Home Investment Master NRI Master Glossary Contact us

What does "Either or Survivor" means?

We come across the term "Either or survivor basis" while opening joint bank accounts. Banks generally have clauses under which a joint account will be operated.

Either of Survivor is the most common basis of opening a joint account. Many couples open a joint account under Either or Survivor Clause.

Either or Survivor basis :

It simply means that in a joint bank account both the holders can operate the account. In case of death of any one holder the other holder can continue with the account.


If a husband and wife open a joint account with Either or Survivor clause, any of them can operate the account freely. In case of death of any one, the other can continue to use & operate that account.

Some other relevant Links:

What is "Former or Survivor Clause"?

What are No balance Small Savings Bank Accounts??

Non Residen Indians - NRIs

NRE Accounts

NRO Accounts

FCNR Accounts

Who are close relatives??

content and images copyright, 2011-2020