In India, financial inclusion has increased to a great extent in the last few years. Under the 'Jan Dhan Yojana' alone, 44.58 crore accounts have been opened. This shows the growing reach of banking in India. From cities to rural areas, people now prefer to keep their savings in the account instead of keeping them in cash. However, even now, very few people know about who will receive the money deposited in his account if an account holder dies, unfortunately.

Do you know what the rules say?
The rule is very clear as to who will receive the amount deposited in the account of an account holder when a person dies. When you open an account in a bank, you give the details of your nominee and the bank enters the nominee's details in your files. In such a situation, when the depositor's life is lost, the deposit in their account is naturally received by the nominee. 

In this case, the successor gets the money:-
In the absence of a nominee, the amount deposited in the bank account is received by the legal heir or heir of the depositor. In this case, the person who claims the amount deposited in the account has to give the will of the account holder to the bank. In the absence of a will, the family members have to give a succession certificate. It is a special document with the help of which the heir of the deceased person is identified. It's a very complex and lengthy legal process. It takes a lot of time to claim money through it. This rule is also very simple. Under this, in the event of the death of one of the joint account holders, the other acquires full ownership of the account and can withdraw the amount deposited in the account. 

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