Indemnity bond for a deceased depositor's bank claim
What banks ask of a legal heir before paying a deceased depositor's money without a succession certificate.
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How the paper begins
With Dastavo's sample details; the people and places are fictional. The words in blue are the ones you fill in.
INDEMNITY BOND
KNOW ALL MEN BY THESE PRESENTS that I, Balwant Kaur widow of late Shri Jagir Singh, aged about 67 years, resident of Village Kalyanpur, Tehsil and District Amarnagar, Punjab, execute this bond in favour of Amar Co-operative Bank Ltd., Main Branch, Amarnagar.
1.That Jagir Singh, my husband, who held savings account No. 00000012345 and FD No. 7788 with Amar Co-operative Bank Ltd., Main Branch, Amarnagar, died on 04-05-2026 without a nomination in force.
2.That I have asked Amar Co-operative Bank Ltd., Main Branch, Amarnagar to pay me the balance of ₹3,12,450 (Rupees Three Lakh Twelve Thousand Four Hundred and Fifty only) in these accounts as the legal heir, without my producing a succession certificate, with the written consent of the other legal heirs, my sons Harjit Singh and Jaswant Singh, and it has agreed to do so.
3.That if any other person proves a better claim to the money, I shall refund the amount paid to me, with interest, on demand.
4.That I shall indemnify and keep indemnified Amar Co-operative Bank Ltd., Main Branch, Amarnagar against every loss, claim, demand, cost and expense that it may suffer because of its acting on my request, and shall pay any such amount on first demand, without objection.
The rest of the paper is in Dastavo.
What to bring
Papers to bring
- The death certificate of the deceased (photocopy; the original to show)
- Proof that you are a legal heir: the affidavit of legal heirs, or a legal heir (surviving member) certificate
- The passbook, cheque book or FD receipts of the deceased's accounts
- Identity proof of every legal heir, and the other heirs' written consent on the bank's form
- Two witnesses, and a surety if the bank asks, each with an identity proof
Where to go
Signed at the bank branch that holds the accounts, with the bank's own claim form, usually on e-Stamp paper and before witnesses; some banks also want it attested by a Notary.
Fee
Stamp duty on an indemnity bond follows the state's schedule and can depend on the amount; ask the e-Stamp centre before buying. The Notary's fee, if it is attested, is paid at the counter.
Good to know
- Banks usually settle a claim without a succession certificate only up to a limit each bank fixes; above it, see "Succession certificate (s.372 ISA)".
- This bond is for accounts with no nominee; if a nominee was registered, the bank pays the nominee.
- If another heir later proves a better claim, you must refund the money, as the bond says.
Papers and fees can change. Check with the office before you go. Guidance only, not yet reviewed by a lawyer.
Stamp paper
Indemnity bonds and guarantees carry stamp duty that depends on the state and the amount; banks and boards often prescribe their own format. Check before printing.