Stories
RBI Message: Claim Deceased Account Holder's Funds in Just 15 Days!
N
News18•29-09-2026, 16:41
RBI Message: Claim Deceased Account Holder's Funds in Just 15 Days!
- •Millions of citizens have received an official RBI message regarding bank account funds after an account holder's death.
- •RBI has simplified the process for heirs to claim money from deceased family members' bank accounts, FDs, and savings.
- •Heirs now need to complete three simple steps, including submitting an application form and necessary documents (death certificate, KYC).
- •Banks are mandated to settle claims and deposit money into the heir's account within 15 calendar days of receiving all documents.
- •If banks delay beyond 15 days, customers can file a complaint with the RBI Ombudsman. Having a nominee is crucial for a smooth process.
Key Questions Answered
According to the Reserve Bank of India's new order, banks are required to settle a claim and deposit the funds into the heir's account within just 15 calendar days from the date of filing the complete application.
To claim the money, heirs must submit a filled application form along with a death certificate, the heir's KYC, and valid identity proof to the bank branch.
If the bank fails to process the claim within the 15-day deadline, the customer can file a direct official complaint against the bank with the RBI Ombudsman.
