State Bank Of India Either Or Survivor

Hi me and my friend want to open a joint account in the State Bank Of India we got a term called the Either Or Survivor so can you please describe me on the same ??? also tell me how to open an account.

[Rajkumar Agarwal]

Well he joint account holders can give any of the following mandates for the disposal of balance in the accounts:

Either or Survivor

Anyone or Survivor/s

Former or Survivor

Latter or Survivor

Either or Survivor:

If the account is held by two individuals say, A & B, the final balance along with interest, if applicable, will be paid to survivor on death of any one of the account holders

Other mandates which you can use

Anyone or Survivor/s:

If the account is held by more than two individuals say, A, B and C, the final balance along with interest, if applicable, will be paid to any one of the joint account holders or to the survivor(s) on death of any one/two account holders.

Former or Survivor:

If the account is held by two individuals say, A & B, the final balance along with interest, if applicable, will be paid to A on death of B. Similarly in case of death of A it will be paid to B.

Latter or Survivor : :

If the account is held by two individuals say, A & B, the final balance along with interest, if applicable, will be paid to B on death of A. Similarly, in case of death of A it will be paid to B.

To open account visit youe nearest branch

Fill the application form there

Take 1000/ money with you

Take a photo and the identity proof to open an account