Legal Question in Banking Law in India

The deceased person has a FD without any nomination but the bank account to which the FD is connected does have a nomination attached to it. What is the procedure regarding th claim against such FD


Asked on 2/26/17, 12:56 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

26/02/2017

Dear Sir / Madam,

If the deceased has left behind a Will stating and naming the beneficiary of the Fixed Deposit (FD) therein, a self attested copy of the Will by the executor of the Will by showing the original signed Will to the submitted to the Bank lodging the claim, In the absence of the Will, if the deceased has passed away intestate, the No Objection Letter of all the legal heirs to the beneficiary decided by them, is sufficient for the Bank to reply upon and settle the FD proceeds to the named beneficiary.

Regards,

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Answered on 2/26/17, 3:07 am


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