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advantages-and-disadvantages-of-joint-bank-accounts
Joint investment is good idea for those couples who want flexibility in their savings. By Join Account is easy to operate, and in some cases get better tax benefits. If someone person passed away, than other joint holders got full benefits and easy to access and operate the account. First holder is considered the primary holder of the investment such as interest and dividends Benefits comes in the name of the first holder. Investment related information is given to the first holder. Now we will talk about where we can open the Join Account and what are the Benefits of Opening Account and What are the Documentations Formalities Needs.

Bank Account Joint Account:While opening joint bank account you have filled the KYC form and choose Joint Account and given the both photos, documents and signatures, after that got full benefits both account holders. If anyone have already account they can also add second holder. To open an account to submit the KYC documents and will have to complete the formality.
Join Loan: A loan is taken by jointly it is the responsibility of both; the credit score affects the both persons. Joint holder can take tax benefits of principal loan and interest that one has paid by them.
 
Portfolio Join Account Investment: Mutual funds Investments demat accounts, bonds and savings schemes can be obtained from the joint names. If anytime wants change any of these, than folios will be signed by all.
 
What kinds of Assets Can be Open Jointly Account:Property, houses or gold can be taken by jointly. They must be registered in the name of both. If asset is Gold than to make joint holding valid, than document should be registered.
 
Focus on these things: Minor accounts can be opened in single name. Minor joint holding of mutual funds or accounts cannot be frozen. If NRI becomes one of the joint holders, according to the instructions of the RBI in the foreign currency investment rules will apply. If the investment in foreign currency it may be not allow to join holding account. After First Holder death, Second Holder's death certificate and give to authorized and that one will be primary Account Holder.
 
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