Banking :matured fd , overdue interest
anitas
(Querist) 06 April 2013
This query is : Resolved
I have my moms, matured fixed deposits dated 1985.
These deposits were made for a period of 6 months and since then have not been renewed. My mom expired in 2005 . I want to understand the status of the following issues:
1. How do I close this FD and withdraw this amount.
2. Am I paid the overdue interest, how would this be calculated.
3. In case , nomination is not done , then how do I claim this amount
4. These deposits are in Vijay bank.
Raj Kumar Makkad
(Expert) 06 April 2013
1. Obtain the death certificate, Legal Heirship certificate and any other requirement of the banker after making enquiry thereto.
2. You shall get up to date interest,
3. Already replied under serial no. 1.
4. If no nomination is there, all legal heirs shall have to apply or a succession certificate may also be required. First of all enquire from bank their requirement.
prabhakar singh
(Expert) 06 April 2013
You have not disclosed the amount of FD.
Visit Vijaya bank,persuade him to encash FD
on an indemnity Bond and legal heir certificate which you can obtain from tehsildar,filing application and affidavit to gather with death certificate of your mother.He may agree only when amount is not huge and within his discretionary powers.
In case he does not agree you shall have to apply for succession certificate under section 372 of the Indian Succession act 1925, in the court of civil judge of senior division of the jurisdiction of the place where mother ordinarily use to reside.You would be required to pay court fees as per schedule of the court fees Act applicable in the state.The All heirs of your mother would be party.Notices would be served personally as well public notice would be served by beat of drum as well as by publication in a court's approved newspaper.For doing all this you would need services of a lawyer.
The overdue interest may be paid to you only when you agree to enlarge the FD for a future date.
Sudhir Kumar, Advocate
(Expert) 07 April 2013
this guidance would have been given by bank officials it self if you visited them.
ajay sethi
(Expert) 07 April 2013
agree with experts
V R SHROFF
(Expert) 07 April 2013
First ask Bank to help
If nomination, no problem.
If amt is less, Indemnity Bond will be accepted by Bank top pay you the amt as per Bank Rules.
You are well advised by Experts
