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Query Details

Asked by jyoti on :Aug. 03, 2015

What is difference between beneficiery & nominee …

What is difference between beneficiery & nominee in case of saving bank account?

What is difference between beneficiery & nominee in case of saving bank account?

0

Chiranjibi Aug. 27, 2018

A beneficiary is any person who gains an advantage and/or profits from something. In the financial world, a beneficiary typically refers to someone who is eligible to receive distributions from a trust, will or life insurance policy.

Nominee, on the other hand is a person to whom the account holder's assets would be transferred upon his death.

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