In a major customer-centric initiative, Indian Overseas Bank (IOB) has launched an online death claim portal to help families settle claims without the need to visit bank branches. The move is aimed at reducing procedural delays and easing the burden on legal heirs and nominees during emotionally difficult times.
With the new digital facility, claimants can submit death claim requests from anywhere by logging into the bank’s dedicated portal. The system allows nominees and legal heirs to enter their personal details along with the information of the deceased account holder and upload the required documents online.
According to the bank, claims up to ₹15 lakh will not require a third-party surety, significantly simplifying the process. IOB has also assured that such claims will be processed within 15 days, ensuring faster settlement and improved service efficiency.
The initiative covers savings accounts, fixed deposits, and other deposit accounts maintained with the bank. By digitizing the process, IOB aims to eliminate repeated branch visits, reduce paperwork, and bring greater transparency to claim settlements.
The process broadly involves registering on the portal, submitting claimant and deceased account details, uploading supporting documents such as the death certificate and identity proof, and tracking the claim status online. The bank will verify the documents and complete the settlement within the stipulated timeline.
This step reflects the growing push among public sector banks to adopt digital solutions that improve customer convenience. By introducing the online death claim portal, Indian Overseas Bank has taken a significant step toward making financial processes more accessible, efficient, and compassionate for bereaved families.
Indian Overseas Bank Introduces Digital Death Claim Facility
