- IEPF & Share Recovery Services — Pan-India.
- +91 88829 91427
- +91 80768 85539
- info@expertvuw.in
- Pan-India service available.
Claim a Deceased Family Member's Bank Deposits and Locker
Money left in a deceased person's savings account, fixed deposit or locker stays theirs — and then their heirs' — even after the bank marks the account inoperative (no transactions for 2 years) or transfers the balance to RBI's Depositor Education and Awareness (DEA) Fund (after 10 years). The bank still pays the rightful claimant, with interest where applicable, and there is no time limit to claim.
What changed in 2025–26
- Claims up to ₹15 lakh (commercial banks) or ₹5 lakh (co-operative banks) can be settled without a succession certificate — on a claim form, death certificate, ID, indemnity, heirs' no-objection and proof of heirship.
- Banks must settle deposit claims within 15 calendar days of receiving complete documents, or pay compensation at Bank Rate + 4% a year.
- For lockers and safe custody, banks must fix an inventory date within 15 days; delay attracts compensation of ₹5,000 per day.
- Claims can be lodged at any branch, and online, with a written acknowledgement.
- Up to four nominees can now be registered on a deposit account (Banking Laws (Amendment) Act, 2025).
Can you do this yourself?
Yes, if there is a nominee or the amount is within the simplified limit and heirs agree. Search RBI's free UDGAM portal (udgam.rbi.org.in) for deposits moved to the DEA Fund, then submit the claim at any branch of that bank.
When heirs ask for our help
- Deposits above ₹15 lakh that need a succession certificate
- Several banks, or banks that have since merged (e.g., the 2019–20 public sector bank mergers)
- Lost passbooks or FD receipts; name or signature differences
- Heirs abroad, or heirs who must sign no-objections from different cities
- Locker access where there is no nominee
How we work
We confirm which banks hold money, prepare the claim file to each bank's requirements, coordinate heirs' signatures (in India or abroad), lodge the claims and follow up until the money is credited to the heirs' own accounts. Where a court certificate is needed, an empanelled advocate files it and we coordinate.
Frequently asked questions
Is money in the DEA Fund lost?
No. The bank still pays the depositor or heirs and claims reimbursement from the DEA Fund. There is no time limit.
What is UDGAM?
RBI's free portal to search unclaimed deposits across participating banks. It shows where a deposit is; the claim itself is made at the bank.
Do we need a succession certificate?
Not for claims within ₹15 lakh at commercial banks (₹5 lakh at co-operative banks), unless the bank has genuine doubts or heirs disagree.
The bank has merged. Where do we go?
To any branch of the bank it merged into. We can trace the successor bank and branch.
Talk to us
Tell us what you have — a certificate, a passbook, a policy number, or just a name and a company. We will tell you, free of charge, which official route applies and whether you need help at all. WhatsApp or call +91 88829 91427 (10 AM – 7 PM, Monday to Saturday), or use the free case review form.
Expertvuw Management Pvt Ltd is a private company. We are not affiliated with or authorised by IEPFA, SEBI, RBI, IRDAI, EPFO, PFRDA, India Post or any court. The official routes described on this page are free; our role is documentation, heirship paperwork and follow-up support. The claimant remains the applicant and all money is paid directly into the claimant's own account. Information is general and current as of the "last updated" date; rules change and each case differs. Last updated: 28 September 2026. Reviewed by: Expertvuw compliance team.