What is the amount below which succession certificate is not required?


A woman's husband passed away and she wanted to inherit the money in his bank account. When we approached the bank the bank asked for succession certificate to transfer the money to her account. As i am aware of the RBI guidelines that amount above 10lacs only requires succession certificate. What is the amount below which succession certificate is not required for getting the money transferred as RBI?

Answers (1)


195 votes

In terms of RBI circular DBOD BCNo.148/09.07.007/1999-2000 dated March 14,2000, it was advised that banks should not insist upon succession certificate from legal heirs where the amount to the credit of deceased depositors does not exceed Rs.25,000.

Certain safeguards were stipulated in our Circular DBOD.No.BC.56/09.07.07/2000-01 dated December 6 , 2000 in terms of which banks may call for succession certificates from legal heirs of deceased depositors in cases where

A.  There are disputes and all legal heirs do not join in indemnifying the bank,or

B.  The bank has reasonable doubt about genuineness of the claimant/s being the only    legal heir/s of the depositor.

If your amount does not exceed Rs25,000/- then all the legal heir can apply for Rs25,000/- and along with application you are also required to submit affidavit on Rs.100 stamp paper.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Property Lawyers


Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
20 years Experience
Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
33 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
19 years Experience
Advocate Jaspreet Singh Rai
Greater Kailash 1, Delhi
17 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.

Related Questions


"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."



Related Articles