After finding a 20-year-old SBI passbook while cleaning the house, the family came to know that more than Rs 1 lakh was deposited in the account. Can this money be recovered even after so many years and after the death of the account holder?
While cleaning the house, old memories often come to the fore, but sometimes you find something that can change your entire life. These days, a similar case is being discussed on social media, in which a family found about 20 years old State Bank of India (SBI) passbook of their late grandfather while cleaning. When the family saw the account balance they were shocked. Now the biggest question is whether this money can be recovered even after so many years?
Family shocked to see 20 year old passbook
The matter came to light when a woman named Pooja shared the picture of the old passbook on X (formerly Twitter). According to him, a family member found this passbook while cleaning the house. As soon as the father saw the passbook, he recognized that it was his late father’s bank account, about which the family had forgotten years ago.
The family claims that an amount of more than Rs 1 lakh was deposited in the account. Two decades ago, this amount was considered huge, so this discovery was no less than an unexpected gift for the entire family.
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Can the deposited money be recovered even after so many years?
Due to the demise of the account holder and non-use of the account for a long time, many questions arose in the minds of the family. He asked on social media whether the money from this account can still be withdrawn or it has been destroyed forever. Many people aware of banking rules said that the deposit amount does not get lost just because the account remains inactive for a long time. If no claims are made in an account for years, the amount can be transferred to the Unclaimed Deposits (DEAF) fund under the rules. However, legal heirs can claim this amount by completing the prescribed procedure.
What documents will be required to make a claim?
If you want to get the amount deposited in the account of a deceased person, you will have to contact the concerned bank branch. Usually the bank asks for documents like death certificate, proof of legal heir and identity card.
If a nominee is already registered in the account, the process can be relatively easy. At the same time, in case there is no nominee, the bank can ask for succession certificate or other legal documents. Therefore, in such cases, it is considered the best step to contact the concerned bank branch directly and get information about the entire process. If you find any old bank account passbook, FD receipt or other documents in your house, do not ignore them. By following the correct documents and the bank’s procedure, a valid claim can be made even on years old deposits.
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