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Deceased Accounts |
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Q.
In case of nomination in my favour in a deceased depositor's
account do I still need to complete/ produce various documents
before receiving the funds?
A. The payment in such case is made to the nominee on the basis
of claim form without production of documents like a Succession
Certificate, Indemnities, etc. Identify of the nominee is
however, to be established to the satisfaction of the Bank. |
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Q.
Is there any easy way of getting payment other than by way of
Succession Certificate?
A. Yes, if the account holder has died intestate i.e. without
leaving a Will and he has also left no other property requiring
obtention of Succession Certificate, the payment of balances
lying with the Bank can be made on completion of simple
formalities.
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Q. What are these
formalities ?
A. You are required to produce the following documents -
a) A copy of Death Certificate alongwith original (The original will be returned
after verification).
b) Stamped affidavits duly sworn in by two independent and respectable persons
well known to the Bank and to deceased person's family but unconnected to it.
c) Stamped letter of indemnity duly sworn in by the claimant alongwith 2
sureties, each good for the amount involved.
d) Letter of disclaimer duly signed by all the legal heirs of the deceased other
than the claimant. |
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Q. What is the value
of stamps required to be affixed on the above documents?
A. This differs from State to State, depending upon the duty payable as per
rules laid down by the States. You may ascertain the relevant stamp duty from
the branch where the account is maintained. In the State of Rajasthan affidavit
attracts stamp duty of Rs.10/-, while indemnity is to be stamped for Rs.100/-
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Q. Does Bank pays
interest during the period after death of the depositor and claim by the
nominee/ legal heirs?
A. Yes, on applicable / agreed rates. In case of current deposit account held as
proprietor/ individuals, the bank will pay interest at Savings Bank rate,
However for joint accounts, partnership or HUF accounts, no interest is payable
in CD account. |
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