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Claim settlement of deceased postal accounts by nominee

Are you a nominee for a postal savings or deposit account? Your parents or next-of-kin have passed away and you are wondering how to claim the money deposited in their names from the post office? Learn here the procedure to claim such deposits as a nominee.

Just like banks and other financial institutions, post offices provide for various kinds of investment opportunities. One can have a savings account, a MIS or monthly income scheme or a term deposit. Some of the popular term deposits offered by post offices are the KVP or Kisan Vikas Patra and the now defunct IVP or Indira Vikas Patra. The MIS and the term deposits have been hugely popular with the masses as they provide handsome returns on investment. The monthly income scheme is most popular among the retired classes. It provides for a regular income to people who don't have any other source of income. One good thing about these postal schemes is that there is a provision for enrolling a nominee who can later make claim to the funds after the depositors have passed away.

As long as one is alive there is no issue with such savings or term deposits in the post offices. They can be redeemed or renewed by the depositors themselves. But when the depositors aren't alive any more, then it is for the nominee to put up the claim to the post office where the account was held. In case of joint accounts, where there are two or more account holders, the nominee doesn't have a right to it as long as one of the depositors is alive. All rights to the funds in such cases will lay with the surviving depositors.

In the following lines we will discuss how a nominee has to proceed with the claims in case the depositors are no more. The procedure of making a claim in a post office is a bit trickier than that of making claims from banks. The article Claim settlement of deceased accounts guides nominees for making such claims from banks.

Things essential for making a claim

  • First and foremost, your name should be endorsed as a nominee for the deposit account you are laying a claim. In case no one has been nominated by the deceased depositors, it becomes all the more difficult for the claimant. There are however procedures for legal heirs to make a claim even if they have not been nominated. We would hopefully discuss about it in a future article.

  • You need to be in possession of the pass book or the certificates as the may case be for the concerned savings, MIS or term deposit account.

  • Death certificate(s) of the deceased depositor(s) issued by the concerned authority.

  • You should have a valid address and identity proof and should be in a position to produce the necessary documents whenever called for by the post office.

  • You would need two witnesses who can vouch for you. Their identity and address proof too are required.

  • Two copies of the concerned form issued by the postal department. The form can be either obtained from the post office or can be downloaded from the internet.

Procedure for filing the claim

  • Fill up both the forms. Provide the account details, name of the deceased depositor(s) and their date of death. Details of the witnesses are to be put too. Their names, addresses and signatures are to be obtained. Your name, address and signature as claimant is to be there too.

  • Get copies for identity and address proof for yours as well as for the witnesses. The copies to be self-attested. Copy of the death certificate too be attached along with.

  • In case of KVPs and term deposits, attach true copies of the term deposit certificates. Keep the original certificates with you. For savings and MIS accounts, post offices generally ask you to submit the passbooks along with the application. In such cases, keep a scanned copy of those passbooks.

  • Once the documents are all consolidated, submit them to the concerned post office. Ask them to provide a receipt for the submission.

  • Once done with the submission, wait for a week or may be more. The post office will send you a mail, mostly registered, at your mailing address confirming that your claim is ready. You will then have to contact them along with the letter received by you. The letter sent by the post office is an important one, as it ensures that the correct person gets the claim and the address you have provided is not a fictitious one. The post office refuses to pay where the claimant is not able to produce the said letter.

  • Once the formalities are all taken care of, the post office asks you to sign at the required places. Submit the original certificates and take possession of the cheque or cash that the post office provides you with.

For the benefit of our readers, I am attaching the format of the documents that are to be used for submitting the claims. The first one is to lay claim to savings and MIS accounts and the other one for claiming term deposits like KVPs. There are minor differences in the 2 formats. The details of the witnesses are to be put at the bottom of the forms. The formats can be also had at India Post Forms. You may even type them as per the given format.

In a nutshell – The key points

  • Get 2 copies of the claim form and fill necessary details

  • Copy of your savings passbook or term deposit certificate.

  • Copies of death certificates of the deceased depositors

  • Get 2 witnesses to sign on the forms. Ask for self-attested copies of their identity and residential proof documents.

  • Attach self-attested copies of your residential and identity proof.

  • Pin all the above together and submit the claim.

As per my experience, some post offices insist on seeing the original documents of the witnesses too. Getting the originals of the witnesses becomes cumbersome, as the witnesses may not be too comfortable parting with their essential documents. Sometimes, it may also happen that there are 2 nominees for an account. In such cases both the nominees have to sign on the form and submit their identity and address proof. The final claim will be in the name of both the nominees and will be divided equally between them. In case the nominee is a minor, then the guardian appointed for the nominee has to put up the claim.

These days, because of core banking, post offices around the country are getting connected with each other. There are possibilities that instead of issuing in cash or cheque, the claim amount will get directly credit to your postal savings account, wherever it may be located.

Hope this article is of some usefulness to those seeking claim settlement of deceased accounts in post offices.

Article by Dhruv
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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Guest Author: Satish13 Nov 2017

What is the procedure if the nominees are NRI? We have followed the procedure mentioned above, but the claim is rejected as we have to give Power of attorney. Please guide on what is to be done.

Guest Author: sumit agarwal18 Nov 2017

I have some nsc in my father's name who expires after 6 month from the date of opening the nsc .I want to know whether there is any interest applicable if I close them before or after 1yrs along with the initial.nominee is my mother and can I continue those nsc for its maturity period.please help me I am not getting the right answer.

Guest Author: Krish Gan28 Dec 2017

What is the procedure for claim, if the Nominee had expired before the KVP holder's death?
Also, what is the procedure for claiming KVP & NSC, if the name of the nominee is unknown and the holder has expired?

Guest Author: sumit agarwal28 Dec 2017

I had posted a comment on 18 Nov but have not yet got any reply. So please reply me about the interest as mentioned in my comment.

Guest Author: Nandini Sengupta29 Dec 2017

My aunt who was in possession of an MIS certificate with effect from June 2015, could draw her monthly interest payment only for three months as she expired on 12/9/2015. Myself was the registered nominee with the PO as she was a spinster. I submitted my claim application only in the first week of this month as per PO rules and regulations and was accepted by the authority. My question is, apart from the principal amount what will be the unclaimed monthly interest of 27 months?

Guest Author: Dr.Arun Rathee09 Jul 2018

Post office official said that I can apply for my father's FD after 3 months of death only. My father expired on the 8th of June 2018 and they say that I can claim only after 8th September 2018. Is that true?

Guest Author: Pawan Shaw04 Mar 2019

My mother had KVP but she died and the nominee was my Father but he also died. My Father had a second marriage and I have all the documents regarding the KVP. Will I get the amount?

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