PAYMENT OF BALANCE IN ACCOUNTS OF THE DECEASED CUSTOMERS

TO SURVIVORS/ CLAIMANTS


The bank may not insist on succession certificate from legal heirs irrespective of
amount involved if there are no disputes among survivors and all legal heirs join in
indemnifying the bank. However, the bank may adopt such safeguards in
considering settlement of claims where the Bank has reasonable doubts about the
genuineness of the claimant(s) being the only legal heir(s) of the deceased
depositor.

The procedures/documentation for settlement of claims has been considerably
simplified if there are no disputes among legal heirs:

1. Claims for Aggregate Balances up to Rs 50,000/ - will be settled on
furnishing:

a) Declaration on the claim format signed by the claimants together with one
independent person known to the family of the deceased and acceptable to bank.

b) A stamped Letter of Indemnity from all claimants (other than those who have
furnished the stamped letter of disclaimer).

(No sureties are required for claims up to Rs 50,000/-)

2. Claims for Aggregate Balances above Rs 50,000/ - up to Rs. 1 Lakh

a) Declaration from one independent respectable person unconnected but well
known to the deceased family and acceptable to bank.
b) One surety good for the amount. If one surety is not considered good for the
amount another surety may be obtained (both jointly good for the amount).

c) Stamped Letter of Indemnity from all claimants (other than those who have
furnished the stamped letter of disclaimer).

d) "Claim Form" to be signed by all claimants( other than those who have furnished
the stamped Letter of Disclaimer)

e) Affidavit (stamped) from one Independent respectable unconnected but well
known to the deceased family and acceptable to bank.

f) One surety good for the amount. If one surety is not considered good for the
amount, another surety may be obtained (both jointly good for the amount).
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g) Stamped Letter of Indemnity from all claimants (other than those who have
furnished the stamped letter of disclaimer).
In all the cases Bank will satisfy itself by making enquiries that there are no other
claimants to the assets of the deceased and also that constituent died intestate and
there are no disputes among the claimants and all claimants sign the Letter of
Indemnity.


When Nomination is registered with the Bank:

The Nominee should apply to the Bank in the prescribed format, furnishing full and
correct details of the account of the deceased depositor,. The Claim will be settled
after completing the necessary formalities.






























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APPLICATION FORMS FOR CLAIMING BALANCES OF DECEASED
ACCOUNT HOLDERS



CONTENTS PAGE NOS.
Application form for claim-with
Nomination
4 & 5
Application form for claim-J oint
Account with survivor clause
6 & 7
Application form for claim other
than nomination/ J oint account
with survivor clause
8 to 11
Letter of Indemnity 12 & 13
Receipt 14






















3





Application for Deceased claim
(To be used when account has nomination)

From

.
.
.
.
To

The Branch Manager,
State Bank of Mysore,
....Branch.

Dear Sir,

Re: Deceased Account
Late Shri/ Smt..
Account No(s)..

I/We advise the demise of Shri/Smt. on
He/She holds the above account(s) at your Branch in the name
of ..



4


I, ...son/daughter of
Shri..residing at
..am

i. The registered nominee in the above accounts(s).
ii. The person authorised to receive payment on behalf of
Master/Miss. Who is the nominee in the
above account(s) and is a minor as on the date of this claim.

Please settle the balance in the account in the name of the nominee. I receive
the payment as trustee(s) of the legal heirs of the deceased.


Death Certificate issued by .
Identity proof (required in nomination cases)



Place: Yours faithfully,


Date:
(Claimant/s)










5


Application for Deceased claim
(To be used when account is a joint account with survivor clause)

From

.
.
.
.
To

The Branch Manager,
State Bank of Mysore,
....Branch.


Dear Sir,

Re: Deceased Account
Late Shri/ Smt..
Account No(s)..


I/We advise the demise of Shri/Smt. on
He/She holds the above account(s) at your Branch in the name
of ..



6


I/We request you to delete the name of the deceased person and continue the
account in my/our name(s) with same mode of operations.

I/We submit photocopy of the following documents (s) together with originals.
Please return the original to us after verification.


