UCO Bank

Salient Features: Deceased Claim Settlement

The salient features of deceased claim settlement are clarified under the following three heads, namely - (A) with nomination, (B) Joint Account with survivor clause, and (B)without nomination:-

WITH NOMINATION

Submit Claim Form as per Annexure 2 (pages 23-24) to the Branch, when the account has nomination and claim amount is Rs.50,00/- or less.

Submit Claim Form as per Annexure 3 (page 25) to the Branch, if there is nomination to the account of the deceased having claim amount of more than Rs.50,000/-. Filled up Indemnity Bond on requisite stamp paper as per Annexure 4 (pages 27-28) is to be submitted to the Branch by the nominee and the indemnifier, if claim is to be settled without production of relevant Pass Book/Deposit Certificates/Safe Custody Receipts and Locker Keys etc.

  • Upto Rs. 50,000/-
  • More than Rs.50,000/-

JOINT A/C WITH SURVIVOR CLAUSE

Submit Claim Form as per Annexure 2 (pages 23-24) to the branch, when there is a joint account with survivor clause and claim amount is Rs.50,000/- or less.

Submit Claim Form as per Annexure 3A (page 26) to the Branch, when there is a joint account with survivor clause and claim amount is more than Rs.50,000/- & the account may be continued to be operated by the Survivor(s).

  • Upto Rs. 50,000/-
  • More than Rs.50,000/-

WITHOUT NOMINATION

  • Upto Rs.50,000/-
    • Submit Application as per Annexure-7 (pages31-32) to the Branch when the account has no nomination or is a joint account without survivor clause and claim amount is Rs.50,00/- or less, and
    • Submit filled up Letter of Indemnity on requisite stamp paper as per Annexure 8 (page 33) to the Branch.
    For claim amount upto Rs.50,000/-, even though there is neither nomination nor survivor clause, there is no need to furnish any surety.
  • More than Rs.50,000/-
    • Submit filled up prescribed Application Form (G64-Revised) for claims above Rs.50,000/- to the Branch indicating details of the deceased person’s assets and liabilities and family declaration of the deceased as per Annexure-9 (pages 34-38), and.
    • Submit an Affidavit on requisite stamp paper as per Annexure 10 (pages 39 -40) affirmed by the claimant(s) and /or legal heir(s) of the deceased declaring that save and except him and/or them no other claimant/legal heir of the deceased is having any claim, only in account having an amount of more than Rs.50,000/-, and
    • Submit filled up indemnity as per Annexure-11 (page 41) by claimant (s) and two sureties, acceptable to the Bank.

    Check list for settlement of Deceased Claim

    For further clarification, please feel convenient to contact the Manager/Senior Manager/Chief Manager at your nearest Branch of UCO Bank.

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