Guidelines and Forms for Claim Settlement of Deceased Depositors

In the unfortunate event of the demise of an account holder, Jana Small Finance Bank is committed to ensuring a smooth, transparent, and hassle-free settlement process for nominees, survivors, and legal heirs.

We understand that this is a difficult time for the family, and our endeavour is to simplify the claim settlement procedure with clear guidance and timely resolution.

Time Norms for Settlement of Claims

Jana Small Finance Bank shall endeavour to settle claims in respect of deceased customers within 15 calendar days from the date of receipt of all required documents and completion of verification formalities.

For Safe Deposit Lockers / Articles in Safe Custody, the Bank shall process the request and communicate the next steps to the claimant(s) within 15 calendar days from receipt of complete documentation.

Important Note:

Submission of complete and valid documents is necessary for timely settlement of claims. Incomplete or incorrect documentation may result in delays.

Settlement of Claims – Deposit Accounts

A. Accounts with Nomination / Survivorship Clause

Applicable for:

• Savings Accounts
• Current Accounts
• Fixed Deposits / Term Deposits
• Recurring Deposits

Documents Required

1. Claim Form duly signed by nominee(s) / survivor(s)
2. Original or attested copy of Death Certificate
3. KYC documents of nominee / survivor
4. Passbook / Deposit Receipt / Account details (if available)
5. Any other document as may be required by the Bank

Continuation of Joint Accounts
In case of joint accounts with a survivorship clause such as:

• Either or Survivor
• Former or Survivor
• Anyone or Survivor

The surviving account holder may continue or close the account upon submission of:

• Death Certificate
• Updated KYC documents
• Written request for continuation / closure

B. Accounts without Nomination / Survivorship Clause

To avoid hardship to legal heirs and simplify the process, the Bank may adopt a simplified settlement process for claims up to the prescribed threshold limit.

Documents Required

1. Claim Form signed by claimant(s)
2. Death Certificate of deceased account holder
3. KYC documents of claimant(s)
4. Legal Heir Certificate / Family Tree Certificate / Succession documents
5. Indemnity Bond
6. No Objection / Disclaimer from other legal heirs
7. Affidavit / Declaration from legal heirs
8. Any additional documents as required by the Bank

Claims Above Prescribed Threshold Limit
For higher-value claims, the Bank may request:

• Succession Certificate
• Probate of Wil
• Letter of Administration
• Court Order
• Additional indemnities / sureties

Claims Involving a Will / Legal Dispute

Cases involving a Will
Where a valid Will is available, the Bank may process the claim based on:

• Succession Certificate
• Probate of Wil
• Letter of Administration
• Supporting legal heir documents
• KYC of beneficiaries

Cases involving dispute among claimants
In case of disputes among legal heirs / beneficiaries, settlement shall be subject to:

• Court Order
• Succession Certificate
• Probate / Letter of Administration
• Any legally enforceable direction

Premature Closure of Term Deposits

In case of death of a depositor:

• Premature closure of deposits may be permitted as per the Bank’s policy and regulatory guidelines.
• Applicable instructions from surviving depositor(s), nominee(s), or legal heir(s) may be required.

Safe Deposit Lockers & Safe Custody Articles

With Nomination / Survivorship
Access to lockers / articles may be provided to:

• Registered nominee(s)
• Surviving locker holder(s)

Without Nomination
The claimant(s) may be required to submit:

• Claim Form
• Death Certificate
• KYC documents
• Legal heir proof
• Indemnity / Affidavit
• Disclaimer from other legal heirs

Settlement of Claims for Missing Persons

Claims relating to missing persons may be considered subject to:

• FIR copy
• Non-traceable report issued by police authorities
• Court declaration of civil death (where applicable)
• KYC and claim documents of legal heirs / claimants

Submission of Claims

Claimants may submit requests:

• At the home branch
• At any Jana Small Finance Bank branch
• Through designated digital / online channels, wherever available

Download Forms & Documents

The following forms may be made available for download: