How to Add Joint Holder in Account?: You can open a bank savings account as single or as joint i.e. with other persons. A joint account is an account which is held in the name of more than one person. There can be a maximum number of 3 holders in an account.
Any person who is an account holder in a joint account can operate the account and make transactions in that account. Joint accounts can be held in following modes of holding:
Joint accounts are usually opened by close relatives like with spouse or children or are suited to those who are working towards a similar financial goal together like business partners. All the operations of a joint account are performed in the same manner as those in an account operated singly.
An important factor in opening of a joint account is the trust that you have on all the account holders of a joint account.
You can choose the joint account option in any of the following situations:
Now, if you want to know as to how to add Joint Holder in Account? Then you need to follow below mentioned procedure:
In order to open your account in joint names, the first step is to fill up an Account Opening Form. You can download it from bank's website or alternatively, you can visit the branch of where you want to open your account in joint names, get the account opening form and fill it up properly.
You need to mention the names of all the account holders (maximum 3). You can select anyone of the following modes of holding:
After that all the account holders need to sign the form before submitting it to the branch manager/ officer-in-charge.
(2) Attach KYC (Know Your Customer) Documents of all the Account HoldersAll the holders of the account need to attach a copy of KYC documents i.e. a copy of PAN, which also serves as your proof of identity and a proof of address to the account opening form. The account holders may also be asked to self attest these documents.
(3) Submit Account Opening Form to the Banker ofYou need to submit account opening form to the banker along with all the necessary attachments.
(4) Verification of Account Opening Form (AOF) & Other Documents by the BankerBanker will verify Account Opening Form (AOF) and other attached documents. If he is satisfied with these requirements, he will proceed further.
Once your documents are successfully verified, the banker will give you acknowledgement slip of Account Opening Form.
In order to add joint holders your account, the first step is to submit a Request Letter to for Addition of Joint Holder/s by mentioning following things:
Obtain and fill up an fresh Account Opening Form with joint holder/s. You need to mention the details of all the joint holders such as name, address, mode of holding, etc.
You are also required to mention the account number of your existing account in which you want to add joint holders.
After that all the account holders need to sign on the space provided in the form before submitting it to the branch manager/ officer-in-charge.
(3) Attach KYC (Know Your Customer) Documents of all the Account HoldersAll the holders of the account need to attach a copy of KYC documents i.e. a copy of PAN, which also serves as your proof of identity and a proof of address to the account opening form. The account holders may also be asked to self attest these documents.
(4) Submit Account Opening Form to the Banker ofYou need to submit account opening form along with the request letter (to add joint holders to your account) to the banker along with all the necessary attachments.
Banker will verify Account Opening Form (AOF) and other attached documents. If he is satisfied with these requirements, he will proceed further.
(6) Obtain acknowledgement slip of Account Opening Form fromOnce your documents are successfully verified, the banker will give you acknowledgement slip of Account Opening Form.