But are nominees the same as legal heirs? What is the difference between the two? This article covers FD nominee, legal heir rights, and why it is important to appoint them in detail. Also, it is important to appoint a legal heir and make a will to ensure the assets go to the rightful heirs. However, it has a lot of importance after the death of the investor. Who will receive the Maturity Proceeds of the Deceased if they have Appointed Both?Īppointing a nominee for investments might seem like a small and optional procedure.What Happens if no Instructions are given by the Fixed Deposit Holder?.What Happens if no Nominee or Legal Heir is Appointed?.Why should you add a Legal Heir for your Fixed Deposits?.Fixed Deposit Nominee vs Legal Heir – What’s the Difference?.Things to Remember while Appointing a Nominee.

Why should you add a Nominee for your Fixed deposits?.