How to describe fixed deposit accounts in the 'Will'?

Fixed deposits are the instruments which have got a provision of nomination and once the name of the nominee is mentioned there by the depositor then after his death the fixed deposit goes to the nominated person. So while making a will one has to first check the name of the nominee which he had earlier mentioned at the time of applying for that fixed deposit. Sometimes we do not remember or keep a track of that so we have to check it either online or from the physical FD advice/receipt.
Next thing is that if the name of the nominee is same as the person to which one is going to will his FDs then there is no problem but if it is different then one has to get the name of the nominee removed from the FD and mention the FD in the will. If this care is not taken then mentioning it in the will subsequently will create a situation of conflict and legal issue would arise.
For mentioning any FD in the will one has to mention it with all the details like principle amount, duration including the extensions especially in the case of automatic renewals. It has to be specifically mentioned that the maturity amount after the automatic renewals will go to the person in whose name the will is made.

Fixed deposits are made for our own safety so that the same may be utilised in the event of our crisis. Apart from Fixed Deposits made in Nationalised Banks or even in the Private Banks such ICICI, Axis Banks, Kotak Mahindra etc need to mention the name of nominees so that in the case of any untoward happening of the depositor, this could be disbursed to such beneficiaries.
In your case if a will is made to so that payment is to be made in his favour in the event of casualty, it cannot be processed for payment in favour of the person for whom we want to make a will.
What is required from your end is to follow the following steps -
1) Take the consultation of a lawyer so as to facilitate the process in his favour.
2) His name must appear in the nomination facility indicating the extent of payment to be made to the beneficiary in terms of percentages. If full payment is to be made in his favour, nominees appearing for the said fixed deposits is to be withdrawn with a written information to the concerned bank officials.
3) Let the lawyer make a draft of will letter and the same is to be approved by the Notary Magistrate.
4) A copy of the same is to be kept by the lawyer himself so that he would ensure the processing of such payments in the hours of need.

A nominee is different and a legal heir is different. A nominee is a custodian of your money and he has to ensure that the money reaches the correct person. If the money you are depositing in the bank is your own earned money and if you want to give it to a person other than your legal heir, you have to make a will. If you want to give it to the legal heir only you can make him the nominee and there is no necessity of writing a will for that amount as the money goes to the legal heir only.
Another point to be noted is that the will is made much before the death of the individual and in between after making the will and before the person dies there may be many changes. So the will made by the individual will be with the lawyer and he will only reveal the same after the death of the individual. So one should consult the Lawyer before making the will and take his suggestions and make accordingly. Another thing is that making we'll much in advance is not good as it will not reflect the position as on the date of death.
If you are going to give the same to one of the legal heirs there is no problem. One of the legal heirs can be made the nominee. Then automatically all the legal heirs will get the money as per the proportions. These days sons. daughters and wife will be the legal hires.
If you want to give somebody else a will is important. Otherwise whatever money you want to give him can be fixed in that person's name itself so that there is no necessity of mentioning it in the will. Otherwise, you can write a percentage of the amount that will be realised from FDs to the person whom you want to give. For example, you have 10 FDs Mention all those FDs in the will. Mention the percentage you want to give that particular person with all the details of the person.