Legal Question in Banking Law in India
if either expired can survivor get premature payment of fixed from bank
Asked on 12/08/10, 9:58 am
2 Answers from Attorneys
Shaji Natarajan
Salam Advocates & Legal Consultants
If the Account is Either or Survivor and one of them dies then the Account would devolve on the Survivor. It is for the Survivor then to decide about how to deal with the Account, depending on the type of Account and the terms and conditions therein.
Best Regards,
Answered on 12/08/10, 6:59 pm
J. Radhakrishnan
independent Practice
The survivor can have the deposit foreclosed before maturity. He will lose some interest on the same, that is all.
Answered on 12/10/10, 8:00 am
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