In India, financial institutions and government schemes such as Post Office Savings Schemes or banks, have proper procedures to settle claims of a deceased account or certificate holder. These claims can be processed through nomination, legal evidence, or specific documentation for cases without nomination, depending on the situation.
Understanding the claim process
When an account or certificate holder passes away, their funds can be claimed by a nominee, legal heir, or other entitled individuals. The process varies based on whether a nomination was made, the value of the deposit, and the availability of legal documents.
The three main ways to settle a claim are:
Nomination: The simplest and fastest method, where the nominee submits a claim with minimal documentation.
Legal Evidence: Required when there’s a will, succession certificate, or letter of administration.
Without nomination (Up to Rs 5 lakh): For cases without a nominee, specific affidavits and indemnity documents are needed, with a six-month waiting period.
Without Nomination (Above Rs 5 lakh): For claim settlement without a nominee, a succession certificate is mandatory.Post office vs bank FD: Highest 3-year interest rate on fixed deposit for Rs 5 lakh investment in 2025
When and how to choose a nominee
Nomination can be made at the time of opening an account or certificate or at any point during its tenure. To add or change a nominee, the accountholder submits a nomination form available at the Post Office with details like the nominee’s name, relationship, address, and, for minors, the guardian’s details.
What is the claim process if there is a nomination?
Get a nomination claim from the post office, or their website (e.g., Form SB-84 for Post Office Savings Schemes).
An original death certificate or attested copy issued by the municipal corporation or registrar of deaths should be submitted. KYC documents such as nominee Aadhaar, PAN, address proof, and a recent photograph.
Visit the post office where the account is held. Submit the completed claim form and documents. The post office verifies the nomination details and identity.
What is the claim process through legal evidence?
If the deceased has left behind a will, or if legal documents such as a probate of will, letter of administration, or succession certificate are available, the claim can be processed based on these.
To initiate the claim, submit the claim form, original or attested copy of the death certificate, and the following documents:
Legal Proof
Probate of Will
Letter of Administration
Succession Certificate
KYC documents of the claimant(s)
The claim should be submitted at the respective post office. Once verified, the funds will be released to the legal heirs or executor, as directed by the submitted legal documents.
How to claim without nomination (up to Rs 5 Lakh)?
To initiate a claim in the absence of a nomination (for amounts up to Rs 5 lakh), the following documents must be submitted to the post office after a six-month waiting period from the date of the depositor’s death:
Claim Form and original or attested copy of the Death Certificate
Annexure-I (Letter of Indemnity)
Annexure-II (Affidavit):
Annexure-III (Letter of Disclaimer on Affidavit)
KYC documents of the claimant
Once all these documents are submitted and verified, the post office can proceed with settling the claim.
How to claim without nomination (above Rs 5 Lakh)
If there’s no nomination and the deposit value exceeds Rs 5 lakh, a succession certificate is mandatory. This is a court-issued document that identifies the legal heirs and their respective shares.
To claim deposits in the absence of a nomination or will, you can approach a civil court to apply for a succession certificate. This requires submitting the death certificate, details of the deposit, and proof of your relationship with the deceased. Once the court issues the succession certificate, submit it along with the claim form, original or attested copy of the death certificate, and KYC documents to the post office. These documents will be used to verify the claim and release the funds.
