I want to know can nominee withdraw money from fixed deposit or not?
This is an interesting question. Many people get confused and ask ‘can nominee withdraw money from fixed deposit account or not?’
The simple answer is yes, they can withdraw money from a fixed deposit account after the death of the original account holder. BUT, can a nominee claim this amount? That is one crucial thing. But, I am here. I will help you decode all this.
Let me first start by saying that the FD amount claim by a nominee will only be approved if they produce:
- Death certificate
- Their ID proof (ID proof of the nominee)
- Complete claim form with all the details
Once all this is done and the nominee’s claim is accepted, the FD amount can be withdrawn easily. But mere withdrawal DOESN’T give rights to the nominee to use that amount.
After the death of the deposit holder, the FD amount rightly belongs to the legal heir and distributed among them or as per the will statement.
Hope this information is helpful 