Succession certificate

A succession certificate is issued by a civil court and authorises a person to collect money and securities owed to someone who has died. Banks may ask for one for large claims where there’s no nominee, though RBI now lets them accept a legal heir certificate or an affidavit instead.

What it is for

A succession certificate deals with the movable financial estate of someone who died without a will: bank deposits, shares, bonds and similar debts owed to them. A civil court, after a formal application and a notice period for objections, issues it to the rightful heir, giving them legal authority to collect those assets and giving the bank or company the comfort that paying that person is safe. It typically does not cover immovable property like land.

When a bank actually needs one

Under RBI’s 2025 directions, a bank should ask for a succession certificate only when there is no nominee or survivor and the claim is above the bank’s threshold, at least ₹15 lakh for most banks and ₹5 lakh for co-operative banks. Even then, the bank can instead accept a legal heir certificate or a sworn affidavit, and where there is a nominee or survivor it cannot insist on a succession certificate at all, whatever the amount.

How it differs from the others

Keep three documents straight: probate confirms a will; a legal heir certificate simply names the heirs, from the state revenue office; a succession certificate, from a court, authorises collecting debts and securities when there is no will. See claiming a parent’s money after they die.