This facility is however available only for individual account holders. Partnership firms, limited companies and trusts cannot file nominations for accounts held by them.

The account holder can change the nominee as many times as he wishes for his account. In order to make any modification regarding the nominee, the person has to fill form DA-3.

If the account holder wishes to cancel the nomination, he can do so by filing form DA-2. Nomination, modification and cancellation of nomination can be done as many tines as wished by the account holder.

A bank account can run without a nominee but it is advised that the account bear one nominee all the time to prevent hassles in case of sudden or untimely death of the account holder.

In case of a joint account, if one of the account holders dies before the nomination is filed the other account holder can file the nomination. However, the case is different for fixed deposits. Here, if the deposit is jointly held then all and not one account holder must file the nomination.

Also, the nomination in case of fixed deposit is only active till the time the deposit account is kept renewed.