Unclaimed Bank Deposits – Search, Find & Reclaim

On 2nd February 2015, Reserve Bank of India (RBI) issued a notification on Unclaimed Bank Deposits and Inoperative accounts in Banks. As per the notification, RBI said that banks should play a more pro-active role in finding the whereabouts of the account-holders of unclaimed bank deposits/ inoperative accounts.

Actually a few years back itself RBI had issued guidelines to banks about the procedure in dealing with unclaimed money. As per those guidelines, all banks have to display the list of unclaimed bank deposits and in-operative accounts on their respective websites. But, it has been observed that few banks are not following these guidelines. So, RBI issued a new notification again on this matter and had set a deadline too. (RBI’s Notification, Click here)

In this article let us understand about – What are unclaimed bank deposits? What banks do with the unclaimed monies? What does RBI’s notification say? How to search for unclaimed deposits or accounts on bank websites? What is the procedure to reclaim your money/bank deposits?

What are Unclaimed Bank Deposits and in-operative accounts?

Bank accounts or deposits which are inactive or inoperative for 10 years or more are treated as unclaimed monies. As per government estimates, banks had Rs 5,124 crore in unclaimed deposits lying with them as of December 31, 2013.

(Latest Update(15-Jan-2018): According to the latest figures released by the Reserve Bank of India (RBI), Rs 8,864.6 crore is lying unclaimed in 2.63 crore accounts with all bank groups as of December ’16. )

The country’s largest lender State Bank of India tops the list, with Rs 1,036 crore lying in 47 lakh inactive accounts that include both term deposits and CASA. Canara bank follows with Rs 995 crore in 47 lakh inactive accounts, and Punjab National Bank with Rs 829 crore in 23 lakh inactive accounts.

These unclaimed monies can be, fixed deposit maturity amounts which have not been claimed, money lying in inoperative savings or current accounts etc.

What happens to unclaimed deposits or monies lying with the banks?

The maturity proceeds of unclaimed Bank Fixed Deposits will earn the savings bank rate of interest only. If you withdraw the maturity amount of a forgotten FD then you may receive only savings bank interest rate from the date of maturity.

If you agree to reinvest the proceeds then you may get the applicable FD interest rates from the date of maturity. The interest on Savings bank accounts is credited irrespective of whether the bank account is operative or dormant.

As per the Reserve Bank of India (RBI), the bank deposits which have not been claimed for 10 years or more will be transferred to ‘Depositor Education and Awareness Fund Scheme.’

RBI’s new guidelines on Unclaimed Bank Deposits/ Inoperative Accounts in Banks:

  • Banks have been advised to display the list of unclaimed bank deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites.
  • The list so displayed on the websites must contain only the names of the account holder(s) and his/her address in respect of unclaimed deposits/inoperative accounts.
  • The bank account number and bank’s branch details should not be displayed.
  • If the accounts are not in the name of individuals (corporate accounts), the authorized person’s (who are authorized to operate such accounts) details should be displayed.
  • All banks should provide ‘Search/Find’ option to enable the public to search the list of unclaimed deposits or inoperative accounts details. (Banks can provide search parameters like – name of the account holder, Date of birth, place etc)
  • Banks should complete action as above by March 31, 2015 and keep their websites updated at regular intervals by conducting periodic review of such accounts.
  • Banks should also provide on their websites, the information on the process of claiming the unclaimed deposit/activating the inoperative account and the necessary forms and documents for claiming the same.
  • Banks should also put in place, grievance redressal mechanism for quick resolution of complaints (if any) regarding the unclaimed deposits and inoperative accounts.

Latest Article : RBI’s new UDGAM portal for Unclaimed Bank Deposit Search

How to search for inoperative accounts or unclaimed deposits on Bank Websites?

You might have deposited some money in a fixed deposit and forgotten about it for many years. Another situation can be, you are a legal heir (or nominee) of your Grandfather’s inoperative bank account and you want to know the details about it to reclaim the monies.There could be many such examples or situations like these..so, how to get information about such deposits or accounts?

You may enter keyword ‘inoperative bank account list of (your bank name)” on Google search. You may get search results with a link to go to the bank’s website. Visit that link and provide required details to get information about the inoperative accounts.

