Have you added a nominee to your savings or fixed deposit account? If not, it’s essential to do so to avoid complications in transferring funds in case of the account holder’s death.
Without a nominee, the process of transferring money to the account holder’s family can be lengthy and difficult.
Here’s how you can add a nominee to your State Bank of India (SBI) account, ensuring a smooth process for your loved ones.
Steps to Add a Nominee via Netbanking
Activate Netbanking First (If Not Already Active)
If you have an SBI account but haven’t yet activated netbanking, start by applying for this service.
Visit your branch, fill out a form to request netbanking, and you’ll be ready to manage your account online, including adding a nominee.
How to Add a Nominee Using Netbanking
- Log in to Onlinesbi.com with your user ID and password.
- Navigate to the ‘Requests and Inquiries’ section in the menu.
- Click on the ‘Online Nomination’ option.
- Choose the account where you want to add a nominee and click ‘Continue.’
- Provide the nominee’s details, such as name, date of birth, address, and their relationship to the account holder.
- Submit the form.
- Enter the high-security password sent to your mobile phone.
- Click the ‘Confirm’ button to complete the process.
Adding a Nominee by Visiting the Branch
If you don’t use internet banking, you can also add a nominee by visiting the SBI branch.
It’s easier if you download the nomination form from the bank’s website, fill it out, and take it to the branch. The bank will assist in updating your account with the nominee’s details.
Remember, you can add or remove a nominee at any time, and in the case of joint locker accounts, up to two nominees can be added.
By adding a nominee, you ensure your loved ones can access the funds without hassle during difficult times.
What to Do If You Don’t Have Netbanking
If you don’t yet have netbanking access, you’ll need to apply for it. Simply visit your SBI branch, fill out the required form, and submit it.
Once your netbanking is activated, you can easily add a nominee online by following the steps above.