Death Certificate issued by .
Identity proof (required in nomination cases)



Place: Yours faithfully,


Date:
(Claimant/s)



















7

Application for Deceased claim
(To be used for cases other than nomination/ joint account with
survivor clause)

From

.
.
.
.
To

The Branch Manager,
State Bank of Mysore,
....Branch.

Dear Sir,

Re: Deceased Account
Late Shri/ Smt..
Account No(s)..

I/We advise the demise of Shri/Smt. on
He/She holds the above account(s) at your Branch. The account
is in the name(s) of ..

I/We lodge my/our claim for the balances with accrued interest lying to the
credit of the above named deceased who died in testate. I/We am/are the legal
heirs of the above named deceased and lodge my/our claim for payment as per
8
the banks rules and discretion. The relevant information about the deceased
and the legal heirs are as under.

1. Names in full of the parents of the deceased:
Father :
Mother:

2. Religion of the deceased:

3. Details of living (i) Husband (ii) Wife (iii) Children (iv) Father (v) Mother
(vi) Brothers (vii) Sisters (viii) Grand Children. If Hindu J oint Family, the
name and address of the Karta and Co-parceners with their respective ages.


Full Name/ Address Occupation Relationship with Age
Deceased

i. ..
ii. .. .. ..
iii. .. ..
iv. .. .. .. ..
v. .. .. .. .
vi. .. .. ..

4. Name or Names of the Guardian/s
of the Minor Children of the
Depositor

a) Whether Natural Guardian
b) Whether Guardian appointed by
a Court of Law in India. If so,
attach a certified copy or duly
attested copy of such Order. ..
9
c) In whose custody the Minor/
Minors is/are? .

5. Claimant/s name/s and address
In full

i. .
ii. .
iii. .

I/We submit the following documents. Please return the original death
certificate to us after verification.

1. Death Certificate (Original + 1 photocopy) issued by
:..

2. Letter of Indemnity


We request you to pay the balance amount lying to the credit of the above
named deceased to on my/our behalf.









10



I/We hereby solemnly affirm that the above statements are true and correct to
the best of my/our knowledge and belief.

Place: Yours faithfully,

Date: Signature of Claimant(s)

Name of Claimant Address Signature

(i).. ...
.
..
..


(ii). .

.
..













11



Indemnity format (To be duly stamped as per the Stamp
Act applicable to the State)

Letter of Indemnity with Respect to Payment of Balance in the
Deceased constituents Account without production of legal
representation

To

The Branch Manager,
.. Bank.

IN CONSIDERATION of your paying or agreeing to pay me/ us.

Insert here the 1)
Name(s) 2)..
Claimants 3)
4)..

The sum of Rupees
standing at the credit of Savings Bank/Current/R.D. Account No. etc..
with your Bank in the name of Shri/Smt/Kum...
since deceased, without production of Letters of Administration or a succession
Certificate to his/her estate or a Certificate from the Controller of Estate Duty to
the effect that estate duty has been paid or will be paid or none is due. I/We do
hereby for myself/ourselves and my/our heirs, legal representatives executors
and administrators, jointly and severally UNDERTAKE AND AGREE TO
indemnify you and your successors and assign against all claims, demands,
proceedings, losses, damages, charges and expenses which may be raised
12
against or incurred by you by reasons or in consequence of your having agreed
to pay/or paying me/us the said sum as aforesaid.







SIGNED AND DELIVERED

By the above named on this .
Day of ..two thousand..
..






SIGNED AND DELIVERED BY

The above named
1..23
4..56..

(heirs/claimants of the deceased)







13

RECEIPT

Received with thanks fromBank,
Branch, a sum of Rs. (Rupees
Only) by Bankers Cheque No. ..dated in favour
of..in full and final settlement of
my/our claim as successor on the balance in .Account(s)
No(s).standing in the name of the deceased
Shri/Smt/Kum. I/We do not
have any other claim from the Bank henceforth.

Place:
Date:


(Signature of all the legal heirs over
a revenue stamp)


Declaration in case funds are settled in favour of a Minor

I,. Father and natural guardian of .
hereby certify that the proceeds of your Bankers Cheque No. ...
Dated favouring .issued by you in
settlement of the balance in account number ..of Late .
.will be utilized for the benefit of the minor
only.



14

























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