After the death of the Bank Account Holder, who will get the right over the amount deposited in the account? | Jagran Business

In the last few years, the government has laid a lot of emphasis on connecting the population from villages to cities with the banking system. Under the Jan Dhan Yojana, 44.58 crore accounts have been opened in different banks. Due to this, poor and low income groups have also reached the banks. People keep a major part of their life's earnings as savings in banks. But, on the sudden death of the account holder, many times people do not understand that who will be the rightful owner of this amount?

Every Bank Account Holder Has to Select a Nominee

At the time of opening the bank account, you are asked to fill the option of filing the nominee in the bank account on the form. In such a situation, after the death of any account holder, the nominee has the right over the amount deposited in his account. He can come to the bank and withdraw all the money and close the account. Being a nominee, one does not have to face any kind of problem in case of death of the account holder.