Below are some of the Banks’ website links and SEARCH option screen-prints. As of now, some banks are displaying the information about inoperative accounts and few banks are not providing any information on their websites. This is bound to change after Mar 2015.

ICICI Bank unclaimed deposits

To know information on unclaimed money or inoperative accounts of ICICI Bank, click here.

To know information on unclaimed bank deposits or inoperative accounts of Sate Bank of India, click here

SBI Bank unclaimed deposits

How to reclaim the forgotten bank deposits ?

Let us now know the procedure to get back the unclaimed monies lying in inoperative bank accounts?

Once you get the required information about the inoperative accounts (based on the search results), you can leave your name and contact details there itself. Some banks do call back and get in touch with you.

Another approach can be, you can personally visit the bank branch. If you want to reclaim your own money which is in the form of unclaimed deposits or in inoperative accounts then you can approach the bank with the FD receipt / bank account no / passbook. You may have to submit photo identification proofs (KYC docs) along with ‘unclaimed deposit claim form.’ (Unclaimed fixed deposits or savings and current accounts are transferred to a bank’s head office from a branch after 10 years. So, suggest you to check with your bank customer care before visiting the branch in person. )

In-case you are representing your parents/family member as a nominee/legal heir then you may have to submit proof of being the legal heir. You may also have to submit your ID and address proofs to claim the monies.

Claim by non-individual – For claim of non-individual accounts, the customer needs to submit the Claim Form on the Company’s/ firm’s /institution’s letterhead duly signed by the authorized signatories along with their valid identity and address proofs. The customer may also be required to submit such other documents as may be requested by the Bank.

unclaimed investments

Unclaimed money with other financial institutions..Visit my post on “unclaimed investments & how to reclaim money lying with Mutual Funds, Post office, Life Insurance Companies, Companies (Stocks/Bonds) & Income Tax department (unclaimed tax refunds).”

Hope this post is useful to you. If you have forgotten about any of your old investments, RECLAIM now. Do not postpone!

(Image courtesy of jesadaphorn at FreeDigitalPhotos.net) (Figures as of 2012-2013)

  • Shivaram Singnar says:

    Hello sir check my sis account unclaimed deposit money

  • Khalid says:

    Hi sir please serch my mother account
    Bank ok Maharashtra

  • Anil Ganpat Rakte says:

    Name ANIL GANPAT RAKTE Contractor M/S S B Talekari khadki pune 411003 Work place Ammunition Factory khadki pune 411003
    Year2015 to 2017

  • Mahesh pushkarna says:

    We open a sb ac in the name of Pushkarna sandesh Phalodi Visesank. In Rajasthan bank now ICICI Bank at phalodi dist jodhpur. Last 10 years no transection in this ac. Can I issue a cheque for payment on a inoperative ac

  • gopu arjun says:

    my transactions are there in rbi. please transact that amount to my account immedietly to my account with out any delay and do mail to me immedietly and the amount is in rbi. gopu arjun

  • K.R.Desai says:

    Dear Mr. Sreekanth.

    I saw the EPFO facebook site nd on 9th June posting, i t was mentioned that Sadu Sreekanth Reddy is topper in Asst Commissioner of UPSC.
    Is it you??
    , Ifyes my hearty congatulations to you…



  • K.R.Desai says:

    Dear Sreekanth Ji.

    today I am almost through with my PNB problem. reactivation is left out, hopefully action wl be executed in 2-3 days by bank, through RBI.

    Thnaks a lot.

    But one thing is remained, if u can guide and help me, as earlier I informed you that in PF office , they said my EPF account is settled and sent the cheque to PNB, but I have taken the PNB account statement, in which no funds from EPF is credited, secondly I am sure and confident, that I have not applied for settlement. Even if I would have applied and slipped from my memory, as per the information of PF office the funds should have deposited in my account, and it is not there.
    If you can guide me what to do , I will be thankful to you

    • Dear K R Desai,
      Do you have your EPF account number with you?
      I believe that if you have not received the EPF sttlement amount as per your bank records then you may have to either meet the respective Regional PF office commissioner in person or use INOPERATIVE EPF A/C HELPDESK to submit your withdrawal request.

  • K.R.Desai says:

    Dear Sreekanth Ji.

    Thanks for your valuable suggestion. I will have act as suggested by you, in case of irresolution of my issue.
    I am trying to get it resolved in early stages itself.
    In case I need your help, I will knock your door .

