Modify your nominee details in My Account

When you choose to invest in a fixed deposit, you can also add a nominee. This facility ensures that your FD is easily transferred to your loved ones in the event of your untimely demise.

However, if you don’t add a nominee, claiming the FD amount in the event of your untimely demise becomes difficult. In such a case, your rightful heir(s) may be asked to produce a court order or a succession certificate to claim the FD on maturity.

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  Update nominee details for your fixed deposit

  • Go to our customer portal by clicking on the ‘Sign-in’ button on this page.
  • Sign-in with your registered mobile number and the OTP.
  • Enter your date of birth for verification and proceed.
  • Choose your fixed deposit from “Your relations”.
  • Click on the ‘Add Nominee’ or ‘Edit Nominee’ option below the ‘Nominee Details’ section.
  • Enter your nominee's details, such as name, date of birth, and address. If your nominee is a minor (under the age of 18), you will be asked to provide guardian information.
  • Verify your details with the OTP sent to your registered mobile number.

  You can also update your nominee details by clicking on the ‘Manage your FD nominee details’ text below. Then, select your FD, and click on the ‘Add Nominee’ or ‘Edit Nominee’ option below the ‘Nominee Details’ section. Enter the required details and proceed.

  If your FD has a joint account holder, then the OTP is sent to their registered mobile number as well. However, only the primary accountholder of the FD can initiate renewal changes.

  The role of nominees in fixed deposit accounts

  Nominees in fixed deposit accounts play a crucial role in ensuring that the depositor’s assets are smoothly transferred in the event of their death. The nominee is a person chosen by the account holder to receive the proceeds of the fixed deposit upon the depositor’s demise. This designation is vital as it bypasses the often lengthy legal processes involved in asset transfer, such as obtaining a will or legal heir certificate. By appointing a nominee, the depositor ensures that the funds are quickly and efficiently passed on to their intended recipient. It is important to note that while the nominee receives the funds, they do so as a custodian and may not necessarily be the sole legal heir. Therefore, a nominee’s role is to facilitate the transfer, but the ultimate distribution of assets might still be subject to legal inheritance laws.

  Manage your FD nominee details

You can also view your other FD-related details such as maturity date, rate of interest and more by visiting our customer portal.