Hdfc bank account nominee


The benefit of nomination is that in the event of death of an account holder s or locker holder s , the Bank can release the account proceeds or contents of the locker to the nominee s without insisting upon a Succession Certificate, Letter of Administration or Court Order. The nominee holds the monies in the capacity of a Trustee on behalf of the legal heirs of the deceased account holder s or locker holder s and the Bank's liability is duly discharged on payment to the Nominee.

Bank account holders having deposit accounts in their individual names or in joint names of two or more individuals can appoint a nominee to their accounts. A sole proprietor can appoint a nominee to the sole proprietorship account with the bank.

In the case of a deposit account in the name of a minor, nomination shall be made by a person lawfully entitled to act on behalf of the minor in respect of a deposit account.

Safe deposit locker holder s can appoint nominee s on their Safe deposit locker s. A nomination can be made only in respect of a deposit account which is held in the individual capacity of the depositor, and not in any representative capacity such as the holder of an office like Director of a Company, Secretary of an Association, partner of a firm, or Karta of an HUF.

How can I register a nomination? Specific nomination forms need to be completed and submitted to the Bank for registering the nomination facility. Different forms are applicable to register nominations on deposit accounts and safe deposit lockers. The Bank will acknowledge receipt of the nomination form and send a confirmation of having recorded the same. This confirmation must be kept securely either with the deposit account holder or with the nominee, if the account holder so wishes.

How can I get a nomination form? Please click here to download the nomination form from www. Please click here for the details of our branches. NRI customers can also send the forms signed and witnessed in original to the mailing address of the NRI Centre in your country of residence given here.

Nomination forms for safe deposit lockers are available at any of our branches that offer safe deposit locker facilities to customers. The specific branches are mentioned below. Please click here for the full address of the branch nearest to you. What are the basic guidelines to be followed while completing a nomination form? The account holder s need s to complete the forms in duplicate, signed by all the account holders.

Both copies of the nomination form must bear the account holders' signatures in original. The number of each account for which nomination is being made must be specifically mentioned in the nomination forms. If a minor is being nominated on the account, complete details of the guardian should be furnished.

Is nomination required to be witnessed? Signatures of the account holders need not be attested by witnesses. However, for nomination requests with thumb impression, two witnesses are required. Whom can I nominate? As per the prevailing Banking Companies Nomination Rules, there can be only one nominee per account and the nominee can only be an individual.

However different accounts can be nominated in favour of different individuals. A safe deposit locker held by a sole hirer can be nominated in favour of one individual only. However a safe deposit locker that is held in joint names and operated jointly by any two or more locker holders, can be nominated in favour of more than one individual. Can I nominate a minor?

However in case of joint accounts, the nominee's right arises only after the death of all the depositors. Can I cancel or change the nomination which was made earlier? While making nomination, cancellation or variation, rules applicable to the witness need to be followed.

I have multiple accounts; can I nominate different individuals on each account? However separate nomination forms need to be completed for each nominee. Nominations for multiple accounts having the same nominee may be recorded on one form provided each account number is specifically mentioned on the form.

Can I make a blanket nomination or leave a standing instruction with the Bank to automatically record a nomination for future deposit accounts proposed to be opened under an existing customer record? No, as mentioned earlier, nomination is registered at an account level Hence, it is not possible to make a nomination for future accounts, deposits that might be opened under a particular customer record.

The nominee can approach the Bank with the complete set of documents required. However the basic documentation requirements include — Claim Form Covering letter from the nominee advising the Bank that he is the nominee and his preferred method of receiving the funds claimed.

Cashier order, Demand draft, EFT, etc. Please note that the proceeds of the nominated accounts will not be paid in cash. A format is available with the Bank. A format is available with the Bank. The Photocopy should be sighted as original by the Bank officer. Will the nomination facility guarantee the transfer of funds to the nominee? If the nomination is not contested and subject to complete submission of documents as per the Bank's requirements, the nominee can claim the funds in the deposit accounts that he has been nominated on.

However, in case of any contest or dispute, or another claimant approaching the Bank with any legal documentation, the court decision will be binding on the Bank. Is it mandatory to nominate a new account that I am opening with the Bank? In case you need any more information, we request you to please approach your nearest HSBC branch.

Top Depository Accounts Q1. Nomination is a facility that enables a depository account holder to nominate an individual, who can claim the securities held in a Demat account, post the demise of the depository account holder s. For a jointly held demat account, in case of death of any of the joint holder s , the securities will be transmitted to the surviving holder s. Only in the event of death of all the joint holders, the securities will be transmitted to the nominee.

The benefit of nomination is that in the event of death of an account holder s , the Depository Participant DP can transmit the securities held to the nominee s without insisting upon a Succession Certificate, Letter of Administration or Court Order.

The nominee has to submit a duly filled-in transmission form, notarised copy of death certificate and an affidavit in the prescribed format to the DP. After verifying these documents and if found to be in order, the DP will transmit the securities to the account of the nominee.

Depository account holders having accounts in their individual names or in joint names of two or more individuals can appoint a nominee to their accounts. In the case of a Depository account in the name of a minor operated under guardian nomination shall not be recorded. A nomination can be made only in respect of a Depository account which is held in the individual capacity under the following Client Types and Sub-Types.

Nomination forms Annexure JA needs to be completed and submitted to the Depository Participant DP for registering the nomination facility. The Bank will acknowledge receipt of the nomination form and send a confirmation of having recorded the same along with the NRN generated.

Please click here for the address of the branch nearest to you. There can be only one nominee per account and the nominee can only be an individual. Yes, nomination favouring the minor is permitted on the condition that the account holder, while making the nomination, appoints another individual as a guardian other than the holders in the account.

I have a joint account held in joint names, how can we nominate? If there is more than one account holder then the nomination form must be signed by all account holders. However in case of joint account, where in only one holder expires then the securities will be transmitted to the surviving holder based on the request received from the surviving holders.

Where the nominee is a minor, the form will need to be signed by the guardian and a signed photograph of the guardian along with that of the nominee is affixed on the nomination form. If a minor is being nominated on the account, minor's Date of Birth DOB is mandatory along with complete details of the guardian with necessary signatures of the guardian appointed. Only for nomination requests with thumb impression, two witnesses are required.

Two independent witnesses need to be recorded on the Annexure JA. Cancellation or variation in the nomination can be made at any time as long as the account is in force. Annexure JA can be used for cancellation of nomination as well. Yes, as mentioned earlier, different individuals can be nominated on different accounts held by the same account holders.

However separate nomination forms need to be completed for each Account. Can I make a blanket nomination or leave a standing instruction with the Bank to automatically record a nomination for Depository accounts proposed to be opened under an existing customer record?

No, as mentioned earlier, nomination is registered at an account level. Hence, it is not possible to make a nomination for future accounts, that might be opened under a particular customer record. How can a nominee claim the securities in the account? In the event of death of the account holder, the nominee should contact the branch where the demat account is held, and he will be guided accordingly.

Will the nomination facility guarantee the transfer of securities to the nominee? On submission of complete documents as per Depository requirements, the nominee can claim the securities in the accounts that he has been nominated for. Is it mandatory to nominate a new Depository account that I am opening with the Bank? Depository account opened on NSDL via its depository participant has to carry a nomination. What would happen if no nomination is made for the account?

In case nomination is not made by the sole account holder, the securities would be transmitted to the account of legal heir s , as may be determined by an order of the competent court. However in cases where the value of securities to be transmitted is less than Rs. In case you need any more information, we request you to please approach your servicing Branch locally.