16Summing Up

Summing Up

If you are opening a Fixed Deposit account, then it is prudent to ensure that you appoint a nominee regardless of whether you are opting for an individual or joint account.

The RBI has laid down rules to ensure that the funds go to the rightful successors after the death of the account holder. However, it is important to ensure that you understand these rules and create nominees and account types accordingly.

Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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