SETTLEMENT OF CLAIMS WITHOUT LEGAL REPRESENTATION IN RESPECT OF BALANCES HELD IN THE ACCOUNT(S) OF DECEASED CONSTITUENTS

With a view to simplify the procedure relating to disposal of balances held in deceased constituent’s accounts without production of legal representation, we mention underneath the documents required to be submitted by the Claimant(s):-

1.) If the amount claimed ( i.e Total balance + Interest) is upto Rs 5.00 lakhs:-

a) Photocopy of the Death Certificate (Original shall be verified by the Bank)

b) KYC details of all the legal heir(s).

c) Account details of the Claimant(s) (If available)

d) Revised Claim Form duly filled and signed by the Claimant(s).

e) The Declaration in the Revised Claim form regarding the legal heirs of the deceased is to be signed by-

  • i) One Independent person well known to the family of the deceased but unconnected with it and acceptable to the Bank OR
  • ii) By any account holder (KYC complied) of the Bank known to the family of the deceased but unconnected with it OR
  • iii) By any Govt. Official whose signature is verifiable by the Bank.

f) Stamped Letter of Indemnity (COS 540) from the Claimant(s).

g) Letter of Disclaimer (if applicable)


2.) If the amount claimed (i.e Total balance + Interest) exceeds Rs 5.00 lakhs:-

a) Photocopy of the Death Certificate (Original shall be verified by the Bank)

b) KYC details of all the legal heir(s).

c) Account details of the Claimant(s) (If available)

d) Revised Claim Form duly filled and signed by the Claimant(s).

e) Declaration in the Revised Claim Form regarding the legal heirs of the deceased has to be sworn as an Affidavit before the Judicial Magistrate or Notary Public as per the format enclosed (COS-539, Annexure-B) from: -

  • i) One Independent person well known to the family of the deceased but unconnected with it and acceptable to the Bank OR
  • ii) By any account holder (KYC complied) of the Bank known to the family of the deceased but unconnected with it OR
  • iii) By any Govt. Official whose signature is verifiable by the Bank.

f) Stamped Letter of Indemnity (COS 540) from the Claimant(s) plus one Surety good for the amount or two Sureties jointly good for the amount. Any legal heir(s) who has signed the Letter of Disclaimer in favour of other legal heir(s) may stand as surety if he/she is independently good for the amount of claim.

g) Details of Sureties (with proof) for compilation of the Opinion Report on Sureties (As per Annexure-I)

h) Letter of Disclaimer (If Applicable)