Estate planning · Nomination
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Every bank account should have a nominee. Joint accounts can have nominees. A nominee can be a minor (a guardian must be named). Updating nominee: visit branch with nominee's Aadhaar, fill Form DA1 (for individuals), usually same day. For online accounts, update in internet banking under "Service Requests → Nomination.".
Banking Regulation Act | Banking Companies Nomination Rules 1985
If no nominee: family must apply for Succession Certificate from court (6-18 months) to claim the account. Many families discover this only at death, when the money is most needed.
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