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Can I used Fixed deposit jointly held with parents as POF? I am the primary account holder.

easyrider13

Star Member
Oct 26, 2017
74
22
Hey guys, Can I use Fixed deposit jointly held with parents as POF? I am the primary account holder and my parents as joint account holders. If yes, do I need to get just the bank letter or a notarized document too stating that they are allowing me to used the funds?
 

mr.preetsingh

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Oct 26, 2017
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Hey guys, Can I use Fixed deposit jointly held with parents as POF? I am the primary account holder and my parents as joint account holders. If yes, do I need to get just the bank letter or a notarized document too stating that they are allowing me to used the funds?
You can not use FD with parents.
 

easyrider13

Star Member
Oct 26, 2017
74
22
You can not use FD with parents.
Oh. Thanks for the reply. What if I'm the primary holder and if they issue a notarized declaration or NOC that the funds can be accessed by me? Also, could you please tell me the source of your information because I can't seem to find any information about it online. Thanks.