Here’s How To Withdraw Unclaimed Bank Deposits

Most people have multiple bank accounts, starting from the one their parents opened during their school or college days and new salary accounts with each new job. Often, the deposits in these accounts get stuck due to issues of inoperability.

According to the Reserve Bank of India (RBI) rules, an account is classified as unclaimed if it remains dormant for 10 years or if a fixed deposit is not claimed within 10 years of its maturity. As on January 28, 2026, unclaimed deposits amount to around Rs 72,454 crore, including funds in public, private, and foreign banks.

This amount is held in the RBI’s Depositor Education and Awareness (DEA) Fund, which was set up in 2014 to safeguard unclaimed deposits that could be claimed later.

In 2023, RBI rolled out the Unclaimed Deposits-Gateway to Access inforMation (UDGAM) portal, which allows users to search for their older accounts across multiple banks through a single search facility, making the process of claiming deposits simpler.

Steps To Reclaim Your Unclaimed Deposits

1. Register on the UDGAM portal with your name and mobile number. 

2. Search for the account holder’s name, bank, and any ID like Permanent Account Number (PAN), driver’s licence, voter ID, or passport.

3. If the search shows an unclaimed deposit, visit the bank where the account was held to claim the deposits.

4. Most banks will ask you to fill out the required form and submit your Know Your Customer (KYC) details and reactivate the account.

5. After verification, the bank will transfer the unclaimed deposit to your registered bank account. This is an in-person process.

Things To Keep In Mind

The UDGAM portal only allows you to search for unclaimed deposits. You cannot claim the deposits from the portal.

At present, about 30 banks are part of the portal. Ensure your bank is registered before searching. 

The portal covers all unclaimed deposits/accounts that are part of the DEA Fund.

No fees is charged by the government or banks for filing a claim on deposits transferred to the DEA Fund.

There is no time limit set for customers or their legal heirs to receive their unclaimed deposits.