Importance of nomination
For every saving and fixed deposit account held by you, nomination is of utmost importance. In case of any unforeseen circumstances, the facility of nomination is of great utility to the next of kin of the account holder(s). With nomination, the proceeds of your savings and fixed deposit accounts are easily credited to the nominees, in case of the most unfortunate event of the passing away of the account holder(s). Unfortunately, in life we may experience some unforeseen circumstances, where the nominee himself or herself passes away. In such circumstances, it is important to inform the bank of the same and at the same time an application is submitted to the bank requesting them for change of nominee. By changing the nomination details of all your accounts, your hard earned savings will thus be protected and your next of kin will have the least trouble in reclaiming them in case of the unfortunate event of death of the account holder(s).
The following Sample letter to bank for change of nomination details on account of death of nominee. While writing a letter to the bank on such issues, I will request readers to take care to replace the names and account details, wherever appropriate. The names, addresses and account details mentioned here in the sample letter are all fictitious. You will need to attach a copy of the death certificate of the original nominee along with the application. Some banks may ask you to fill a separate nomination form to be filled along with the application. In case you have multiple accounts in the same bank, mention the details of each account in the same application. Some banks may sometimes ask for a separate application for each account.
Sample Letter to Bank for Change of Nomination Details on Account of Death of Nominee
F/269-C, Block 1
Gulmohar Park, Hyderabad 5020**
05 December 2016
The Branch Manager
State Bank of Hyderabad
Sub: Request for changing nomination details on account of death of nominee
I am an account holder of your esteemed bank. I have the undermentioned savings account and term deposit accounts held jointly by me and my wife Sunita Pradhan in this branch of yours. For all our joint accounts, I had my mother Smt Asha Pradhan as the nominee. Unfortunately my mother expired on 20 November 2016 due to natural causes. I am submitting a copy of the death certificate of my mother in this regard.
On account of this, I am requesting you to please replace the nomination details of my late mother with that of my son Arvind Pradhan. Since my son is still a minor as he is of 12 years of age, I am also providing the details of a guardian for him, till the age my son turns a major.
I thus request you to please bring in the necessary changes in this regard. All necessary details are appended below.
My account details are as follows:
Original nominee: Late Smt Asha Pradhan (mother)
New nominee: Arvind Pradhan (son)
Guardian for minor: Raghuvir Pradhan (brother)
Address of guardian: Flat no. 1165A,
Brindavan Apartments, Ashok Nagar,
Hyderabad – 5020**
Enclosure: A copy of the death certificate of original nominee
Some points to note
In case you have any other valid reason for change of nomination, give proper justification and provide for documentary proof. Do remember to change the nomination details at the earliest. Never ever leave it on chance. Utilize the benefits of nomination as it will be of great help to your next of kin in case of unforeseen events. In case a nomination form is given by the bank, then fill all the necessary details along with signatures of all account holders. Need not to give the details of a guardian, in case the new nominee is not a minor.
Dhruv is an electrical engineer by profession. Apart from liking his job, he has a special love for writing and has often dabbled in writing scripts for skits and short plays. As a Content Developer at ISC, Dhruv is having a whale of a time, showcasing his writing skills.
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