What is the procedure for a claim on the fixed deposit, when any of the fixed deposit holders die?
- If the fixed deposit is an Individual account and the Individual has nominated a kin as his successor, the kin has to produce a death certificate of the demised depositor and claim the amount.
- Where the deposit has been made as “Either or Survivor” (or) Any one of Survivor (or) Jointly, the claimants have to submit a letter informing the Nidhi of the demise of one of the depositors, submit a letter informing the demise of the depositor along with a copy of the death certificate and claim the amount.
- Where the depositor has not made any nomination, the claimant/claimants have to submit a death certificate and legal heir certificate and thus can claim the deposit amount.
- For more detailed information, you can visit the nearest branch.
- Interest amount is subject to TDS subject to Section 194-A of the Income Tax Act of 1961
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