Legal Question in Banking Law in India
In nationalsavings scheme if there is no nomination, after death how to claim money from postal dept
Asked on 3/19/12, 12:29 pm
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
If the account balance is less than Rs.25000/- you can request the postal dept. to release the balance to the legal heir of the deceased account holder, by production of heirship certificate obtained from local Revenue authorities like Tahsildar and executing an indemnity bond. If it is more, you have to obtain a Succession certificate from a court in whose jurisdiction the deceased account holder permanently resided. You have to seek the help of a lawyer practising in that court. On obtention of the succession certificate and producing the same to the post office where the account is, you can get the money.
Answered on 3/19/12, 7:47 pm
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