How to Claim Unclaimed Money Stashed in Indian Banks

India holds over ₹1.84 lakh crore in unclaimed deposits across various banks, which includes savings accounts, fixed deposits, and other dormant accounts. If you believe you have unclaimed funds, here are the steps to reclaim your money.

Step 1: Search for Unclaimed Deposits

• Visit the UDGAM portal, an initiative by the Reserve Bank of India, to check if your name or account details are listed under unclaimed deposits.

• Alternatively, directly contact your bank (such as SBI, HDFC, ICICI, or others) which maintains records of dormant accounts and unclaimed balances.

Step 2: Visit Your Bank with Documentation

• Head to your bank branch with valid identification (Aadhaar, PAN, passport, voter ID) and address documents.

• If claiming on behalf of a deceased relative, submit the death certificate and legal inheritance documents.

• Fill out the claim form provided by the bank for unclaimed deposits.

Step 3: Submit Necessary Documents

• Identity proof, address proof, and proof of your account ownership.

• For claimants of deceased accounts, documents proving legal heirs’ rights are essential.

Step 4: Verification and Fund Transfer

• The bank verifies all submitted documents and processes the claim.

• Once verified, the money is transferred directly to your active account.

• If the deposits have been transferred to RBI’s DEA fund after 10 years, you can still claim it by submitting proper legal documents.