Outstanding credit amount of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be transferred to the Depositor Education and Awareness (DEA) Fund of RBI.
The Customer / Survivor / Legal Heir/Authorized Signatories, as the case may be, may lodge a claim for the unclaimed deposit to activate the account.
Customer may visit their branch with all necessary KYC documents. If the customer wants to activate and continue operations in the account, the branch will accept the specific request from the customer and reactivate the account by obtaining proper KYC. In case of final claims and closure of account, the branch will accept specific request from the customer to process accordingly.
PROCEDURE (SOP) FOR CLAIM OF UNCLAIMED DEPOSITS (DEA FUND)
1. Search the account by clicking the link.- List of Inoperative Account(DEA Fund)
2. If the account is found, visit the home branch.
3. Submit the following documents to the branch:
a) Application of claiming the funds of the account.- Link - UNCLAIMED DEPOSITS : CLAIM FORM
b). Individual claim by customer-
Customer may visit the home branch with the request letter (in the given format) with Copy of Passbook front page, in case of FD, receipt of the Term Deposit and submit valid proof of identity, address & latest photograph. On verification of the same, branch will make the account operative and allow transactions in the account.
c).Claim by Legal Heir / Nominee
The Legal Heir / Nominee may visit home Branch and submit the required documents (the Death Certificate) and complete the Deceased Claim formalities.
* Customer would be required to comply with the claim settlement process of the Bank.-Link -Policy Document On Deceased Depositors and Missing Persons
d).Claim by Non-Individual
The customer may 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 additional documents as required by the Bank