Joint account

Hi, I have a joint saving account and a joint fixed deposit in a bank with my father who expired in 12th May 2010. When I went to bank for withdrawl, the branch manager refuses to give me the claim. He also told that you have not fill the form name 'Either or Survivior'. Now he has told me to go for court succession. I have a brother and two sisters who lives 400 km away from me. The amount in my savings account is only 15000/-. and fixed deposit of Rs. 50000/- what I should do? Please anyone help me.


Consent letters from other legal heirs is necessary to release the amount . The amont could be released to you only if the account is 'Either or Survivor'

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Isaac ji is correct.


Also check the nomination form filed by your father!!


Amount is not much...if the amount were a big amount..then you had to prove that you had earned it and invested in the name of father as a joint investment! otherwise other legal heirs may place their claim!!!




There was a circular 'dated a couple of years back'  from RBI (it must be there on the website still. which I had downloaded a few months back)  which suggested to banks to propose a/c holders to have 'joint or survivor' mode of mandate..........


It reccomended to append 'or survivor' for almost every options of mandate....


In case if more than two people as a a/c holders... (e.g. father, mother, daughters ) was 'joint or all survivors or survivor'


It had a very significant meaning....


Just "joint" mandate is discouraged......



Also "former/latter or survivor"  or "former/latter or joint" is also dangerous...may create problems laterwards!!! if parties develop dispute, strained party may take advantage of it!!!


if joint a/c then.... that word as "joint" should be the "first word"  in the mandate......."survivor" is reccomended as the last word.


RBI circular was really informative!!



very informative clarifcation. keep it up sir.


RBI has prescribed very simple procedure for release of amount of death claims upto Rs.2.00 lakhs [it could be more in some banks as per board resolution] without any legal hurdles or succession certificate etc. Bank has to take indemnity bond, 2 guarantors, affidavits etc and pay to the claimants. Please visit master circular on customer service released by RBI on 01-07-2010, which is available on its website under notifications or master circulars. 

Circular of 01-07-2009 on this issue is at [RBI issued master circulars on important matters every year on 1st July]


RBI / 2009-10 / 57
DBOD.No.Leg. BC.9 /09.07.006/2009-10

July 1, 2009

Master Circular on Customer Service in banks 


You can get papers signed by sisters and brothers and get them notarised at their place of residence only and also obtain authority letter from them addressed to bank to make payment of claim to you by cheque on their behalf.  Thus other claimants need not visit your place for this purpose. Normally medium sized branch manager of a nationalised bank has powers to settle such claims upto Rs.2.00 lacs or else he has to obtain sanction from higher office by sending papers to that office. It should not take more than a month. You should get interest also. 

Please also visit

senior partner

I agree with the view of Mr.Shah.




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