Dealing with the loss of a loved one
The pain and distress of losing a loved one can be magnified by the financial practicalities that confront the family.
We try our best to make things easier and clearer in matters like closing the loved one’s account with OCBC or opening an estate account (see below).
While we may be able to help with the closure of bank accounts, however, we will not be able to disclose customer information – including account details – to third parties (including next-of-kin) due to our Privacy of Customer Information obligations under the Banking Act.
Please note the relevant steps below if you wish to formally close the deceased’s bank account(s) and withdraw any remaining funds.
Apply for a Grant of Probate
If your loved one left behind a will, the executor(s) named in it will need to ask a court for a Grant of Probate to administer the deceased’s assets.
This process may take some time to complete. You may wish to engage the help of a lawyer.
Learn more about the application process >
While pending for the official documents to be finalised, you can inform the bank to freeze the account(s).
Apply for Letters of Administration
If your loved one did not leave behind a will, you – as an eligible next of kin – must under the Probate and Administration Act ask a court for the Letters of Administration to administer the Deceased’s assets.
This process may take some time to complete. You may wish to engage the help of a lawyer.
Learn more about the application process >
While pending for the official documents to be finalised, you can inform the bank to freeze the account(s).
We will need you to provide us with the following original documents (or certified true copies):
- Deceased’s Death Certificate (Singapore-issued Digital Death Certificates will be accepted from 29 May 2022);
- Grant of Probate or Letters of Administration, together with accompanying Schedule of Assets showing the deceased’s account(s) with us; and
- Documents verifying your identity (e.g. your NRIC).
We will need the surviving joint account holder to provide us with the following original documents (or certified true copies):
- Deceased’s Death Certificate (Singapore-issued Digital Death Certificates will be accepted from 29 May 2022); and
- Documents verifying your identity (e.g. your NRIC).
Being appointed the executor or administrator of your loved one’s estate can be an overwhelming responsibility. We will help where we can.
You may wish to open an estate account (EasiSave Account) with us to manage and distribute the estate.
EasiSave is a current account that earns interest with the convenience and flexibility of issuing cheques and receiving monthly statements.
Eligibility: Singaporeans, Singapore PRs and foreigners aged 18 and above and with minimum initial deposit of S$1,000
Interest rate: 0.05% a year
Fees and charges apply.
| Service charge | S$7.50 if average daily balance for the month falls below S$3,000 |
| Account fee | S$2 per month |
| Cheque book | S$10 per cheque book Cheque book is issued at account opening and automatically replenished |
Documents required:
For us to open an estate account, we will need to be provided with the following original documents (or certified true copies):
- Deceased’s Death Certificate (Singapore-issued Digital Death Certificates will be accepted from 29 May 2022);
- Grant of Probate or Letters of Administration, together with accompanying Schedule of Assets showing the deceased’s account(s) with us;
- Documents verifying the identity of the Executor or Administrator (e.g. your NRIC).
To open an estate account with us, please make an appointment with us via this e-form. For a seamless account opening, please bring the documents above with you during the appointment.
Public Trustee
Family Justice Courts
Intestate Succession Act
Singapore Wills Depository
Please contact us if you require further assistance.
You may reach us at 1800 363 3333
or visit any OCBC branch at your convenience.
Important disclaimers
The information provided herein is intended for general information only and does not contain or convey any legal or other advice. You should seek advice from your professional advisors (including legal advisors) on matters relating to probate and administration.
OCBC Bank does not act as advisor to you and gives no representation or warranty as to the accuracy or completeness of the information provided herein. All information presented is subject to change without notice. OCBC is not responsible for or liable to any person for any loss or damage arising from any reliance on the information provided herein.
Important notices
Grant of Probate
When a person passes away but has written a will before death, the court gives effect to the will through an order (or grant) of the court, referred to as Grant of Probate. The Grant of Probate is a court order which empowers the executor(s) to carry out the instructions in the will, including the distribution of the deceased’s assets to the beneficiaries specified.
Letters of Administration
The Letters of Administration is a document issued by the Family Justice Courts, authorising persons named in the grant to act as administrators of the deceased’s estate. This document is issued where the deceased passed away without writing a will.
| Service charge | S$7.50 if average daily balance for the month falls below S$3,000 |
| Account fee | S$2 per month |
| Cheque book | S$10 per cheque book |