IDBI Bank Annexure 2 – Form for nomination, cancellation & variation of nominations in respect of Safe Deposit Lockers Operated Solely or Survivorship
IDBI Bank Annexure 2 – Form for nomination, cancellation & variation of nominations in respect of Safe Deposit Lockers Operated Solely or Survivorship Download
The provided PDF document is Annexure-II of IDBI Bank, which functions as the Form for Nomination, Cancellation of Nomination, and Variation of Nomination explicitly for articles in safe custody and safe deposit lockers (ANNEXURE-I… p. 1).
1. Scope and Eligibility of Operation
The document has a strict operational restriction highlighted right at the top:
- Specific Account Modes: It applies only to lockers or safe custody articles hired “Solely” or “Jointly with a Survivorship Clause” (ANNEXURE-I… p. 1).
- Survivorship Variations: Eligible joint operation modes include “Either or Survivor”, “Former or Survivor”, and “Anyone or Survivor” (ANNEXURE-I… p. 1).
- Strict Exclusion: The form explicitly states it is “Not to be Used for Jointly Operated Lockers” where the signature of all hirers is required together for operation (ANNEXURE-I… p. 1).
2. Successive Nomination Rules
Unlike deposit accounts that allow simultaneous percentage splits, locker nomination functions strictly on priority:
- Consecutive Priority: Up to four nominees can be listed, but the nomination remains effective for only one individual at a time based on their order of appearance (First to Fourth Nominee) (ANNEXURE-I… pp. 1-2).
- Trigger Mechanism: A nominee lower down the list only becomes eligible to access the locker contents after the confirmed death of all prior nominees ranked higher than them (ANNEXURE-I… pp. 1-2).
3. Minor and Guardian Clauses
The form handles minors under strict legal validation rules:
- Guardian Mandate: If any listed nominee is a minor, Section 4 requires full details of an appointed adult guardian, including their address, contact info, and relationship to the minor (ANNEXURE-I… p. 2).
- Minor Hirers: If a safe custody article or locker is solely hired in the name of a minor, a legally entitled adult guardian must sign the execution fields on behalf of that minor (ANNEXURE-I… p. 2).
4. Overriding and Attestation Norms
The layout structures how modifications are processed and signed off:
- Automatic Cancellation: Signing Section 3 or 5 explicitly states that the new form acts in complete supersession of all past arrangements, immediately canceling previous locker nominations (ANNEXURE-I… p. 2).
- Illiterate Customer Attestation: If a locker hirer cannot read or write, they must provide a thumb impression (ANNEXURE-I… p. 2). This must be witnessed and signed by two independent physical witnesses providing their full addresses (ANNEXURE-I… p. 2).
Download PDF Click here
Read more
IDBI Bank Application form for Deletion of Accounts Grouped under Kutumb Family Banking Download
IDBI Bank Account Opening Form for Non Individuals from Download
IDBI Bank Fixed / Recurring Deposit Form ( for existing Customers ) Download
IDBI Bank Suvidha Tax Saving Fixed Deposit From Download
IDBI Bank Customer Relationship Form Royale From Download
IDBI Bank Customer Relationship Form Preferred from Download
for more refer IDBI Bank website Click here
for more refer YouTube Subscribe website click here