6. Process of release of pledged gold collateral in case of Death of borrower:
In the event of sudden demise of the borrower(s), the pledged ornaments will be handed over to the Nominee/legal heir only who would have to visit the branch to pay the outstanding loan amount and submit a request letter as per the format of the company along with:
- Death certificate of the borrower(s);
- Gold Pledge Card;
- legal heir certificate (in case of legal heir) issued by the Revenue officer or any such legal document specific to that location/state;
- Notarised Indemnity as per the format of the company wherein the cost of stamp duty and notary to be borne by borrower(s)
- KYC of the Nominee/legal heirs
- Authorisation Letter from rest of legal heirs along with self-attested KYC in case of delivery of the ornaments to any one of the legal heirs.
