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    Process To Claim Unclaimed Balances

    Uploaded by

    Senthil Kumar Ganesan
    The document provides instructions for claiming unclaimed deposit accounts at Indian Overseas Bank after 10 years of inactivity. It outlines 3 steps: 1) The customer submits a claim form with valid identity documents to the branch maintaining their account. 2) For active accounts, a new account will be opened after obtaining new KYC forms. 3) Claims can be filed by legal heirs/nominees by submitting required documents and following the bank's claim settlement process.

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    © All Rights Reserved
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    Process To Claim Unclaimed Balances

    Uploaded by

    Senthil Kumar Ganesan
    32 views2 pages
    The document provides instructions for claiming unclaimed deposit accounts at Indian Overseas Bank after 10 years of inactivity. It outlines 3 steps: 1) The customer submits a claim form with valid identity documents to the branch maintaining their account. 2) For active accounts, a new account will be opened after obtaining new KYC forms. 3) Claims can be filed by legal heirs/nominees by submitting required documents and following the bank's claim settlement process.

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    Unclaimed balance

    Original Title

    Process_to_claim_Unclaimed_Balances

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    The document provides instructions for claiming unclaimed deposit accounts at Indian Overseas Bank after 10 years of inactivity. It outlines 3 steps: 1) The customer submits a claim form with valid identity documents to the branch maintaining their account. 2) For active accounts, a new account will be opened after obtaining new KYC forms. 3) Claims can be filed by legal heirs/nominees by submitting required documents and following the bank's claim settlement process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    32 views2 pages

    Process To Claim Unclaimed Balances

    Uploaded by

    Senthil Kumar Ganesan
    The document provides instructions for claiming unclaimed deposit accounts at Indian Overseas Bank after 10 years of inactivity. It outlines 3 steps: 1) The customer submits a claim form with valid identity documents to the branch maintaining their account. 2) For active accounts, a new account will be opened after obtaining new KYC forms. 3) Claims can be filed by legal heirs/nominees by submitting required documents and following the bank's claim settlement process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    इण्डियन ओवरसीज़ बैंक

    Indian Overseas Bank


    Process for Claiming/Activation of the Unclaimed Deposit Accounts

    As per the Depositor Education Awareness (DEA) Fund Scheme of RBI, the amount to the credit
    of any account in India which has not been operated upon for a period of ten years or any
    deposit of any amount remaining unclaimed for more than ten years shall be credited to the
    DEA Fund within a period of three months from the expiry of the said period of ten years.

    The Customer / Survivor / Legal Heir/Authorized Signatories, as the case may be, will
    visit the branch maintaining his/her account and submit the “Claim Form in the given
    format” duly filled in and signed, along with the available details of the account
    (Passbook/Statements of account, Term Deposit receipts), recent photographs, valid
    Identity and address proof documents (KYC documents) with originals for verification.

    If the customer wants to operate the account, a new account should be opened in
    the system by obtaining new set of application and KYC forms from the customer. The
    proceeds of unclaimed balance account along with applicable interest should be
    credited to the new account. In case of final claims and closure of account, branch
    will accept specific request from the customer to process accordingly.

    PROCEDURE FOR CLAIM:

    Individual claim by customer:

    Customer may visit the IOB branch with the request letter (in the given format) and
    submit valid proof of identity, address & latest photograph. On verification of the
    same, branch will process the customer request accordingly.

    Claim by legal heir/Nominee:

    The Legal Heir / Nominee may visit IOB Branch and submit the required documents.
    Customer would be required to comply with the claim settlement process of the Bank.
    Branches while processing the applications will meticulously follow the Bank’s policy
    for claim settlement of deceased and missing persons.

    Claim of Non-individuals accounts:

    The customer may submit the Claim Form on the Company’s/ Firm’s / Institution’s letter
    head duly signed by the authorized signatories along with their valid identity and
    address proofs. The customer may also be required to submit additional documents
    as required by the Bank.

    The Claim Form is attached herewith.


    इण्डियन ओवरसीज़ बैंक
    Indian Overseas Bank
    Unclaimed Deposits / Inoperative Accounts : Claim Form

    To Date :
    The Branch Manager
    Indian Overseas Bank
    ______________________

    Dear Sir/Madam,

    Sub : SB/CD/Term Deposit account No/Others(specify):-

    I/We the undersigned Mr./Mrs./Ms/________________________________________________________________


    in the capacity of Self/Nominee/Legal Heir/Others (please specify) request for settlement of claim, for
    Deposit account(s) held with your Bank in the name(s) of
    Mr./Mrs./Ms/Others____________________________________________

    Account No. and other details:


    (with documentary proof)
    Name of Claimant(s):
    Communication Address with PIN Code:

    DOB PAN No. Passport No. Tel/Mob. No.

    I/We understand that claim will be settled after due diligence and verification of documents and in
    subject to compliance of bank’s process and policy. I/We undertake to submit the documents as may
    be necessary for the Bank to process the claims and agree to execute the required documents to
    settle the claim.

    Signature: ________________
    Name: ___________________

    Customer Acknowledgement slip (to be filled by the Bank official)

    Date:

    Received a request from Mr./Mrs./Ms. ______________________________________________________ for


    claiming unclaimed Deposits/Inoperative Accounts.

    Indian Overseas Bank


    ____________________ Branch Signature of the Bank Official with Bank seal

    The General Manager


    Indian Overseas Bank
    Balance Sheet Management Department
    763, Anna Salai
    CHENNAI – 600 002
    Tamilnadu State

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