Transmission of corporate FDs can be done in two ways.
(i) The invested CFD amount can be transmitted to the nominee from the deceased to his/her registered nominee.
Documents required for transferring the Corporate FDs to the nominee are:
- Certificate back side joint holder signature is required
- Cancelled cheque copy
- Request letter
- Death certificate original or notarized
- Premature format if FD pre-closed
- KYC document for joint holder/nominee
- TAT is 7 to 10 working days.
Documents required for transferring the Corporate FDs to the nominee in case of a minor are:
- Certificate back side guardian and nominee's signature are required
- Cancelled cheque copy
- Request letter
- Death certificate original or notarized
- Premature format if FD pre-closed
- KYC document for the nominee's guardian
- Nominee's birth certificate
- Nominee's valid bank account proof under the name of the guardian
- Nominee's valid address proof
(ii) The invested CFD amount can be refunded to the nominee from the deceased client once after the tenure is completed, here the principal amount + interest amount will be paid back to the nominee.
Incase of premature withdrawal, the enclosed premature withdrawal form has to be submitted along with the below documents.
Documents required for refunding the Corporate FDs are as follows:
- Certificate back side joint holder signature is required
- Cancelled cheque copy
- Request letter
- Death certificate original or notarized
- FD application form
- KYC form and document for joint holder/nominee
- TAT is 7 to 10 working days.