Death Claim Rule Of PPF Sukanya Samridhi And Other Small Savings Schemes Of Post Office

Post Office Scheme Death Claim Rule: Most people invest under the Post Office Small Savings Scheme. In such a situation, if the beneficiary of a scheme dies suddenly, then one should know about the Death Claim Rule of these schemes. Otherwise later it may be difficult to withdraw the money deposited under these schemes. Let us know what are the rules and what documents are required for making death claim under schemes like Post Office Public Provident Fund, NSC, Sukanya Samriddhi Yojana and Term Deposit etc.

settlement rules

The rule of death claim has been simplified under the Post Office’s Public Provident Fund (PPF), NSC and Sukanya Samriddhi. If the amount is up to Rs 5 lakh, then nomination or succession can be done at the discretion of the authority, but if the amount is more than Rs 5 lakh, it is necessary to provide legal documents. If there is no legal proof then the claimant has to obtain succession certificate from the court.

Legal documents for amounts above Rs 5 lakh

As a legal document, you have to give death certificate, passbook or deposit receipt or account details in original, affidavit, letter of disclaimer and indemnity bond.

Who will get the money if the nominee is not there?

Money is given only to the registered nominee under the small savings account of the post office. Although he has to give legal documents and proof, but if the nominee is not added under that scheme, then after the death of the account holders of the small savings scheme, the amount is given to his successor on giving legal documents.

What are the things needed for death claim

If you are going to claim death on the money deposited in the account under small savings schemes, then you must have KYC documents, which will be verified by the organization. Also, there should be bank or post office savings account, nominee’s signature and other documents. With these documents, you can claim the amount deposited under small savings schemes by submitting the claim form.

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