Skip to main content
Bank Deposits

Nomination

Account holders often receive requests from banks to make nominations, a process where they select individuals to receive the money in their accounts in case of their passing. This can be done either in the account opening form or on a separate form with the nominee's name and address. It's worth noting that nominations can be changed at any time, giving account holders the flexibility to update their choices as needed.

Related terms

Renewal of deposit

Understand the meaning and definition of Renewal of deposit in the context of stock market, trading, and investments.

MORE
Bank

Understand the meaning and definition of Bank in the context of stock market, trading, and investments.

MORE
Interest payout

Understand the meaning and definition of Interest payout in the context of stock market, trading, and investments.

MORE
Bank fixed deposits

Understand the meaning and definition of Bank fixed deposits in the context of stock market, trading, and investments.

MORE
NRO

Understand the meaning and definition of NRO in the context of stock market, trading, and investments.

MORE
FCNR

Understand the meaning and definition of FCNR in the context of stock market, trading, and investments.

MORE

Open Free Demat Account!

Join our 3.8 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
10 Cr+DOWNLOADS

Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Scan this QR code to download the app
Get it on Google PlayDownload on the App Store

Open Free Demat Account!

Join our 3.8 Cr+ happy customers
+91