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Bank F.D. kept on my father's name and i was second holder


09-Nov-2023 (In Family Law)
I kept Bank F.D. long back in 2002 in bank on my father's name. He was first holder and I was 2nd holder and my father died in 2020. Is my brother applicable to take money from that Bank F.D. Pre-Maturity means maturity in death. Please advise me.
Answers (1)

Answer #1
535 votes
Well, since you & your Father were holding a Joint Bank account together, so after the death of father, your Brother cannot be held eligible to take or receive money. Instead, being a second Holder after your Deceased Father, now, you can become the first and sole Holder of the FD and can withdraw it before Maturity or at the time of Maturity. However, if you withdraw before Maturity, then, you will be paid less amount of interest on the FD kept with Bank for less amount of time than wad decided. Maturity means the term or time period within which the facility of keeping your FD comes to expiration.
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