In case og no nominee the property ie movable or immovable goes to the legal heirs. 7 years are required and after that the heir can ckaim the property.

Nominee is merely a custodian. Money will go to wife and wife can directly approch bank to release money to her.

Wife/nominee can claim just after death of husband.

Legal heirs of deceased can directly claim money.

It will be in custody of bank and it will be paid to the claimant after issue of indemnity bond. If not claimed it will go to govt treasury. She needs to apply and prove the heirship. Once proved it will not take much time

1. If there is no clsimant then the Bank retains the money for the time as prescribed by RBI after which the money is escheated to the Government. 

2. Wife being the vlass I legal heir can immediately claim the money. 

3. The legal heir in spite of mentioning the name of nominee can claim money on production of succession certificate. 

The bank has to be intimated by the nominee or the legal heirs of the deceased about the death of the account holder and produce a copy of the death certificate to confirm his death and make a claim.

If the nominee proves himself with proper identity and if the nomination is valid then the bank will settle the amount to the nominee within very short period.

If there is no nomination then the bank may insist on succession certificate from the legal heirs  to settle the amount to the successors of the deceased.

Some banks accept the family tree certificate duly notarised and after obtaining an indemnity bond from the legal heirs/claimants and on finding the genuineness of the claim, the bank will settle the amount to the legal heirs at the earliest possible.

See even if there is nomination nominee is custodian and wife being legal heir can claim the amount from bank , the bank may ask for indemnity bond or succession certificate. In case bank ask for succession certificate she may apply same before the civil court. 

In case there is no nominee Bank would insist that legal heirs obtain succession certificate or letters of administration from district court before making payment 

2) in alternative if amount is not substantial bank may make payment on legal heirs furnishing indemnity bind to indemnify bank in event of any claim made 

3) if you need succession certificate or LA it would take 6 months 

1. IF Nominee name is recorded in Bank records, THEN Bank is bound to pay the Nominee, on receipt of Death Certificate, Affidavit /Bond and proper application.

2. IF Nominee is NOT recorded in Bank records .OR. "IF" Nominee does not come forward to claim for 6 months, THEN Legal Heirs can claim the Bank account proceeds on receipt of Death Certificate, Affidavit /Bond and proper application.

3. Typically IF all documents are in order as per Bank's requirements and there are no Legal disputes /claims, THEN Bank should pay in 2-4 days, since there is no to stop payments.

Hi 

Nominee is only a trustee who is liable to collect the money from the bank account of the deceased and pay to the legal heirs. 

So, you as a legal heir, can produce the family member certificate and collect the money from bank .

If bank is not giving the monies to legal heirs, then the legal heirs should file a succession petition and ask the court to direct payment to legal heirs. 

Banks can release monies to legal heirs without waiting for nominees.  As a legal heir, please approach the bank.

Hope this information is useful. 

1. Bank cannot then allow anyone to realise the assets of the deceased unless Succession Certificate is issued in favour of the person who applies to bank for realisation of the assets.

2. If there is no nomination made by the deceased then only and only on the basis of Succession Certificate the assets can be realised.

Money will only be paid to nominee only, there is no time limit for it.

If nominee is not found then the person who wants the money needs to have a succession certificate

If nominee is not mentioned then succession certificate needs to produce from court by legal heirs to claim the money from bank.

Dear Sir/Madam,

If the nominee name is wrongly written the same may be corrected by use of affidavit and other supporting documents. In case the nominee does not come for claiming the money in saving account or FD account or nominee is not found the account will be declared dormant by the bank. If there is no mention of nominee in the bank account, the spouse or the legal heir may claim the same amount after production of requirement such as identity proof, legal heir certificate, indemnity bond and other documents as per law. The bank will take not more than a time of one month after fully satisfaction of its procedures as per law. As suggested earlier, in case the nominee does not turn up, the account will remain dormant.   

Ans: If there is mention of the nominee then the bank will pay the FD amount to the nominee only. In-case the nominee is not to be found, then the bank will call his legal hiers or the amount to the legal heirs of the account holder. 

-  If there is nominee in the account , then the bank will pay the amount to the nominee , just after submitting certain proofs of his identity. 

- A nominee is not essentially the legal heir of the deceased . A nominee and legal heir can be different individuals.

- Further , if there is no nominee, legal heirs become eligible to get the amount from the deceased account. 

- Further , if no claim is made by the nominee or legal heirs during a certain period of time , then the account would be treated as inoperative and the amount in credit would be transferred to a designated account of RBI.

- However , if a claim is received after transfer to RBI, then the bank claims refund from RBI and then the bank will pay the amount to the claimant. 

- If, there is no nominee or name is incorrect , then his wife should submit her details including death certificate of her deceased husband to get the amount . 

- However, if there is dispute , then the bank may ask for Succession certificate from the court, and for getting the this certificate and direction to receive the amount , she should file a petition before the court. 

- If nominee is mentioned , then it will take maximum 1 to 2 days. 

If nominee is available, on production of relevant ID proofs (Photo ID, Residence Address, Aadhar etc) and upon satisfying with the proofs submitted by the nominee, it will disburse the amount within 2 to 3 days (depending on the work load at the branch).

If there is no nominee, the Bank will ask for one of the documents viz., Legal Heir, Succession Certificate or Letter of Administration from person claiming the money (for obtaining the above certificates it will take around one to three years).

Best option would be, the person(s) claiming the amount can given a Indemnity to indemnify the bank in case if any third party claims the same, subject the money lying to the credit / FD etc., is not very high.

if the nominee is not available or cannot be found then legal hairs of the deceased may claim the same and bank is bound to release the amount after due compliance of the banking rules.

the bank will demand a legal heir certificate issued by the district court.

A nominee of an account holder is merely a care taker of the property or money. After the death of the account holder, the nominee is the person to whom the property/amount is to be disbursed by the bank and the amount so disbursed is subject to any claim by successors of the deceased. 

If there is no nominee, legal heirs become eligible for the money and final settlement.

It will go yo the government exchequer if yhere is no other legal heirs.

1. Bank can pay money to legal heirs of deceased account holder in case of wrong name or no nominee mentioned in account. 

2. Money can be claimed by legal heirs immediately after death of account holder by producing succession certificate issued from Court.  

3. If nominee name is mentioned than bank will release money to nominee after production of death certificate of account holder and confirming the identity of nominee.