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KNOW YOUR CUSTOMER (KYC GUIDELINES)

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SCSS-Death of the depositor

In case of death of the depositor before maturity the account shall be closed and deposit refunded on application in Form F alongwith interest to the nominee or legal heirs in case the nominee has also expired or nomination was not made as per rules.

If the total amount including interest payable is upto rupees one lakh it may be paid to the legal heirs on production of

  • letter of indemnity
  • an affidavit
  • a letter of disclaimer on affidavit
  • a certificate of death of the depositor on stamped paper in the form as in Annexure to Form F.

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