Indian Overseas Bank Launches Online Death Claim Portal, Promises Settlement Within 15 Days for Claims Up to ₹15 Lakh

Indian Overseas Bank (IOB) has launched a new online portal to make death claim settlements simpler for families and legal heirs. This move is expected to reduce paperwork, branch visits, and delays during an already difficult time for claimants.

With this facility, families can now submit death claim requests online from anywhere, instead of visiting a branch repeatedly. The bank has also introduced a simplified process for claims up to ₹15 lakh, which will not require any third-party surety.

What Has IOB Announced?

IOB’s new online death claim settlement portal allows claimants to:

• Submit a death claim application online
• Upload documents digitally
• Track claim status using a reference number
• Get faster processing timelines

The bank has stated that death claims up to ₹15 lakh will be processed within 15 days, provided the required documents are submitted correctly.

Key Relief for Families: No Third-Party Surety Up to ₹15 Lakh

One of the biggest challenges in death claim settlements is arranging sureties and completing lengthy formalities. IOB has removed the requirement of third-party surety for claims up to ₹15 lakh, making the process easier for families.

This is especially useful for deposit accounts without nomination or legal representation, where documentation is often more complex.

Step-by-Step Guide: How to File a Death Claim Online?

Here is the process to submit a claim through IOB’s portal:

• Visit digital.iob.bank.in/deathclaimonline
• Click on New Claim
• Choose whether the claim is with nomination or without nomination
• Enter mobile number, Aadhaar number, and captcha
• Accept terms and conditions
• Fill in details of the claimant and deceased account holder
• Upload the required documents
• Submit and note the reference number to track status

Documents Required for Death Claim Settlement

The documents depend on whether the account had a nominee and whether the claim amount is below or above ₹15 lakh.

For accounts with nominee(s), the main requirements include:

• Claim form
• Death certificate
• Valid ID proof of nominee(s)

For accounts without nomination (below ₹15 lakh), additional forms may be needed such as:

• Bond of indemnity
• Letter of disclaimer
• Legal heir certificate or declaration (as applicable)

If the claim is above ₹15 lakh, surety documents and a surety opinion report may also be required.

RBI Guidelines Behind Faster Settlements

In September 2025, the Reserve Bank of India issued standardised guidelines for death claim settlements. The aim was to reduce inconsistent practices across banks. Banks have been directed to implement these guidelines by March 31, 2026.

IOB’s new portal aligns with this push towards faster and more uniform claim settlement systems.

Read more: 8th CPC WhatsApp Scam Exposed: One Click Can Empty Your Bank Account!

Conclusion

Indian Overseas Bank’s online death claim portal is a major step towards reducing the stress faced by families after the loss of a loved one. With online filing, document uploads, tracking support, and a 15-day timeline for claims up to ₹15 lakh, the process is expected to become faster and more transparent.

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