A deceased account Of all things in life, one thing is most certain and that is death. It is a universal truth and part & parcel of our life that we have to come across situations when we lose our parents or other near and dear ones. So what should we do when we are the nominee and both our parents who are the joint account holders are all deceased? The facility of nomination makes it relatively easy for the nominee to claim the deposits from the bank in such cases. Without the nomination, it would be a herculean task to draw the money. So having a nomination in a deceased account is half the battle won.
On approaching the bank, the bank will provide with a nominee claim form. The form is to be filled up by the nominee, duly signed. Most banks also require one or two witnesses to sign the form with their complete address details. The witnesses have to be account holders of the bank or they should be holding some position of authority and should be well known in the society. Some of the banks may also require you to submit an affidavit on a stamp paper certifying that you are the legal heir of your parents. Other than these, as a nominee you will have to submit the copies of ID and address proof of both the witnesses and the nominee. Along with all these documents you have to submit the bank passbook too. The whole procedure may take some days or a few weeks. It is only after certifying your credentials that the bank will settle your claim. In most cases the bank issues with a cheque for the due amount on the name of the nominee.
Now find here the sample letter that will help you in drafting your own application to the bank regarding settlement of a deceased account.
Sample Letter to bank for the claim settlement of a deceased account
1239 E, Malakpet
05 December 2016
The Branch Manager
State Bank of India
Sub: Request for claim settlement of a deceased account
With profound grief, I want to intimate that both my parents, who were account holders of a savings account in your bank, now cease to exist. For your reference and necessary action, I am attaching the death certificate of both my parents along with this application form and other necessary documents.
My parents in their lifetime had nominated me as the sole nominee of their joint savings account. I thus request you to please close the account and settle the proceeds of the account in my name. In this respect I have filled up the nominee claim form in its entirety. I have also taken the signatures of two persons as witnesses who are known to me and are account holders of this branch. The ID and address proof of both the witnesses are attached along with this application.
I have further attached an affidavit certifying that I am the legal heir of my parents. Copies of my ID and address proof are also attached along with this application for your kind consideration and necessary action.
Names of account holders:
Savings bank account number: **********532
Endnote Even though relatively easy, it is not a very easy process to settle the claim of a deceased account. It will require much hardwork on your part. The bank will pay you the money only when it is fully satisfied with your credentials. That's why the banks ask for witnesses who are well known or holding bank accounts in the same branch.
Dhruv is an electrical engineer by profession. Apart from liking his job, he has a special love for writing and has often dabbled in writing scripts for skits and short plays. As a Content Developer at ISC, Dhruv is having a whale of a time, showcasing his writing skills.
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