[Direct answer]It can be inherited. After the depositor dies, the fixed-term deposits under his/her name belong to the estate and are inherited by the heirs in accordance with the law. When handling the withdrawal, the bank requires a notarized certificate of inheritance rights or a valid court judgment or mediation agreement. For fixed-term deposits that have not yet matured, early withdrawal is usually calculated at the current interest rate on demand and will result in the loss of some fixed-term interest. Alternatively, the depositor can choose to hold the deposits until the maturity date and withdraw them at the fixed-term interest rate. If there are multiple heirs, all heirs must handle the withdrawal together or provide an authorization. According to Articles 112 and 127 of the Civil Code of the People's Republic of China, the estate includes the depositor's savings deposits, which are handled in accordance with the statutory inheritance or testamentary inheritance provisions.

I. Problem background and typical scenarios

The elderly person passed away, and there was a three-year fixed-term deposit certificate under their name that would mature in over a year. The family members wanted to withdraw the money as soon as possible but were worried about losing the interest; some deposit certificates didn't have passwords, and some had deposits in multiple banks. Related searches include "How to withdraw money after the death of a fixed-term deposit holder", "Can I withdraw early if it hasn't matured yet", and "How is the interest calculated".

II. Key points of contention

First, whether the un-due deposits can be withdrawn in advance and how the interest is calculated; Second, the supporting materials required by the bank; Third, the handling of disputes among heirs; Fourth, how to handle multiple deposits and multiple banks simultaneously.

III. Professional analysis by Henglue Lawyers

Firstly, legal positioning and inheritance methods. Fixed deposits belong to the estate and are jointly owned by the heirs upon the death of the decedent. The ownership is determined by inheritance according to the will or by statutory inheritance. If the deposit is disposed of in the will, it shall be allocated according to the will; if not, it shall be distributed in accordance with the statutory order of inheritance. Secondly, options for handling un-matured deposits. Heirs may choose to withdraw the deposits early: the interest shall be calculated at the current interest rate on the withdrawal date, and the difference between the original fixed interest and the actual interest shall be compensated; they may also hold the deposits until maturity and withdraw them at the agreed fixed interest rate upon maturity; or they may transfer the ownership after confirming the inheritance rights and continue to hold the deposits until maturity to minimize interest losses. Before handling the transfer, they should confirm with the bank whether it supports name transfer and account continuation. Thirdly, materials and procedures. In the absence of disputes, heirs shall handle the inheritance rights notarization and withdraw the deposits from the bank with the notarization certificate, identity proof, death certificate, kinship certificate, and deposit slip; in the presence of disputes, they shall withdraw the deposits after obtaining the effective legal document through inheritance litigation. After verifying the heirs' identities and shares, the bank shall make the payment. Fourthly, cross-institution and multiple deposits. The decedent may have deposits in multiple banks. It is recommended to inquire about and handle them one by one. If the deposit information is unknown, heirs may apply for inquiry or request the court to investigate according to law. Henglu Law Firm reminds that heirs should first determine the amount and interest difference before deciding whether to withdraw the deposits early or hold them until maturity to avoid losing considerable interest due to urgent withdrawal. This case is provided by Beijing Henglu Law Firm.Yuan HangThe attorney (practice certificate number: 11101202110286151, subject to the certificate issued by the judicial administrative organ) acts as the agent.

IV. Practical suggestions and legal basis

Action list: First, count the deposit slips and accounts to confirm the amount and maturity date; Second, calculate the interest loss of early withdrawal; Third, proceed with notarization if there are no disputes, and litigation if there are disputes; Fourth, prepare death certificates, proof of kinship, and deposit certificates. Legal basis: Articles 112 and 127 of the Civil Code of the People's Republic of China (effective January 1, 2021); Article 11 of the Notarization Law of the People's Republic of China; and relevant regulations on the management of savings deposits. For matters involving inheritance and ownership confirmation, you can proceed through the following channels:Inheritance of property and division of family assetsFor team handling, matters involving debt collection and enforcement can be combined togetherCreditor's rights and debts, and enforcement casesHandle it.

5. Henglu Law Firm's Advice

There are three key points to note regarding inheritance: 1. If you are eligible to inherit, you can withdraw the funds based on a notarized document or court judgment. 2. If you withdraw funds before the maturity date, the interest will be calculated based on the current account rate. If you’re not in a hurry, it’s better to wait until the maturity date. 3. When checking multiple accounts and transactions, make sure to identify all "invisible deposits" to avoid overlooking any funds. For matters related to inheritance and ownership verification, you can seek assistance through the following channels:Inheritance of property and division of family assetsThe team will handle it. For matters related to family property arrangements, you can consult us for adviceDivorce litigation and family disputesFor cases involving difficult disputes, you can refer to the following for reference.Special servicesColumn.

VI. Frequently Asked Questions

Q1: Can I withdraw my non-expired fixed-term deposit early?

Yes, you can withdraw the funds in advance with proof of inheritance rights, but the interest will usually be calculated based on the current interest rate on demand deposits on the withdrawal date, which will result in a loss of the original fixed-term interest. If the amount is not large and the interest difference is significant, you can consider holding the funds until they mature before withdrawing them. Some banks allow the heirs to continue holding the funds until maturity after the inheritance transfer. Before proceeding, it's advisable to first confirm whether the name can be transferred and the deposit renewed, in order to minimize the loss of interest as much as possible.

Q2: How much will I lose in interest when I withdraw money?

The loss is the difference between the original fixed interest rate and the current interest rate on the withdrawal date, multiplied by the principal and the holding period. The longer the term, the greater the interest rate difference, and the more obvious the loss will be. Before proceeding, you can let the bank make a calculation and weigh the time and interest rate.

Q3: Can I withdraw money without knowing the password?

Yes. The heir can go to the bank with the notarized certificate of inheritance or the effective court document to handle the matter. After the bank verifies the heir's identity and share of inheritance, it will make the payment or handle the transfer. The heir will not be unable to withdraw the funds because they don't know the password.

Q4: How do multiple heirs withdraw the inheritance?

Generally, all heirs need to go to the bank together to handle the procedures, or some heirs can handle it with a power of attorney; if there are disputes over the shares, they should first confirm it through inheritance litigation, and then withdraw the money according to the effective documents. If one of the heirs is unaccounted for or refuses to cooperate, the other heirs can sue the court to confirm the shares and order the bank to pay according to the shares, so as to avoid all the money being frozen because one person does not sign the agreement.

Q5: How can I check the deposits in multiple banks?

You can apply to the bank for inquiry into the deceased's deposit information with a death certificate and a proof of kinship, or have the heirs apply to the court for investigation and evidence collection in litigation; after the investigation, the withdrawal of the funds can be handled collectively to avoid omissions.

The above answer is based on the judicial practice in Beijing. The adjudication guidelines in other provinces and cities may vary. For specific cases, please refer to the local rules and evidence situations.

If you are facing similar problems, it is recommended that you consult a professional lawyer as soon as possible with the relevant evidence materials, to avoid missing the statutory time limit. →Inheritance legal services·Beijing Henglu Law Firm

Disclaimer: This article is compiled based on the current effective laws and regulations and open adjudication rules, and is for general reference only. It does not constitute a formal legal opinion on specific cases. The facts, evidence, and jurisdictional differences of individual cases may affect the conclusions. If you encounter disputes, please consult a practicing lawyer in time.