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Former or Survivor
When joint account holders give former or survivor mandate to the bank for their term deposit, only the person declared as 'former' can withdraw the maturity amount when both depositors are alive. If the 'former' expires before maturity of the deposit then survivor will be paid. If however deposit is to be paid before maturity then signature of both account holders is required if both parties are alive otherwise of the survivor and legal heirs of the deceased.