{"id":2082,"date":"2024-05-02T02:56:06","date_gmt":"2024-05-02T02:56:06","guid":{"rendered":"https:\/\/jamawealth.com\/askguru\/?p=2061"},"modified":"2026-03-02T19:21:16","modified_gmt":"2026-03-02T19:21:16","slug":"claiming-fixed-deposit-after-death","status":"publish","type":"post","link":"https:\/\/maxiomwealth.com\/askguru\/2024\/05\/02\/claiming-fixed-deposit-after-death\/","title":{"rendered":"How to Claim Fixed Deposit After Death?"},"content":{"rendered":"\n<p>Claiming a <a href=\"https:\/\/maxiomwealth.com\/resources\/calculators\/fd\">fixed deposit<\/a> after the account holder&#8217;s death involves different procedures depending on whether the account has a nominee or not, and whether it&#8217;s a single or joint account. Here&#8217;s a breakdown:<\/p>\n\n\n\n<p><strong>Single Account with Nominee:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Process:<\/strong> The nominee needs to submit the following documents to the bank:<ul><li>Death certificate of the account holder<\/li><li>Nominee&#8217;s ID proof (Aadhaar card, PAN card, etc.)<\/li><li>Claim form provided by the bank<\/li><\/ul><\/li><li><strong>Payout:<\/strong> Once the bank verifies the documents, the nominee receives the FD amount.<\/li><\/ul>\n\n\n\n<p><strong>Single Account without Nominee:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Process:<\/strong> Legal heirs of the deceased account holder need to submit:<ul><li>Death certificate of the account holder<\/li><li>Succession certificate (obtained from a court)<\/li><li>Claim form provided by the bank<\/li><li>KYC documents of the legal heirs<\/li><\/ul><\/li><li><strong>Payout:<\/strong> After verifying the documents, the bank releases the FD amount to the legal heirs as per the succession certificate.<\/li><\/ul>\n\n\n\n<p><strong>Joint Account:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Types of Joint Accounts:<\/strong><ul><li><strong>Either or Survivor:<\/strong> Upon the death of the first account holder, the surviving account holder automatically gets the FD. They need to submit the deceased&#8217;s death certificate to the bank.<\/li><li><strong>Former or Survivor:<\/strong> Only the second account holder can access the FD after the first holder&#8217;s death. They need to submit the deceased&#8217;s death certificate.<\/li><\/ul><\/li><li><strong>No Nominee in Joint Account:<\/strong><ul><li>If both account holders die and no nominee is present, the legal heirs of the deceased account holders can claim the FD by following the same process as a single account without a nominee.<\/li><\/ul><\/li><\/ul>\n\n\n\n<p><strong>Additional Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Timeframe:<\/strong> The claim settlement time can vary depending on the bank and completeness of documents, but it usually takes a few weeks to a few months.<\/li><li><strong>Maturity:<\/strong> If the account holder dies before the FD matures, the nominee or legal heir can choose to continue the scheme till maturity or claim the amount prematurely.<\/li><li><strong>Succession Certificate:<\/strong> This document is required for legal heirs to claim the FD if no nominee is present and the amount exceeds a certain limit (typically Rs. 3 lakh).<\/li><\/ul>\n\n\n\n<p><strong>It&#8217;s crucial to note that the specific requirements and processes might differ slightly between banks. It&#8217;s recommended to contact the bank holding the FD for the most accurate and up-to-date information.<\/strong><\/p>\n\n\n<!-- mw-cta-block -->\n\n<div class=\"mw-cta-block\" style=\"background:#EEF3FC;border-left:5px solid #1C52A0;padding:22px 26px 20px;margin:36px 0 24px;border-radius:0 10px 10px 0;\">\n  <p style=\"margin:0 0 4px;font-size:11px;font-weight:700;color:#276FC4;letter-spacing:1px;text-transform:uppercase;\">Maxiom Wealth \u2014 Free Tool<\/p>\n  <h3 style=\"margin:0 0 10px;font-size:19px;font-weight:700;color:#113E81;line-height:1.3;\">Are FD Returns Beating Inflation After Tax?<\/h3>\n  <p style=\"margin:0 0 18px;color:#444;font-size:15px;line-height:1.65;\">A 7% FD rate drops to ~4.9% after 30% tax for high earners \u2014 barely above inflation. See how FD compares to goal-based investments over your horizon.<\/p>\n  <a href=\"https:\/\/maxiomwealth.com\/resources\/calculators\/fd\" style=\"display:inline-block;background:#1C52A0;color:#fff!important;padding:11px 22px;border-radius:6px;text-decoration:none;font-weight:600;font-size:14px;margin:0 10px 8px 0;\">FD Returns Calculator \u2192<\/a>\n  <a href=\"https:\/\/maxiomwealth.com\/meeting\" style=\"display:inline-block;border:2px solid #1C52A0;color:#1C52A0!important;padding:9px 22px;border-radius:6px;text-decoration:none;font-weight:600;font-size:14px;margin-bottom:8px;\">Talk to a Financial Advisor<\/a>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Claiming a fixed deposit after the account holder&#8217;s death involves different procedures depending on whether the account has a nominee or not, and whether it&#8217;s a single or joint account. Here&#8217;s a breakdown: Single Account with Nominee: Process: The nominee needs to submit the following documents to the bank: Death certificate of the account holder&hellip;&nbsp;<a href=\"https:\/\/maxiomwealth.com\/askguru\/2024\/05\/02\/claiming-fixed-deposit-after-death\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">How to Claim Fixed Deposit After Death?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,12],"tags":[],"class_list":["post-2082","post","type-post","status-publish","format-standard","hentry","category-earning","category-fixed-deposit"],"_links":{"self":[{"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/posts\/2082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/comments?post=2082"}],"version-history":[{"count":1,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/posts\/2082\/revisions"}],"predecessor-version":[{"id":3203,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/posts\/2082\/revisions\/3203"}],"wp:attachment":[{"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/media?parent=2082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/categories?post=2082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maxiomwealth.com\/askguru\/wp-json\/wp\/v2\/tags?post=2082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}