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Indemnity Bond for Deceased's Bank Claim

At a glance

Price
₹199 · GST included
Stamp duty
Chargeable as a Bond under Schedule 1-A of the Indian Stamp Act, 1899 as applicable to Punjab, and under the corresponding entry of that Schedule as applicable to the Union Territory of Chandigarh.
Registration
Not compulsorily registrable.
Witnesses
Two witnesses to the signatures of the Claimant(s) and any surety are provided for below, consistent with normal practice for executing a bond; some banks ask for the witnesses to be account holders at the same branch or to be otherwise known to it — confirm before the appointment.

₹199

GST included

Launch period: downloads are free for now. The prices shown apply once payments open.

Guided questions, full draft on screen, download in Word.

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Also called

  • Indemnity Bond for Claiming Deceased's Bank Account
  • Bank Indemnity Bond
  • Deceased Depositor Claim Indemnity
  • Letter of Indemnity to Bank
  • मृतक के बैंक दावे हेतु क्षतिपूर्ति बॉन्ड
  • बैंक इंडेमनिटी बॉन्ड
  • ਮ੍ਰਿਤਕ ਦੇ ਬੈਂਕ ਦਾਅਵੇ ਲਈ ਮੁਆਵਜ਼ਾ ਬਾਂਡ

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

An account holder has died, no nominee covers the balance, and the legal heirs want the bank to release it without going to court first for a succession certificate, letters of administration or probate. Most banks allow this below a threshold fixed by their own board-approved policy — sometimes with a surety, sometimes without one — in exchange for an indemnity bond from the claiming heir(s): a promise to make the bank good if somebody else later turns out to have a better right to the money. This bond does not decide who the legal heirs actually are — it assumes that question is settled, by a legal heir certificate or otherwise, and simply protects the bank for paying out on that basis without a court order. Where heirship itself is disputed, a bank will commonly decline this route regardless of what this bond says. Not for a claim above the bank's own threshold, or one the bank has told you needs a succession certificate — ask the branch first what route it will accept before preparing this bond.

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Chargeable as a Bond under Schedule 1-A of the Indian Stamp Act, 1899 as applicable to Punjab, and under the corresponding entry of that Schedule as applicable to the Union Territory of Chandigarh. Duty on a bond is ordinarily ad valorem on the sum secured, but banks commonly prescribe their own fixed stamp paper value for a deceased-depositor indemnity of this kind, within their board-approved policy, and accept that value in practice rather than insisting on the ad valorem figure. Use the value the bank's own format specifies if it gives one; otherwise confirm the ad valorem rate with the stamp vendor or Sub-Registrar before buying the stamp paper.

Registration

Not compulsorily registrable. A bank balance is money, not immovable property, so section 17 of the Registration Act, 1908 — which reaches instruments affecting rights in immovable property — does not apply to this Bond regardless of the amount involved. It is simply handed to the bank and kept on the bank's own file.

Notarisation

Banks commonly ask for the Claimant's (and any surety's) signature to be verified by the branch itself, and separately for any accompanying affidavit of legal heirship to be sworn before a Notary Public or an Oath Commissioner. Ask the specific branch what it wants notarised and what it will verify itself before the appointment.

Witnesses

Two witnesses to the signatures of the Claimant(s) and any surety are provided for below, consistent with normal practice for executing a bond; some banks ask for the witnesses to be account holders at the same branch or to be otherwise known to it — confirm before the appointment.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

Sample preview — placeholder answers, not your data

INDEMNITY BOND

This Indemnity Bond is executed at Ludhiana on 2 April 2026

BY

Rajinder Lal, son of the deceased account holder named below, resident of House No. 44, Model Gram, Ludhiana 141002, PAN X, and X, resident of X (the "Claimant(s)", which expression includes their respective heirs, executors, administrators and legal representatives)

IN FAVOUR OF

Punjab National Bank, Feroze Gandhi Market Branch, Ludhiana 141001 (the "Bank").

WHEREAS:

A. Harbans Lal, son/daughter/wife/husband of Late Sh. Om Parkash, held a savings account

bearing account number 001234567890 with the Bank at its branch stated above.

B. Harbans Lal died on 1 April 2026, Death Certificate No. LDH/2025/018842, without the Bank having received any nomination in respect of the said account covering the balance now claimed.

C. The Claimant(s) claim the balance standing to the credit of the said account, amounting to ₹3,20,000 (Rupees Three Lakh Twenty Thousand only), as legal heir(s) of the deceased, on the basis of a legal heir certificate, particulars of which are given below

Issued by the Sub-Divisional Magistrate, Ludhiana, No. LHC/2025/6631 dated 2 August 2025

Questions about this document

Does the Indemnity Bond for Deceased's Bank Claim need stamp paper or stamp duty in Punjab and Chandigarh?

Chargeable as a Bond under Schedule 1-A of the Indian Stamp Act, 1899 as applicable to Punjab, and under the corresponding entry of that Schedule as applicable to the Union Territory of Chandigarh. Duty on a bond is ordinarily ad valorem on the sum secured, but banks commonly prescribe their own fixed stamp paper value for a deceased-depositor indemnity of this kind, within their board-approved policy, and accept that value in practice rather than insisting on the ad valorem figure. Use the value the bank's own format specifies if it gives one; otherwise confirm the ad valorem rate with the stamp vendor or Sub-Registrar before buying the stamp paper.

Does the Indemnity Bond for Deceased's Bank Claim need registration in Punjab and Chandigarh?

Not compulsorily registrable. A bank balance is money, not immovable property, so section 17 of the Registration Act, 1908 — which reaches instruments affecting rights in immovable property — does not apply to this Bond regardless of the amount involved. It is simply handed to the bank and kept on the bank's own file.

What does the Indemnity Bond for Deceased's Bank Claim cost on Kaagazaat?

₹199, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Indemnity Bond for Deceased's Bank Claim need witnesses?

Two witnesses to the signatures of the Claimant(s) and any surety are provided for below, consistent with normal practice for executing a bond; some banks ask for the witnesses to be account holders at the same branch or to be otherwise known to it — confirm before the appointment.

Often needed with this document

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