    Once again thanks to you for your kind support and guidence.


  • K.R.Desai says:

    Dear Sreekanth Ji.

    I am sorry to disturb you, by putting queries again and again.

    Now the link of PNB you have sent , I had seen it , before consulting you.
    The PDF document of PNB has only mentioned ,what the RBI guidelines say (In serial number 8.2), and there is no link provided to connect to search.

    Once again I apologies for disturbing you .

    Your’s is a very valuable blog, and I am sure, you are helping needy people like me with your knowledge and precious experience. Hats off to you.


    • Dear K R Deasi ji,
      You are not at all disturbing..
      What exactly are the bank staff saying to you?
      If they do not activate your bank account or do not respond to your written complaints, suggest you to kindly approach the bank’s Ombudsman.

  • K.R.Desai says:

    Dear Sreekanth ji.

    The Link provided by you is of Punjab and sindh bank. Mine is Punjab National bank. Are both these bank have same link for non operative accounts?

    Even though I have gone through list of people with the help of the link given by you, but my name is not available in it.

    What will be next step? pls advise

  • K.R.Desai says:

    I have an account in Panjab National Bank (Chhaprola Branch)Ghaziabad (U.P) from 1988. Every month my salary from Hero Motors Factory (Mejestic Auto) was to be deposited there. When I left the Hero Motors company , I have stopped operating the account.

    But now as I tried to settle my PF account, I have been informed by Provident Fund Office that my Provident Fund was settled in December – 2003 and is sent to my PNB Chhaprola branch Account.

    Then I visited PNB Chhaprola brach, there my account information is not at all available, as I dont know the comlete account number , my account last four digits are “SB-8299” are known to me. Please tell me the way to retrieve my account as several Lacs rupees are in my account

    • Dear K R Desai..This is very unfortunate. When did you retire from your job or come out of Hero? Did you apply for PF withdrawal in 2003?

      • K.R.Desai says:

        Dear Srikant Ji.
        I took VRS from Hero Motors in 2001, as this was my salary account, i was operating when i was working, now after that i stopped operating the account from 2002.

        Can you please suggest me the way to retrieve my account. I will be thank full to you.



        • Dear K R Desai Ji,
          That means you have already applied for EPF withdrawal in 2001 itself and the same has been settled in 2003 by the EPFO.
          So, now we need to follow it up with your banker only.
          Kindly visit this link of PNB regarding in-operative accounts : and follow the given instructions.
          In the same page, you can find list of ‘Unclaimed Deposits / Inoperative Accounts’ link.

  • Baljinder singh says:

    Sir, 20 years ago my grandfather took a loan against property from shamrao vithal co operative bank the loan was paid back, but the papers were not claimed, we dont even have the loan documents, when contacted to the bank they said its too late, is there any Chances of getting the papera back legally

  • Ibrahim Mzee Ibrahim says:

    Sir kindly a m looking for unclaimed funds to claim as a next of kin to share as
    partners if nobody applies to claim

  • NILESH says:

    CAN YOU PROVIDE LINK OF ALL BANKS FOR Dormant and Lost Accounts

  • feroz says:

    i have 5 bank a/c holder in saving a/c

    ICICI BANK – PMSBY Personal accident – 2 lakhs
    AXIS BANK – Personal accident – 2 lakhs
    ANDHRA BANK – PMJJBY – 2 lakhs
    KARNATAKA BANK – 10 Lakhs
    Bank of Baroda – term insurance – 10 lakhs

    incase any claim 100 % process all bank

    how do u claim apply bank a/c

  • Alicejayakumari.A says:

    2o years back my mom has died . I’m unmarried still . Can I get my mom’s pension now ? If it is how can I get it.

  • K Crasto says:

    Great job. Very informative website. Have you come across the link for Dormant Accounts for India Post accounts? Cannot seem to find it.

    • Dear Mr Crasto,
      I believe that postal dept do not have online tracking facility for dormant accounts.
      But you can claim them..

      The forgotten post office deposits or accounts earn interest only for two years after the maturity period. Only Savings bank account rate is paid.
      How to Claim – You have to approach the post office where the account was opened. You have to submit the passbook or the post office certificates along with the KYC documents.

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