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In a major step toward improving customer service and easing procedures for bereaved families, state-run lender Indian Overseas Bank (IOB) has introduced a dedicated online death claim settlement portal. The new digital facility enables nominees and family members of deceased customers to submit and track claims from the comfort of their homes.

The initiative is part of the bank’s broader digital transformation push and aims to reduce paperwork, branch visits, and processing delays during a sensitive time for families.

Claims Can Now Be Filed Fully Online

With the launch of the new portal, claimants no longer need to repeatedly visit bank branches to process death-related account claims. Instead, the entire process can be completed online through a secure digital platform.

On the portal, applicants can:

• Enter details of the deceased account holder

• Provide claimant information

• Upload required documents directly

• Monitor the application status in real time

The bank says the platform has been designed to be user-friendly and transparent, ensuring a smoother experience for families dealing with financial formalities after a customer’s death.

Real-Time Tracking for Greater Transparency

A key feature of the new system is real-time application tracking. Families can log in at any time to check the progress of their claim, eliminating uncertainty and the need for follow-up visits or calls.

This move is expected to significantly improve communication between the bank and claimants while speeding up the settlement workflow.

Simplified Process for Claims Up to ₹15 Lakh

IOB has also relaxed documentation requirements for smaller claims. According to the bank:

• For claims up to ₹15 lakh, no third-party surety will be required.

• The verification process has been streamlined to enable faster approvals.

• The bank has committed to settling eligible claims within 15 days.

This is likely to provide substantial relief to families who often face delays due to procedural complexities and guarantor requirements.

New Corporate Website Also Unveiled

Alongside the death claim portal, IOB has rolled out its new corporate website, built on a modern digital framework. The upgraded site is intended to offer customers a more intuitive and seamless online banking experience.

Bank officials stated that both launches are part of a wider strategy to strengthen digital services and improve customer convenience.

Part of IOB’s Digital Transformation Drive

The bank emphasized that the initiative is designed to reduce the emotional and administrative burden on families during difficult times. By digitizing the death claim process, IOB aims to make settlements faster, more transparent, and less stressful.

Industry observers note that such digital claim systems are becoming increasingly important as banks move toward paperless and customer-centric service models.

What It Means for Customers

For IOB customers and their families, the new portal could mean:

• Faster claim processing

• Reduced paperwork

• Fewer branch visits

• Greater transparency through status tracking

• Easier access for nominees

Bottom Line: With the launch of its online death claim settlement portal and revamped website, Indian Overseas Bank has taken a significant step toward simplifying post-death banking formalities. If implemented effectively, the 15-day settlement promise could bring much-needed relief to grieving families while strengthening the bank’s digital service ecosystem.