Indian Bank Deceased Claim Settlement form Download

Indian Bank Deceased Claim Settlement

Based on the provided document, here are the key highlights and core parameters of the Indian Bank Deceased Claim Settlement Policy and Guidelines:

Portal Scope: The online Death Claim Settlement Portal is strictly for lodging claims related to Deposit Accounts (with or without nomination) (Applicatio… p. 1).
Manual Claims: Claims for Safe Deposit Lockers, articles in safe custody, release of title deeds, or jewels from closed loan accounts must be submitted manually at a branch (Applicatio… p. 1).
Submission flexibility: Claimants can submit documents online from anywhere or visit any Indian Bank branch physically (Applicatio… p. 1).
Online Status Tracking: Digital submissions generate a unique Reference Number for electronic tracking, accompanied by automated text confirmation (Applicatio… p. 1).

Deposit Accounts: The bank must settle deposit claims within 15 calendar days from the receipt of all required, correct documents (Applicatio… p. 1).
Lockers & Safe Custody: The bank has 15 calendar days from complete documentation to process the claim and contact the claimant to schedule physical inventory retrieval (Applicatio… p. 1).

Under ₹15 Lakhs: Requires a basic Claim Form (Annex B), Death Certificate, Claimant ID (OVD), Bond of Indemnity, Letter of Disclaimer, and a local Legal Heirship certificate or family declaration (Applicatio… p. 4). Third-party surety is not required (Applicatio… p. 4).
Over ₹15 Lakhs: Requires a formal Succession Certificate or all standard documents combined with a third-party Bond of Surety (from individuals acceptable to the bank) (Applicatio… p. 4). The family declaration must be sworn as a formal Affidavit before a Notary, Judge, or Magistrate (Applicatio… pp. 4, 16).

Inventory Delegation: Access is granted to the verified nominee, survivor, or court-appointed representative by utilizing the key or breaking open the lock under instruction (Applicatio… p. 5).
Mandatory Witnesses: Inventory must be physically logged in front of two independent witnesses who are strictly not employees or ex-employees of Indian Bank (Applicatio… p. 1).
Bank Presence: The Safe Deposit Vault Custodian and a separate bank employee who is unconnected to locker operations must be present (Applicatio… p. 1).
Valuation Requirements: An independent valuer must evaluate the contents and record it in a stamped Bond of Indemnity (Applicatio… pp. 1, 22). Legal documents like a Probated Will waive this indemnity bond (Applicatio… p. 1).

Standard Rule: Nominees or legal heirs must obtain a civil death declaration court order under the Bharatiya Sakshya Adhiniyam, 2023 to stand in place of a standard death certificate (Applicatio… p. 5).
Hardship Waiver (Under ₹1 Lakh): For aggregate balances below ₹1 Lakh, the bank waives the court order requirement. Claimants can instead settle using just a police First Information Report (FIR) and an official Non-Traceable Report (Applicatio… p. 5).