How to Make Claim for the Deceased Post Office Saving Account Holder

Post Office Small Savings Scheme (SSC) account or certificate holders can be readily resolved. The official website outlines specific procedures that must be followed in order to resolve claims in the terrible event that the account user passes away. Here, in this article you will learn how to do this.

What is post office saving account

• An initial deposit of Rs 500 is required in post office savings account.
• Domestic customers can open accounts in either single or joint ownership.
• Deposits in the post office account earn an annual interest rate of 4%.
• On request, you can get a cheque book, an ATM card, e-banking and mobile banking services, and other services with the account. At the end of each fiscal year, interest is credited.
• Individuals can deduct up to Rs 10,000 from their total income under Income Tax Act Section 80TTA.

In case of Nomination:

A nomination claim form, a death certificate, and the Know Your Customer (KYC) documentation must be submitted in order to settle a claim.
According to the Post Office website, while filing a claim, legal proof must be provided. The claimant must provide proof of probate of the will, a letter of administration, or a Succession Certificate. The High Court issues a copy of the will together with a probate of it along with the court seal. Along with the KYC credentials, the person claiming a claim must also submit the claim form, legal documentation, and the account holder's death certificate.

In case of no nomination

The claim form, death certificate, Annexure-I (Letter of Indemnity), Annexure-II (Affidavit), Annexure-III (Letter of Disclaimer of Affidavit), KYC papers of the claimant, deponents, witnesses, sureties, etc. must all be submitted if there is no nominee listed in the policy. If claims are made for deposits worth more than Rs 5 lakh without nomination, the claim can only be satisfied through a Succession Certificate. Also take note that claims up to Rs. 5 lakh without nomination may be settled six months after the depositor's passing.

Account holders and depositors must submit an application in the required form SB 10(B)/NC-32 together with their Passbooks and KYC papers if they wish to move their accounts or certificates. Either the transferring office or the transferee office may submit a transfer application. However, the relevant Head Post Offices will handle the transfer process.