My father made an FD from his Current A/c in which I was the joint holder in the account. But after his demise I am not able to redeem that FD in my account since the financial rights to redeem the FD lies with my father's account.
My query is can I redeem the FD from his account now and take FD amount in his bank account and transfer it to my mother's bank account since she is made the nominee for that FD.
24 June 2024
Submit death certificate to bank, and apply for transfer of the shares of his ownership in favor of nominee (i.e your mother). The linked account will automatically get changed.
CAclubindia
