Add Nominee in SBI Bank Account | Change Nominee in SBI Online | How To Check Nominee In SBI Online | How Many Nominee In Bank Account
The State Bank of India (SBI) is the largest and most reputable public sector bank in India. Customers can choose from a variety of banking products and services. When you open a new account with the State Bank of India, you have the option of adding a nominee. Have you given your State Bank of India account a nominee? If not, there’s no need to go to the bank; you can Add Nominee in SBI Bank account online instead. In this article, you will learn How to Add Nominee in SBI Bank Account Online.
SBI net banking and mobile banking can be used to simply register a new nominee. If your account is active, you can update your SBI nomination at any moment.
Table of Contents
What is Nominee in SBI Bank Account?
The nomination is a service provided to depositors. It allows a bank account holder to name a beneficiary to receive the account’s proceeds in the event of the depositor’s untimely death. The State Bank of India offers nomination services for all sorts of deposit accounts. A nomination can only be made in one person’s favor.
Following the tragic death of the original depositor, the State Bank of India distributes the account proceeds to the nominee. A succession certificate or legal heir documentation will not be required by the bank.
Add Nominee in SBI Bank Account Important Points
- All bank accounts, goods in safe custody, and safe deposit vaults have the provision to choose a nominee for it
- Accounts opened in individual capacity (i.e. single / joint accounts as well as accounts of a sole proprietorship firm) are eligible for nomination, but not accounts opened in representative capacity.
- A nomination can only be made in one person’s favor. However, with jointly administered locker accounts with common permission, nominations in favor of more than one person (i.e. up to two people) are permitted.
- The account holder can make, cancel, or change his or her nomination at any moment during his or her life. A witness is necessary when making a nomination, cancellation, or variation, and the request must be signed by all account holders.
- A nomination can also be submitted in support of a minor. During the time that the minor is not of legal age, the natural guardian will receive the money on behalf of the minor.
- Account holders who have not yet submitted a nomination for an existing account can do so by filling out a form available at the bank.
- Only after the death of the depositor in a single account or the death of all depositors in a joint account does a nominee have the right to receive payment from the Bank.
- Customers (both new and existing) are encouraged to use the nomination service if they have not already done so. If the depositor(s) do not desire to make a nomination, the depositor(s) must indicate this on the account opening form with their complete signature.
Add Nominee in SBI Bank Online – Process
The following methods can be used to add a new nominee to SBI online:
1. Using SBI’s net banking
2. Making use of SBI’s mobile banking
Adding Nominee for SBI Account Online through Internet Banking
You can register a nominee online by logging into SBI Internet Banking. To use this service, your account must have an active SBI net banking service. If you have not yet activated your SBI online banking account, do so now.
Following are the steps to add a nominee to your SBI account using Internet Banking
- First of all, go to the SBI official website i.e. https://www.onlinesbi.com/.
- Click on the login option under Personal Banking.
- A new page will open as shown below. Click on continue to Login option.
- Enter your login and password to access your internet banking account.
- Click on login option.
- From the menu, select the “Request & Enquiries” tab after logging in.
- Scroll down the page. You will find the option of ‘Online Nomination’.
- Click on this option.
- Once you click on this option, a pop up message will open up regarding the eligibility of a nominee
- Go to the Registration Nomination option in case you have not nominated any individual before.
- Also select the account for which you wish to choose a nominee and click on continue.
- On the next page, fill the details of your nominee like name, dob, address of nominee and relation of nominee with the depositor.
- Click on submit option.
- Verify the details on the screen and click on submit option.
- After that type the OTP which is sent to your registered mobile number and click on submit option.
- A message shall be displayed on the screen indicating Nomination has been successfully created.
- In case you want to check your nominee has been added or not. Click on the Inquire Nomination option to check your nominee
Adding Nominee in SBI Account Online through Mobile Banking
You can use Mobile Banking to register a nominee in your SBI account. You must first log in to Yono Lite SBI – Mobile Banking App to use this service.
Following are the steps to use mobile banking to register a nominee in a State Bank of India account.
- Open Yono Lite SBI – Mobile Banking and log in.
- After logging in, select “Services.”
- On the next screen, select “Online Nomination.”
- On the next screen, you must choose your account type and account number.
- Select “Register Nomination” button
- Enter the Nominee’s name, date of birth, address, and relationship to the depositor here.
- At this point, you must submit your request to add a new nominee.
Points to Remember
- If you already have a registered nominee on your account. A message will appear on your screen. “Nomination is already registered for this account”. To make a change to your nomination, you must first cancel your current nomination. Then add a new nominee to the list.
- Only single-user accounts have the ability to register nominations online. You must contact your home branch to register a nominee for a joint account.
- The nomination may only be made in one person’s favor. A Trust, Association, Society, or Organization, or any office-bearer, cannot be a nominee.