FD and RD without nominee - Please help

Ashwini Acharya (Querist) 16 September 2011 This query is : Resolved
My sister's husband got expired 6 months back his husband had made some FD and RD in the back without nominee? How to get that money in my sister's name? He even have taken car even that papers and insurance papers should has to get transfer ed in her name what is the procedure and how to get it done? please and urgent reply regards Ashwini Rao

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Guest (Expert) 16 September 2011
She may need to produce a succession certificate granted by a competent court of law to claim the amount of FD and RD, or the consent statements of all eligible hiers to the Bank, as the case may be and would depend upon the amount of the FD/RD. You may need to contact the concerned bank to know whether the amount of claim would need succession certificate or mere consent statements of the legal hiers would do.

ajay sethi (Expert) 16 September 2011

bank will on being furnished attested copy of death certificate handover money to your sister on furnishing letter of indemnity and 2sureties of any person who is not your relative to indemnify bank against any claims made by other legal heirs .
the bank may also insist on affidavit being furnished by legal heirs

you can also submit successon certificate if you so desire .

ajay sethi (Expert) 16 September 2011
To
The Branch Manage
Bank Ltd.,
________________ Branch.
IN CONSIDERATION of your paying or agreeing to pay me/us,
Insert here the 1) __________________________________________
Name(s) of 2) __________________________________________
Claimants 3) __________________________________________
4) __________________________________________
The sum of Rupees______________________________________________ standing at the credit of Savings Bank/Current/R.D. Account No. etc. __________ with your bank in the name of Shri/Smt./Kum. _______________
since deceased, without production of Letters of Administration or a Succession Certificate to his/her estate or a Certificate from the Controller of Estate Duly to the effect that estate duly has been paid or will be paid or none is due I/we do hereby for myself/ourselves and my/our heirs, legal representatives executors and administrators, jointly and severally UNDERTAKE AND AGREE to indemnify you and your successors and assign against all claims, demands, proceedings, losses, damages, charges and expenses which may be raised against or incurred by you by reasons or in consequence of your having agreed to pay/or paying me/us the said sum as aforesaid.
SIGNED AND DELIVERED
By the above named on this _____________ Day of ___________________two thousand _____________________________
SIGNED AND DELIVERED by
the above named
1. ___________________ 2. _____________________ 3._______________
4.____________________ 5._____________________ 6._______________
(heirs /claimants of the deceased)
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prabhakar singh (Expert) 16 September 2011
Both experts are right in their opinion,it is the discretion of Bank whether to give against an indemnity or against succession certificate,where large sum is involved ,they generally ask for succession certificate ,rapport and liaison with banker also plays a role.