Getting unclaimed money back:
3 easy steps to reclaim forgotten money in old bank accounts
Nov 4, 2025
Synopsis
Forgotten money in inactive bank accounts is managed by the RBI's Depositor Education and Awareness Fund. Amounts unclaimed for 10 years are transferred, but depositors can still reclaim them with applicable interest. The UDGAM portal facilitates searching for these unclaimed deposits across multiple banks.
Have you ever thought about what happens to the savings/current account or term deposit accounts of people who die and nobody comes forward to claim their amount? Or what happens to your deposited amount when your account turns inactive for a long time and you make no attempt to reclaim the deposit? Can such an amount be reclaimed, or is it lost forever? Yes, you can, and we will tell you how you can do this.
What happens to forgotten money in old bank accounts?
For such leftover amounts, the Reserve Bank of India (RBI) runs the “Depositor Education and Awareness” (DEA) Fund, which was launched in May 2014.
As per the RBI website, balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as “Unclaimed Deposits”.
The depositors are, however, still entitled to claim the deposits at a later date from the bank(s) where such deposits were held along with interest, as applicable.
One of the easiest ways to track unclaimed deposits is through the RBI's UDGAM portal.
FAQs of unclaimed deposit amounts (as per the RBI website)
Which are the amounts credited to the DEA Fund?
The amounts that are credited to the DEA Fund are the credit balances in any deposit account maintained with banks (commercial banks, co-operative banks), which have not been operated upon for 10 years or more by the depositor. They also include the amount remaining unclaimed for 10 years or more. The amounts for the following accounts are included in the following:
Savings bank deposit accounts
Fixed or term deposit accounts
Cumulative/recurring deposit accounts
Current deposit accounts
Other deposit accounts in any form or with any name
Cash credit accounts
Loan accounts after due appropriation by the banks
Margin money against the issue of the letter of credit/guarantee, etc., or any security deposit
Outstanding telegraphic transfers, mail transfers, demand drafts, pay orders, bankers cheques, sundry deposit accounts, vostro accounts, inter-bank clearing adjustments, unadjusted National Electronic Funds Transfer (NEFT) credit balances and other such transitory accounts, unreconciled credit balances on account of Automated Teller Machine (ATM) transactions, etc.
Undrawn balance amounts remaining in any prepaid card issued by banks but not amounts outstanding against travellers cheques or other similar instruments, which have no maturity period
Rupee proceeds of foreign currency deposits held by banks after the conversion of foreign currency to rupees in accordance with extant foreign exchange regulations; and
Such other amounts as may be specified by the Reserve Bank from time to time.
When are the above specified amounts credited to the DEA Fund?
The banks are required to transfer the credit balance in these accounts to the DEA Fund on the last working day of the month subsequent to the month of completing 10 years of its continuous inoperative or unclaimed status.
For example, the deposits due to be transferred to the DEA Fund (i.e., unclaimed for 10 years) in the month of April shall be transferred to the DEA Fund on the last working day in the month of May.
Can the customer/depositor claim a refund of their unclaimed amounts from the DEA Fund?
Yes, the customer/depositor can claim a refund of their unclaimed amounts from their banks. Based on the request of claim made by the depositor or the legal heir (in case of deceased depositors), the banks shall repay the customer/depositor along with interest (applicable only in case of interest-bearing deposit accounts) and then lodge a claim for a refund from the DEA Fund maintained by the RBI for an equivalent amount paid to the customer/depositor.
Is there a time limit for the customer/depositor for claiming the amount from the DEA Fund?
There is no specific time limit prescribed in the scheme for claiming a refund from the DEA Fund by the depositor.
What is the role of the UDGAM portal in reclaiming the deposits?
UDGAM refers to Unclaimed Deposits-Gateway to Access information, which is an online portal developed by the RBI. The portal facilitates the registered users to search unclaimed deposits/accounts across multiple banks at one place in a centralised manner. The scheme covers 30 banks in India.
However, UDGAM is just a facilitator to reclaim deposits. They can be reclaimed only from the respective bank.
What are the inputs required for searching unclaimed deposits of individuals and non-individuals on the UDGAM portal?
A user is required to register on the portal by providing his name and the mobile number.
How individuals can search unclaimed deposits on the UDGAM portal
For searching unclaimed deposits in the individual category, a user has to provide inputs such as the name of the account holder, the name of the bank (one or more banks can be selected) and any one or more of the five inputs, viz., voter ID number, Permanent Account Number (PAN), driving licence number, passport number and the date of birth of the account holder.
How non-individuals can search unclaimed deposits on the UDGAM portal
For searching unclaimed deposits in the non-individual category, a user has to provide inputs such as the name of the entity and the name of the bank (one or more banks can be selected). Apart from that, he also needs to provide any one or more of the four inputs, viz., the name of the authorised signatory, PAN, Corporate Identification Number (CIN) and the date of incorporation.
What if the account holder doesn't have any of these certificates?
Even if none of the above-mentioned information is available, the user can type the address of the account holder or the entity in place of these inputs for undertaking the search.
3 easy steps to reclaim your forgotten money at banks
1. Visit any branch of your bank, even if it's not your regular branch
2. Submit a form with KYC documents (Aadhaar, passport, voter ID, or driving licence)
3. Receive your money with interest, if any, after verification
To find your unclaimed deposits
Search your bank's website or check RBI's UDGAM portal (https://udgam.rbi.org.in).
Special RBI camps for claiming unclaimed assets
The Reserve Bank of India is also holding nationwide special camps to claim such funds. For that, you can visit special camps being conducted in all districts across the country from October to December 2025.
[The Economic Times]
