IOB Launches Online Portal to Settle Death Claims Up to ₹15 Lakh in Just 15 Days

New Delhi: In a major relief for families struggling with paperwork and long processes after the loss of a loved one, Indian Overseas Bank (IOB) has launched an online portal to facilitate death claims. Under this initiative, claims up to ₹15 lakh can be settled within 15 days.

Simplified Claim Process
The online portal allows family members or legal heirs to submit claims from anywhere, reducing the need to visit branches. According to the bank, this step aligns with RBI directives aimed at making claim procedures faster, easier, and transparent.

For claims up to ₹15 lakh, there is no need for a third-party surety, and the bank guarantees settlement within 15 days of receiving all necessary documents.

How to Submit Documents
Claimants can visit digital.iob.bank.in/deathclaimonline and upload the deceased account holder’s details along with supporting documents. Once a reference number is generated, the claimant can track the status of their submission online.

Step-by-Step Guide to File a Claim:

1. Visit digital.iob.bank.in/deathclaimonline.
2. Click on “New Claim”.
3. Indicate whether the claim has a nominee.
4. Enter your mobile number, Aadhaar number, and captcha code.
5. Accept the terms and conditions to submit the claim.

This move by IOB is expected to provide significant relief to bereaved families, offering faster and hassle-free access to their entitled funds.