What are the advantages of having a nominee?
In the case of an unforeseen event, the nominee will be allowed to access the funds in your bank and/or investments without the need for legal formalities such as a succession certificate, letter of admission, or court order.
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Who can be a nominee?
A nominee can be a family member – parents, brother, sister, spouse, kids, etc.
Can the account have no nominee at all?
Yes, you can open and operate the bank account without any nominee. However, we recommend that you add a nominee right now or after some time as this is important.
What if my Nominee is less than 18 years old?
If the nominee is less than 18 years as of today, then we would require Guardian details as well, which you can input after you put in the date of birth of the nominee.
What if I do not set the nominee now, how can I do it later?
We recommend that you upload nominee details while you open the bank account. However, you can upload nominee details later as well from your account settings.