Finance, Forex and Investments

my mother has saving bank account in central bank of india, now she die, than i want to transfer the fund?

Public Comments

1. First check with th Bank that your mother has nominated anybody in this account. If so, Bank will pay entire amount of the account to the nominee as nominated by your mother. If not, than you have to give some documents to bank such as, Death Certificate of your Mother, Succession certificate, Two sureties and signature of all your Brothers and sisters alongwith your father. After this Bank will pay the balance amount of the account of your mother to all of you.
2. If your mother had nominated somebody, the nominee will be paid the balance in her SB A/c. Otherwise your entire family have to claim on an Affidavit cum Indemnity basis.You just cannot transfer the fund to your account.
3. Was the account in the single name of your mother?? Was any nomination facility lodged for the account of your mother?? The Nominee can withdraw the balance in her account by giving necessary proof and status. Alternate, if you are the only heir that Claim form will have to be filed with the Bank. Visit the Branch where she had her account, update her pass book, lodge Death Certificate along with claim from - and the Bank is expected to release the funds so claimed. Subject to the facts that all reporting given to Bank for the Claim is proved in as satisfactory manner.
4. If your mum had a joint account then the money can be transferred easily to the second applicant. If not then she might have had a nominee for the account. So the bank will pay to the nominee. If both the instances are not there then the money will go into the fathers account if he his alive. Otherwise make a succession certificate for whom the money has to go (This has to be signed by all the brothers and sisters) and then the bank will do the needful. But remember the death certificate given by the municipal authorities has to be submitted to the bank as the proof of your mothers death.