Guides · Updated 25 July 2026

Fixed deposit claim after death in India: NRI heir checklist

Fixed deposits are where a lot of Indian parent wealth sits — and where NRI heirs get stuck: advice slips in a diary, auto-renewals nobody tracked, and nominees that differ from the savings account. Claiming or closing FDs after death follows the bank’s deceased-constituent process for that deposit, not a single national form. Map every FD while parents can still open the app. This is a continuity checklist; confirm settlement rules with the bank for your deposits.

Why FDs need their own inventory line

An FD may share a customer ID with savings but carry a different nominee, maturity date, and lien. Sweep / flexi deposits hide inside savings. Auto-renewed FDs outlive the passbook memory. List each deposit separately on the Life Map.

  • Bank + branch / customer ID + FD account or receipt number.
  • Maturity date and whether auto-renewal is on.
  • Nominee as recorded for that FD.
  • Whether the FD secures a loan or locker — liens block payout.
  • Where the advice slip / e-receipt lives.

Peacetime capture on a video call

  • Open bank FD lists in the app; you type amounts as bands if parents prefer privacy.
  • Photograph physical advice slips from the steel cupboard.
  • Ask about post office time deposits separately.
  • Note OTP phone for each bank.
  • Invite a sibling so the FD list is not trapped abroad.

After death: typical bank path (varies)

Notify the bank with the death certificate and ask for the claim / settlement checklist for term deposits. Nominee claims, survivor joint paths, and heir documentation differ. Premature closure vs holding to maturity may be options — take the bank’s written position; do not rely on a forward.

  • Death certificate and claimant KYC.
  • FD receipts / schedule printouts from the Life Map.
  • Nominee claim form or heir papers as required.
  • Bank details for credit of proceeds.
  • Clear liens / loans before expecting free payout.

Mistakes that cost leave days

  • Closing savings and forgetting FDs under the same CIF.
  • Assuming savings nominee automatically covers every FD.
  • Missing auto-renewed deposits that only appear on the bank’s system.
  • Sibling conflict over “who gets which FD” before the bank will process.
  • Sharing full FD numbers in public groups.

How HeirReady helps

HeirReady is the shared FD inventory and claim checklist. It does not close deposits with the bank. Families that mapped advice slips early spend claim week submitting forms — not hunting diaries.

  • FD items with encrypted refs and nominee notes.
  • Link to our bank-closure and joint-account guides.
  • Shared sibling tracker for each deposit’s status.

Disclaimer

FD claim, premature closure, and interest treatment are bank- and fact-specific. Confirm with the bank or a licensed professional. HeirReady is not a bank and does not process FD claims.

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Not a will. Not a bank. Not a substitute for licensed legal advice.