make a nominee
If you are married then you can enter the name of the spouse as a nominee in the account. If you want, you can nominate your child, parents, any family member or even a special friend. In the event of the death of the owner of the property or deposit, only the nominee gets the benefit. Also Read: State Bank Of India (SBI) Pension seva check benefits registration process and other details here
It is necessary to mention the name of a nominee while taking an insurance policy. You can also name more than one nominee if you want. If you want, you can make more than one person as a nominee, there is no rule constraint in this. The account holder gets this facility that he can change the name of the nominee.
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