New Delhi: If you have a savings or deposit account with State Bank of India and the account holder has passed away, you may be eligible to claim the funds in that account. SBI has made the deceased claim settlement process easier and more straightforward, with updated guidelines, online application options and a clear list of documents required. This guide explains how the process works and what you need to know.
What Is a Deceased Claim?
A deceased claim refers to the process by which the legal heirs or nominees of an account holder who has died can withdraw the remaining balance from the deceased person’s bank account. This includes savings accounts, fixed deposits, recurring deposits and other SBI account types.
SBI has revised its claim settlement rules to make it more efficient and less burdensome for families who must handle the financial affairs of a loved one.
Who Can Apply?
The following people can apply for the deceased claim settlement:
Nominees registered with the bank account
Legal heirs when there is no nominee
Executors or administrators of the estate as per legal documentation
The bank will verify the relationship and documentation before releasing funds.
How to Apply Online
SBI has introduced an online application facility that allows nominees and legal heirs to file the claim without visiting a branch physically. Here’s how it works:
Visit the official SBI website and navigate to the deceased claim section.
Fill out the online form with details of the deceased account holder and your relationship to them.
Upload scanned copies of required documents (listed below).
Submit the application and note the reference number for tracking.
You may receive communication from the bank if any additional verification is needed.
The online option is particularly useful during pandemic-related restrictions and reduces paperwork.
Documents Required
To process a deceased claim, you will generally need:
Death certificate of the account holder (issued by appropriate authorities)
Account passbook or account details
Nominee’s ID proof and address proof
Legal heir certificate or succession certificate (if no nominee is on record)
Executor/administrator documents (if the estate is being handled legally)
Ensure that all documents are valid, legible and properly certified where required. Incomplete documentation could delay claim settlement.
How the Claim Is Processed
Once the bank receives your application and documents:
SBI will verify the death certificate and check the nomination details in its records.
If there is a registered nominee, the claim will usually be processed faster.
If there is no nominee, the bank may request a legal heir certificate or succession certificate to determine eligibility.
After verification, the bank will credit the claim amount directly into the claimant’s bank account or issue a payment as per bank policy.
The timeline can vary based on document verification and whether nominations or legal heir certificates are involved.
Important Things to Keep in Mind
Make sure the nominee details are up-to-date on your own accounts to avoid delays for your family later.
If there is no nominee, be prepared to provide legal heir documentation.
Follow up with the bank branch or through the online reference number if the process is taking longer than expected.
Why This Matters
Handling the financial formalities after the death of a loved one can be emotionally and administratively stressful. SBI’s simplified claim settlement rules and online filing option are intended to reduce complexity and give families quicker access to necessary funds.
Bottom Line
If you need to settle an SBI account after the account holder has passed away:
Determine whether a nominee is registered.
Collect the required documents (death certificate, ID proofs, heir certificates).
Use the online application facility or visit an SBI branch if needed.
Keep track of your application with the reference number.
These updated procedures aim to make the process smoother, faster and less stressful for claimants.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: ZEE News
