How To Register Nominee Online in SBI?

How To Register Nominee Online in SBI?

Nomination allows a bank account holder to choose someone in event of untimely death to claim the contents of the account. The appointment of all kinds of deposit accounts is authorised at the State Bank of India and can only be made on behalf of a single individual.

State Bank of India (SBI) customers are able to digitally select a nominee to their SBI account, thus they do not have to physically visit their local bank branches to enable the appointment procedure to be carried out.

Also Read: SBI: How To Update Email Account Online?

India’s largest lender has notified its clients that “Would you like to add a candidate to your account? With OnlineSBI & YONO Lite, you can effortlessly register a candidate. Enjoy our online services in your convenience area. Stay home, stay secure. Stay safe.”

You may register your SBI account nominee by physically visiting your nearest bank branch using SBI net banking or using SBI mobile banking.

Due to the current pandemic in the nation, however, it is strongly recommended that you carry out all of your banking activities online. Therefore, if you are an SBI client and desire to register a candidate, utilise either of the two easy ways stated below.

Steps to add a nominee through SBI net banking

  • Visit onlinesbi.com and sign in to your net banking account using the required credentials i.e. Username and Password.
  • Under the menu section, click on ‘Request & Enquiries’ Now your screen will display all your active accounts from which you need to select the account for which you are going to add a nominee.
  • Click on ‘Continue’ and Nominee Name, Date of Birth, Address and Relationship with the account holder.
  • Click on ‘Submit’ and you will now receive a high-security password on your registered mobile number.
  • Enter the received password and click on the ‘Confirm’ button to complete the registration process.

Steps to add a nominee through SBI mobile banking

  • Open the SBI YONO Lite app on your mobile phone and sign in to your account using the required credentials.
  • Now tap on “Services” and select the “Online Nomination” option.
  • Now from the drop-down menu select your type of account and account number for which you want to add a nominee.
  • Now tap on “Register Nomination” and specify Nominee Name, DOB, Address and Relationship.
  • Once done, confirm the entered details and tap on ‘Submit’ to complete the registration process.

SBI Nomination facility

As discussed above, SBI online banking and mobile banking can be used to quickly register a new nominee. However, there are a few things to keep in mind that SBI has made public on its website.

  • All bank accounts, articles in safe custody, and safe deposit vaults have the option of being nominated.
  • Accounts registered in an individual capacity (i.e. single/joint accounts as well as accounts of a sole proprietary concern) are eligible for nomination, but not accounts made in a representative capacity.
  • A nomination can only be made in one person’s favour. However, with jointly managed locker accounts with common approval, nominations in favour of more than one person, i.e. up to two individuals, are permitted.
  • The account holder can initiate, cancel, or change his or her nomination anytime during his or her existence. A witness is necessary when making a nomination, cancellation, or adjustment, and the request must be acknowledged by all account holders.
  • A nomination can also be lodged on behalf of a minor. During the time when the minor is not of legal age, the legal guardian will receive the amount on behalf of the registered minor.
  • Account-holders who have not yet registered a nomination for an existing account can do so by filling out a form accessible at the bank branches.
  • Only after the death of the depositor in a single account or the death of all depositors in a joint account, a nominee have the right to receive payment from the bank. If they have not done so before, new and existing customers are allowed to use the nomination option.
  • If the depositor(s) do not want to make a nomination, the depositor(s) must indicate this on the account opening form with signature.

Rajat Singhhttps://bioinformaticsindia.com
Rajat Singh is the chief Author at Bioinformatics India, he has been writing for the past 3 years and has a special interest in SEO, Technology, Health, Life Sciences and gaming.

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