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Can Wife withdraw fixed deposit in joint name
17-Jun-2023 (In Banking / Finance Law)
I had fixed deposit in joint name of my spouce. We had given E&S option at the time of depositing of money. My spouce before maturity of FD, visited the bank and got released the FD(cancelled) with single signatures. Can I claim the money from bank as FD has been cancelled before maturity without informing to me.
If the FD is in joint name with either or survive option then your wife can operate the FD with her single signature . The bank has acted as per the mandate decided by you . Had you requested the bank to change the option then you could have sued the bank . Now you need to file a suit for recovery of the withdrawn amount against your wife .
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Adv. Suneet Bhardwaj
Delhi | 25+ Answers
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