I thought the FD matter was over but there were so many discussions. I wrote on that day which is perfect. What sekar wrote if it is ind dep; if jointly held, on production of death cert , it will become ind ac. Then premature closure depending upon the monthly, qrly half yearly etc the latest due will not be paid or recovered if credited. Also if preclosed or any way the amount will be deposited only in a bank account from which alone later one can close the account etc. The bank balance in whatever shape is only an asset; and all the legal formalities will be required; and with will or intestate , law will follow. You can draw in an emergency only from his or her account and cannot expect the bank to oblige you , relating to husband/wife, children etc relationship. So every one who might be performing certain actions must have accounts in the bank. Or hold some cash at home or credit cards on major incumbents. The distribution of dep must be something convertible between savings and dep , short term and long term dep. One cannot blame the bank. Nomination is not a will . KR IRS 28 9 23
On Thu, 28 Sept 2023 at 18:04, 'gopala krishnan' via iyer123 < [email protected]> wrote: > Dear Mr Sekar, > > I made the response based on the experience of SriRamajayam with Bank of > India, the Branch manager showing RBI regulation to close the T D R before > maturity either or survivor case. He posted it in our forum. > > I will also going to S B I in another two days and hope I could contact > manager. All others will be busy to dispose tokens. > > One point you have written is salient, make deposit for 3 months so that > maturity date will be near. But the main problem is since *Husbands carry > out all works, women folks are least bothered about all these things or > any talks on these subjects. * > > One important item is family pension. So far the bank processed. Now in > Telecom it is circle pension section do it. This means for my family > pension case *when if it occurs it has to be processed in Trivandrum. So > now the instruction given to my son has to be changed.* > > According to* Sri Ramajayam, consent from all children is required to > pay the either or survivor FD to wife of late husband, when money was > immediately required ...* > > > *Further if will is prepared they require will copy. Then what purpose is > served by E or S T D Rs. Pathetic situation especially if T D Rs are for > large amounts. * > > > *In present days it is quite natural one son/ daughter may deny to sign > consent on one ground or other. or away in foreign country * > > *Gopalakrishnan. * > > On Thursday, 28 September, 2023 at 03:12:13 pm IST, Narayanaswamy Sekar < > [email protected]> wrote: > > > > > > Thanks Sri Mani and Sri G K for your responses. > > Sri G K, > > My response to your points - just my opinion and you or others may differ. > > 1. Putting everything in S B is not advisable as SB accounts will give > low interest. > > My father had 3 FDs with SBI ( he split the total amount into 3 and > created 3 as in case of need we can break one). > He had it jointly with my sister and nominated my brother and sister in 2 > and 1 respectively as I was not in India. > > On his death, the bank gave my sister two options: > > 1. To continue the deposit with the same rates till maturity - To the best > of my recollection as I went to the bank with her. > > 2. Close them then and there and do whatever she wants thereafter. > Interest accrued will be as per old rates. > > Since the joint holder (either or survivor) was alive, the nominees didn't > matter. > My father had no Will, only what he orally told us. > > My sister retained one till maturity and closed the other 2 and gave the > proceeds to my brother as per my father's and my wishes. > > This was in Oct 2018. > > So I am not aware of the issue you have raised. I am in Chennai now and > will visit SBI and will write what they say regarding your points. It may > take a few days. > > One can split total amount into 3 or 4 FDs depending on the amount and can > even create FDs for different tenure. > > Nobody knows when will death come. Better keep roughly one years's > expenses in SB or even better, opt for quarterly, half yearly interest > credits on the FDs so one will always get Ithe interest credited to the SB > account every qtr or semi annually or