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Either or Survivor

In a joint term deposit the account holders can instruct maturity repayment to be in either or survivor mode. If one of the account holders expires before maturity the surviving account holder will get final amount on maturity. If however deposit is to be paid before maturity then signature of both account holders is required if both parties are alive. If one of them expires then signature of the survivor and legal heirs of the deceased is needed for withdrawing term deposit prematurely.

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