How to add name of another person in a Bank FD.

Adding a joint holder in Bank FD.

                                           by Rajeev Pathak

My friend Ramesh opened a bank account when he was a bachelor . He also created a Fixed Deposit (FD) in his single name . Now he has got married and wants to add name of his spouse as Joint Holder. He is in dilemma whether to close old FD account and open a new account. Yesterday, he called me on my mobile and sought my guidance. In my view, there is no need to close present bank account / FD.  What he has to do to just visit his bank’s  branch where he maintains  this account along with his spouse. He should also carry a photograph, PAN card and Aadhar card of himself and his spouse, in original along with photo copies of the same. To add a name in a bank / FD account, most of the banks have printed standard forms .He should obtain the same from the bank officer, fill it, sign it and also  get it signed by his spouse in presence of bank officer. The form duly completed and signed along with above stated copies of documents are to be handed over to bank officer. Rest of the things will be done by bank. Bank will issue him an Acknowledgement of the request or a fresh print of FD, displaying both names.