‘Either-or-survivor’ clause lets the surviving joint account holder withdraw Fixed Deposit (FD) funds, but this does not make him or her the legal owner

Joint bank Fixed Deposit accounts often have an 'either or survivor' clause. This allows the surviving holder to access funds after the other's death. However, this access does not grant legal ownership. Ownership is determined by succession laws and Wills, not just the operational mandate. This differs from bank lockers where ownership is even less clear.