IOB Digitises Death Claims, Bringing Faster Relief to Families
Indian Overseas Bank Rolls Out Online Death Claim Portal to Ease Settlement Process: Indian Overseas Bank (IOB) has launched a major service for customers’ families. The bank has launched an online death claim settlement portal. Through this, claims related to a deceased customer’s account can now be filed online from the comfort of your home.
This portal is a secure digital platform. Claimants can enter their own and the deceased customer’s information. Required documents can also be uploaded directly. This eliminates the need for repeated visits to the bank branch. The portal also features a real-time tracking system, allowing families to monitor the status of their applications at all times.
The bank stated that the process has been simplified for claims up to ₹15 lakh. No third-party guarantee will be required for this limit. The bank has assured that claims will be settled within 15 days.
IOB has also launched its new corporate website. This website is based on a modern digital platform and aims to provide a seamless and enhanced online experience for customers. The bank states that this move is part of its digital transformation, aimed at reducing time and simplifying processes for families.
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