What does "Either or Survivor" means?
come across the
term "Either or survivor basis" while opening joint bank accounts.
Banks generally have clauses under which a joint account will be
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 :
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
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.
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