Public Provident Fund: The Public Provident Fund is a wise choice for investments. There is a nomination feature in this. How may the nominee make a claim if the PPF account holder passes away? We’ll tell you in this article today. The nominee may obtain the amount upon the account holder’s passing by completing the paperwork found on the bank or post office website. You can make a claim for up to Rs 1 lakh without a succession certificate.
Nominee’s Right to Claim Funds
Upon the death of the PPF account holder, the nominee may claim the funds. Prior to the credit being transferred, the amount owed on the account will be subtracted. To make a claim, Form G must be completed. Form G is available for download on the bank’s or post office’s website. You must fill out this form with details about your account, nominee, mobile number, etc.
Documents Needed
When an account holder passes away, a claim can be made in one of three ways. In order to file a claim, a few required documents must be presented.
When Enrollment Takes Place: Form filled by the nominee, Death certificate, Account holder’s passbook
There is No Nomination and Claim Legal Heir: Form filled by the legal heir, Attested copy of death certificate, Succession certificate or will
Other important things about PPF: Until the funds are retrieved, interest is accrued on the money placed in the PPF account, Upon the subscriber’s death, the PPF account is closed, No interest is given on the money deposited into a PPF account after the subscriber’s death, You can make a claim for up to Rs 1 lakh without a succession certificate.
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