Unclaimed Deposits: Claim Help for Bank Accounts, FDs and the DEA Fund

How unclaimed deposits end up in the DEA Fund

A savings or current account becomes inoperative when there are no customer-initiated transactions for 2 years. If the balance stays untouched for 10 years, it is treated as unclaimed and the bank transfers it to the DEA Fund under Section 26A of the Banking Regulation Act and the DEA Fund Scheme, 2014.

The same applies to fixed deposits that matured and were never renewed or withdrawn, and to other credit balances left idle. Common reasons: a parent passed away and the family did not know about the account, someone moved city, or a joint holder assumed the other had closed it.

The transfer does not end your right. The bank still pays the claimant, with interest where applicable, and is then reimbursed by the DEA Fund. There is no deadline for claiming a DEA fund balance.

As of 28 February 2026, bank deposits in the DEA Fund stood at ₹60,518 crore (PIB, March 2026).

Do you need help with this?

Most straightforward cases do not need any outside help. The official process is:

1. Search on UDGAM. RBI's UDGAM portal (udgam.rbi.org.in) lets you search unclaimed deposits across participating banks in one place.
2. Contact the bank. The claim is always filed with the bank that holds (or held) the account. You can approach any branch.
3. Complete KYC. For your own inoperative account, reactivation and KYC updating can be done at any branch, and many banks offer video KYC (RBI, January 2024, amended June 2025).
4. Receive the credit. The bank pays into the claimant's own account after verification.

People searching for "unclaimed deposits SBI" or other large public and private sector banks follow exactly the same route. Every bank runs its own unclaimed-deposit desk; UDGAM simply saves you from checking each one separately.

Banks do not charge for this, and RBI instructions (January 2024, amended June 2025) say no minimum-balance penalty applies to inoperative accounts.

Claiming a deceased person's bank account

This is where most families get stuck. To claim a deceased person's bank account, the route depends on whether a nominee or surviving joint holder exists.

• Nominee or survivor registered: payment to the nominee or surviving joint holder is a valid discharge for the bank. The nominee receives the money in trust for the legal heirs.
• No nominee: the legal heirs claim together, using the bank's simplified route below or, for larger amounts, a succession certificate.

RBI 2025 rules on settling deceased customers' claims

RBI issued Directions on settlement of claims of deceased customers in 2025, and banks must implement them by 31 March 2026. Key points:

• No succession certificate is needed up to ₹15 lakh at commercial banks and ₹5 lakh at co-operative banks. Heirs submit a claim form, death certificate, ID, indemnity, no-objection or disclaimer from other heirs and proof of heirship.
• Banks must settle within 15 calendar days of receiving complete documents, and pay compensation linked to the RBI Bank Rate if they delay.
• Claims can be lodged at any branch and online, with an acknowledgement.

Bank locker of a deceased person

For a bank locker of a deceased hirer or articles in safe custody, the same 2025 Directions require the bank to complete the inventory within 15 days. Delay attracts compensation of ₹5,000 per day. Nominees or heirs should attend the inventory and keep a signed copy of the list.

Rules and updates for 2025–26

The four-nominee rule is worth acting on now. With several nominees, a future claim is far simpler for your family than a no-nominee claim.

Merged banks and failed banks

Many passbooks carry the name of a bank that no longer exists after a merger. The account did not disappear: it moved with the business to the bank that took it over, and the claim is filed there. Keep old passbooks, cheque books or FD receipts, as they help the successor bank trace the account.

If a bank failed or was placed under restrictions, DICGC insurance covers deposits up to ₹5 lakh per depositor per bank, paid through the liquidator or the bank.

When families usually need help

• The account holder has died without a nominee and there are several heirs in different cities or abroad.
• The amount is above ₹15 lakh, so a succession certificate may be required.
• Names, dates of birth or addresses differ across passbook, ID and death certificate.
• Only an old passbook or FD receipt from a merged bank survives.
• The branch has closed, or the family has visited repeatedly without a clear answer.

How Expertvuw helps with unclaimed deposits

Where a claim is not simple, our team works alongside you. You remain the applicant, and money is paid only into your own bank account.

1. Case review: we understand the family situation, the bank and what records exist.
2. Tracing and documents: we help trace the account and organise heirship and KYC papers in the form the bank expects.
3. Filing and follow-up: we coordinate submission, track the acknowledgement and follow up with the branch or unclaimed-deposit desk. Where a succession certificate is needed, the petition is filed by an advocate and we coordinate the documentation.
4. Credit: we stay with the case until the bank credits the claimant's account.

Why families choose Expertvuw

• A registered company, Expertvuw Management Pvt Ltd, with offices in Dwarka, Delhi and Udyog Vihar, Gurugram.
• Pan-India and NRI clients handled by one team.
• One team for all assets: deposits, shares, dividends, insurance and more, so a single family estate is handled together.
• Plain-language updates at each stage and disciplined record-keeping.
• We are not affiliated with the RBI or any bank; we help you use the official process correctly.

Related services

• Claim investments of a deceased parent
• Claiming assets without a nominee
• Succession certificate and legal heir support
• Unclaimed company fixed deposit claims
• NRI unclaimed asset recovery

Frequently asked questions

How do I check unclaimed deposits in my name or a parent's name?

Use RBI's UDGAM portal (udgam.rbi.org.in), which searches unclaimed deposits across participating banks using details such as name and date of birth. If a match appears, note the bank and approach any of its branches to claim. Searching is free, and the claim itself is always lodged with the bank.

What is a DEA Fund claim?

A DEA Fund claim is a request to the bank for money it transferred to RBI's Depositor Education and Awareness Fund after 10 years of no activity. You do not apply to the RBI. The bank verifies you, pays the amount with interest where applicable, and is reimbursed by the DEA Fund. There is no time limit to claim.

What is an inoperative account and how do I reactivate it?

An account becomes inoperative after 2 years without customer-initiated transactions. To reactivate, update KYC at any branch of the bank, and many banks now offer video KYC. RBI instructions (January 2024, amended June 2025) also say banks cannot levy minimum-balance penalties on inoperative accounts.

Do I need a succession certificate to claim a deceased person's bank account?

Not always. Under RBI's 2025 Directions, commercial banks do not need a succession certificate for claims up to ₹15 lakh, and co-operative banks up to ₹5 lakh, where heirs give the prescribed documents, indemnity and disclaimers. Above these limits, or where heirs disagree, the bank may ask for one from a civil court.

How long does a bank take to settle a death claim?

RBI's 2025 Directions require banks to settle claims of deceased customers within 15 calendar days of receiving complete documents, with compensation for delay. The clock starts only when the file is complete, so missing or mismatched papers are the most common reason families wait longer.

What happens to a bank locker after the hirer dies?

The nominee, surviving joint hirer or legal heirs can apply to the bank for access. Under RBI's 2025 Directions, the bank must complete the locker inventory within 15 days and pays ₹5,000 per day for delay. Attend the inventory and keep a copy of the list of contents.

My old bank has merged. Where do I claim?

Claim with the bank that took over the merged bank's business. Accounts, deposits and lockers move to the successor bank, so old passbooks and FD receipts remain valid proof. Share whatever records you have with its branch or unclaimed-deposit desk to help trace the account.

Is Expertvuw's help needed for every bank claim?

No. Many claims are simple and the bank's process is free, so you can file them yourself. Families usually contact us when there is no nominee, several heirs, name mismatches or a large amount. We offer an initial case review; contact our team to discuss your case.