Multiple choice

In which of the following accounts, nomination of more than one person is accepted?

  1. Savings bank account

  2. Fixed deposit account

  3. Safe deposit locker

  4. Loan accounts
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C Correct answer
Explanation

Safe deposit lockers allow nomination of more than one person as the locker contents may include items that need to pass to multiple beneficiaries. In contrast, savings accounts, fixed deposits, and loan accounts typically allow only one nominee to ensure clear succession and avoid disputes.

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