even annually if one desires - to > take care of running expenses. > > Best course is to visit your branch > And discuss with them your concerns > And opt for the best option, based on your needs. > > I would do that (have done that) instead of relying on what we read or > hear. Nothing better than that, that comes from the horse's mouth - here > the your bank. > > N Sekar > Sent from Yahoo Mail on Android > <https://mail.onelink.me/107872968?pid=nativeplacement&c=Global_Acquisition_YMktg_315_Internal_EmailSignature&af_sub1=Acquisition&af_sub2=Global_YMktg&af_sub3=&af_sub4=100000604&af_sub5=EmailSignature__Static_> > > On Thu, Sep 28, 2023 at 11:56 AM, 'gopala krishnan' via iyer123 > <[email protected]> wrote: > Dear Mr Sekar, > > Why can't even educated persons aspire normal interest? One of my > colleagues invested a lot of money after retirement in a telecom co > operative society for slightly more interest. There may be many such. > Telecom department announced V R S, most opted and society became > bankrupt, those took V R S left with out paying society dues, address not > known. > > Invest half in F D in a nationalized bank and balance in savings deposit, > handy to have cash. > Recently I read difficulty in closing FD in nationalized banks in either > or survivor cases even after producing death certificate before maturity. > Very pathetic R B I guidelines, to close only on maturity date is possible. > > So Better have all savings in SB - Best choice. Those ailing may close all > FD before maturity. Let us have meager interest. But no difficulty. > > Gopalakrishnan > > > > On Thursday, 28 September, 2023 at 11:14:32 am IST, Narayanaswamy Sekar < > [email protected]> wrote: > > > > > > From OpIndia > > > > https://www.opindia.com/2023/09/kerala-ktdfc-unable-to-pay-ramakrishna-missions-fd-worth-130-crores-rbi-to-cancel-license/ > > > My comments: > > Be careful about where you invest, higher rates may, repeat, may carry > higher risk. > > Even R K Mutt is a victim here. > > It is not just Kerala but Most of the states are broke as they give > freebies to win elections but bankrupt the economy. > > N Sekar > > -- > You received this message because you are subscribed to the Google Groups > "iyer123" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/iyer123/1391268846.6773732.1695879713334%40mail.yahoo.com > <https://groups.google.com/d/msgid/iyer123/1391268846.6773732.1695879713334%40mail.yahoo.com?utm_medium=email&utm_source=footer> > . > > -- > You received this message because you are subscribed to the Google Groups > "Thatha_Patty" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/thatha_patty/CABC81ZeA95nfUh4RT2pSy4exmSTME6pJjdyhn8S5snCaAVjk5g%40mail.gmail.com > <https://groups.google.com/d/msgid/thatha_patty/CABC81ZeA95nfUh4RT2pSy4exmSTME6pJjdyhn8S5snCaAVjk5g%40mail.gmail.com?utm_medium=email&utm_source=footer> > . > > -- > You received this message because you are subscribed to the Google Groups > "iyer123" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/iyer123/1914257475.5007189.1695882397908%40mail.yahoo.com > <https://groups.google.com/d/msgid/iyer123/1914257475.5007189.1695882397908%40mail.yahoo.com?utm_medium=email&utm_source=footer> > . > > -- > You received this message because you are subscribed to the Google Groups > "iyer123" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/iyer123/172718574.6811606.1695893992676%40mail.yahoo.com > <https://groups.google.com/d/msgid/iyer123/172718574.6811606.1695893992676%40mail.yahoo.com?utm_medium=email&utm_source=footer> > . > > -- > You received this message because you are subscribed to the Google Groups > "Thatha_Patty" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/thatha_patty/CABC81ZeM58YQ5XivfH-PrNFgdoz8RiUjv7BgRLpU49oz7CtZMA%40mail.gmail.com > <https://groups.google.com/d/msgid/thatha_patty/CABC81ZeM58YQ5XivfH-PrNFgdoz8RiUjv7BgRLpU49oz7CtZMA%40mail.gmail.com?utm_medium=email&utm_source=footer> > . > > -- > You received this message because you are subscribed to the Google Groups > "iyer123" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/iyer123/305980227.938615.1695904465274%40mail.yahoo.com > <https://groups.google.com/d/msgid/iyer123/305980227.938615.1695904465274%40mail.yahoo.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. 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