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Unlocking Forgotten Bank Deposits in India: Your Step-by-Step Guide to the RBI DEA Fund

October 15, 2025
iWills.in Team
A key unlocking a bank vault door, representing access to forgotten funds.

Why Unclaimed Deposits Matter to Your Family

According to the Ministry of Finance, crores of rupees are locked away every year in dormant bank accounts. These are savings, term deposits, recurrences, or even undrawn balances in prepaid cards that haven’t been touched for 10 years or more. When this happens, your money is transferred to the Depositor Education and Awareness (DEA) Fund, managed by the RBI since 2014 under Section 26A of the Banking Regulation Act.

No matter how long ago you or your loved one had these funds, the right to claim them never expires. Your money can provide a much-needed safety net for your family—especially during emergencies or while settling an inheritance.

Source: Your Money, Your Right – Ministry of Finance, Sep 2025

What Bank Deposits Are Covered by DEA Fund?

  • Savings bank accounts
  • Fixed/term/cumulative/recurring deposit accounts
  • Current accounts
  • Cash credit, loan accounts (after appropriation)
  • Outstanding drafts, pay orders, credits, ATM unreconciled balances
  • Prepaid cards (undrawn balances)
  • Rupee proceeds of foreign currency deposits
  • And more, as specified by RBI

All balances include any interest due up to the date they’re moved to the DEA Fund.

RBI’s UDGAM Portal: Find Out Instantly if You or an Heir Have Unclaimed Deposits

The RBI has launched the UDGAM Portal, a one-stop search for unclaimed bank accounts across 30+ banks, covering about 90% of unclaimed deposit value in India.

Did You Know?

The UDGAM portal lets you search across 30+ banks, which hold about 90% of the total unclaimed deposit value in India.

How to Use UDGAM:

  • Enter your/relative’s name and partial address (no PIN required), or specific account details.
  • If a match is found, details will appear along with instructions on the claiming process at the respective bank.

Note: UDGAM is for search. Actual claim submission is handled by banks.

How to Claim Unclaimed Bank Deposits

Step 1: Prepare the Required Documents

  • Proof of identity and address of claimant (valid OVDs: Aadhaar, passport, voter ID, driving license, NPR card, etc.)
  • Account information or details from UDGAM search (if available)
  • For legal heirs: death certificate of account holder, and either succession certificate, legal heir certificate, or a probated will (as required)

Step 2: Submit Your Claim

  • You can visit any branch of the concerned bank—not just the original (home) branch.
  • Banks have a Common Claim Form (Indian Banks’ Association format), so you need not worry about different procedures.

Step 3: Bank Verifies & Pays

After checking your documents, the bank repays you the balance (plus any applicable interest). The bank then gets a refund from the DEA Fund at RBI.

Step 4: Special Cases

If the bank has closed/shut down, approach the Liquidator for settlement.

Is There Any Deadline or Claim Expiry?

No time limit: Customers and legal heirs can claim the unclaimed amount at any time in the future—there is no expiry date.

Grievance Redressal: RBI’s Ombudsman Scheme

If the bank does not resolve your claim within 30 days, or rejects your request, you can file a grievance using the RBI CMS Portal.

Key Facts and Pro Tips (per Ministry of Finance Report)

  • Banks transfer dormant funds with full interest accrued at the time of transfer.
  • Claim process is standardized: Common form, same KYC requirement across banks.
  • No claim charges—It’s your rightful money.
  • Nominees/legal heirs should always update records and retain death/succession documents.
  • There is no direct claim facility through UDGAM or RBI—only via the bank.
  • All banks and the RBI actively encourage early claims—but you will never lose the legal right.

Resource Links

Conclusion

Don’t let your family’s forgotten savings remain unclaimed! With India’s transparent and accessible process, you can secure your rightful funds—even decades later. Bookmark this page, check for dormant accounts, and share this information to help others benefit from what’s rightfully theirs.

Backed by facts from the Ministry of Finance's 2025 financial rights report—your most trusted source on unclaimed assets in India!