how to get money from bank if nominee is not mentioned
shreekanta kumar ojha
(Querist) 25 February 2016
This query is : Resolved
My father is not mention the nominee name ni his bank account and also a fixed deposite in SBI. PLZ give me the way how can i get the money from bank.
Thanking you
Shreekanta kumar ojha
Cuttack
Devajyoti Barman
(Expert) 25 February 2016
It appears you have has died.
if that is so and the money does not exceed one lakh then bank on the basis of indemnity bind and NOC of other legal heirs can release the money.
Otherwise succession certificate is the only option.
Rajendra K Goyal
(Expert) 25 February 2016
There is no limit for payment with out legal representation (succession certificate).
In absence of nomination, you have to give indemnity, affidavit, application etc on prescribed format of the Bank for payment.
You can approach court for succession certificate, however, the process is bit costly and taking time.
Visit for RBI notification at:
https://rbi.org.in/scripts/NotificationUser.aspx?Id=2284&Mode=0
can download Indian Banks Association guidelines from:
https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0ahUKEwiD7s_WnJLLAhXTI44KHehPAKMQFghEMAc&url=http%3A%2F%2Fwww.iba.org.in%2Fdeceased-mop-withoutlockers.doc&usg=AFQjCNEBJ6SchgouNlyQShQSUW4ro5AWsQ&sig2=xazivTBts9J_jyCs_pMiqQ
Can also visit at SBI corporate office web for instructions.
R.K Nanda
(Expert) 25 February 2016
Agree with experts
R.K Nanda
(Expert) 25 February 2016
Agree with experts
