Death Claim Letter Format For Bank Settlement

When a loved one passes away, the family or beneficiaries may need to claim their assets, including bank accounts, to settle their affairs. To do so, they may need to write a death claim letter to the bank.

A death claim letter for bank settlement is a formal request sent to the bank by the deceased person’s legal heirs or beneficiaries to release the funds held in the deceased’s bank account. The letter must be accompanied by the relevant legal documents, such as a death certificate, proof of identity of the heirs, and a copy of the will (if available).

The letter should be addressed to the bank’s branch manager or customer service department and must include details such as the account number, name of the account holder, and the date of death. The letter should also clearly state the intention to claim the funds in the account.

It is essential to follow the bank’s specific procedures for claiming the funds, which may vary depending on the bank’s policies and the jurisdiction in which the account is held. The bank may require additional documentation or verification before releasing the funds.

Writing a death claim letter for bank settlement can be a daunting task, but it is a necessary step in the process of settling a loved one’s affairs. It is essential to ensure that the letter is written accurately and includes all the necessary information and documentation to avoid delays or complications in the settlement process.

TEMPLATE

Date: ……………..

To,
The Branch Manager
(Name of the Bank)
(Name of the Branch)

Sub.: Settlement of Claims in Respect of Deceased Account Holder
Ref: Account No. ……………. in the Name of ………………

Dear Sir/Madam,

I am writing to inform you that (Name of the deceased account holder), the holder of the above-mentioned account, has passed away on (date). Please find enclosed a copy of the death certificate for your records.

Late (Name of the deceased account holder) had maintained the aforementioned account with your bank, which had a balance of (sum of money) at the time of his/her demise. There were also two fixed deposits (FDs) linked to the account, the original receipts of which are enclosed with this letter.

As per the succession certificate/court order dated ………., a copy of which is also enclosed, we are the legal heirs of Late (Name of the deceased account holder) and would like to lodge our claim for the above balances with accrued interest. We declare that we have no objection to your paying the balance amount lying in the said account with your bank and the FDs in the name of the Late (Name of the deceased account holder) to the following claimants:

We confirm that the aforementioned individuals are the legal heirs of the deceased and we have enclosed their identity and address proofs, which are self-attested.

We would like to affirm that neither we nor our heirs or legal representatives will revoke the declaration made herein. We further undertake to bind ourselves without questioning the bank’s action for the payment of the balance in the said account and FDs maturity value to the above-mentioned claimants and for any legal proceedings or third party claim arising out in the future in relation to this matter.

We declare that the facts stated above are true and correct to the best of our knowledge and belief.

Kindly acknowledge the receipt of this letter and the enclosed documents at your earliest convenience.

Thank you for your cooperation.

Yours sincerely,

(signature)
(Name of the Legal heir)

Enclosed:

Identity and address proofs of claimants (self-attested).
Copy of Death certificate of deceased. Certified by a gazetted officer.
Indemnity letter on stamp paper.
Bank passbook, ATM card and cheque book.
Certified copy of Succession/Legal heirship certificate issued by competent authority.
Original FD receipts.