State Bank of India (SBI) the largest commercial giant of India enables its customers to digitally appoint a nominee to the SBI account from the convenience of their home or workplace. It means that customers of SBI Bank do not have to visit now to their nearest bank branch to update the details of the nominee. For all savings accounts, items in lockers, and secure deposit vaults, State Bank of India provides customers a nomination provision. For accounts opened in an independent context, individually, jointly, or an account with a sole proprietary concern the nomination service is only available. The nomination can be formed, cancelled, or modified by the account holder at any time during his or her entire life. The nominee is necessary and all account holders must accept the request before making the nomination, cancellation, or modification. SBI stated on its website that if they have not been used so far, both existing and new customers are recommended to use the nomination service. In the event that the depositor does not intend to render a nomination, the depositors with their full signature should disclose the same on the account opening form.
Ways to add a nominee to your SBI account
Currently, there are two online ways which are as follows to add a nominee:
- Via SBI Net Banking
- Via SBI Mobile Banking using YONO app
Procedure to add a nominee via net banking
- Visit onlinesbi.com and sign in to your account using the required credentials i.e. User ID and Password.
- Click on the 'Online Nomination' option, and you will get the list of all your active accounts.
- Now click on the 'Continue' option and enter the details of nominee, date of birth, and relationship of the nominee with you.
- Click on the 'Submit' option and authenticate the high-security password which you will get on your registered mobile number.
- Finally, in order to add a nominee click on 'Confirm' and you are done.
Procedure to add a nominee via mobile banking
Using Mobile Banking, you can register nominees online with your SBI account. You need to log into the Yono Lite SBI Mobile Banking App to take advantage of this service. Follow the below listed steps for the same:
- Open the SBI YONO Lite app and sign in to your account
- Now tap on "Services" option and on the next screen tap on "Online Nomination"
- Now on the next screen select your type of account and account number from the drop-down list.
- Now tap on the "Register Nomination" option and enter Nominee Name, DOB, Address and Relationship of the nominee with you.
- Tap on 'Submit' to add a nominee successfully.
Points to note
- If it has a current approved nominee in your account. On your device screen, you'll get a notification i.e. "Nomination is already registered for this account".
- First of all, to modify the nomination, you need to revoke your current nomination to add a new nominee.
- The Online Nomination Registration Service is available for single-user accounts only. You have to call your home branch to appoint a nominee for a joint account.
- A nominee, or other office-bearer, should not be a trust, association, society or organisation.