9(i)(b). In case of death of minor / person of unsound mind account holder, the payment shall be made as follows.
|
Sl No |
Scheme |
If there is no nomination in force |
If the nomination is in force |
|
1 |
SSA
|
Amount shall
be paid to the Guardian after obtaining death certificate of Minor and
Account Closure Form (SB 7A) |
|
|
2 |
All Schemes Other than SSA |
Amount shall be paid to the Guardian after obtaining death certificate of Minor / Person of Unsound Mind and Account Closure Form (SB 7A) |
Amount shall be paid to the Nominee following the procedure for deceased claim settlement |
(ii) The claimant will present the sanction in original along with the passbook. Necessary action will be taken as for the closure of savings account.
(iii) All payments of the deceased claim cases should invariably be made by cheque or credit into savings account of the claimant standing either at PO or any Bank. Payment through cheque will be made by means of a crossed cheque only.
Source : POSB CBS manual Page 293 ( Rule No 9 (i)b)
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