Legal Question in Banking Law in India
if account holder dies how the nominee gets money?what documents should be submitted to sbi bank.
6 Answers from Attorneys
you just need to submit an affidavit and your identity papers.
approach the bank for requirements.
I agree with the above opinion.
I am sorry to differ with all my friends. Each bank has its own format keeping in view the RBI guidelines. You will need to give an affidavit of legal heirs, NOC of legal heirs in favour of beneficiary legal heir - if all want to be beneciary then such a NOC may not be required, Finally an Indemnity Bond of the beneficiary indemnifying the bank in case of claim by any one else.
first document is the term deposit receipt or pass book. Identification of nominee such as voter identity card, ration card etc.
Appraoch the bank to know the same.
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