State Bank of India (SBI), the country's oldest and leading public sector bank is the most trusted financial entity in the country and commands a good market share when in it comes to retail deposits. This is even as Kotak Institutional Equities in its report released earlier this year pointed that PSBs continue to lose their market share in deposits.
Now coming to the core topic of discussion:
What to do in case you lose/misplace your SBI Fixed Deposit Receipt?
Often we lose or misplace our important financial documents and in case you also are in such a situation wherein you are not able to trace your SBI FD receipt or have misplaced it. You can first be assured that the document is not with you by searching it at all possible places where you might have kept it.
Can someone else claim your SBI FD receipt if found by him or her?
As per the SBI Banking personnel, SBI FD receipts cannot be redeemed by any other person other than the deposit holder as for the redemption or withdrawal, customer's signatures are a must.
How to get the duplicate SBI Fixed Deposit Receipt issued?
Now in a case if you fail to find the SBI fixed deposit receipt with you and want to get the same reissued. SBI asks to fill in a form 'Letter of indemnity with respect to lost deposit receipt' and duly attach a Rs. 100 stamp.
The letter of indemnity of the bank read " In consideration of your having this day delivered to me/us the undernoted securities/article covered by your safe custody or deposit receipt specified below which has been lost or mislaid I/we hereby (jointly and severally) agree to hold you harmless from and against all claims, demands and expenses in respect thereof and from and against all loss, damage, costs, charges and expenses which may be incurred or sustained by you in the event of the said safe custody/ deposit receipt being forthcoming at any future time..."
Also, the fixed deposit holder needs to mention details of the FD such as its account number and other relevant details.
Notably, FD receipt is needed at the time of redemption of the deposit or in case of premature withdrawal, so even if you prolong the re-issuance of the same in the hope that you will be able to find it, you will anyhow need the duplicate copy of the FDR in case you fail to trace the original FD receipt.