Unclaimed Bank Deposits in India 2026: How to Track And Claim
In October 2025, India’s Finance Minister Nirmala Sitharam launched a three-month nationwide ‘Your Money, Your Right’ awareness campaign to help citizens trace and reclaim their forgotten assets, including deposits, dividends, shares, mutual funds, insurance policy claims, and other savings instruments.
Even the RBI had a month ago launched a one-year scheme to facilitate payout of inoperative accounts and unclaimed deposits.
But how big are these unclaimed funds? Where are they transferred and how can you claim these? Let's find out in this blog.
The INR 67,000 Crore Banking Mystery
Rs 67,270 crore. That’s how much money is lying unclaimed in deposits with public and private sector banks, as per govt data revealed in July 20251. Close to Rs 58,400 crore is lying unclaimed with public sector banks, whereas private sector banks are sitting on around Rs 8,600 crore.
Where Are These Unclaimed Deposits Transferred?
Firstly, its important to understand that ‘unclaimed deposits’ refer to the term deposits, savings bank accounts and current accounts which have not been claimed or operated since 10 years2. So, for example, if there was a five year FD with a bank which was opened in the year 2005, matured in 2010, and it did not get claimed for the next 10 years after maturity, i.e. till the year 2020, then that becomes an unclaimed deposit.
These unclaimed deposits are transferred by the respective banks to “Depositor Education and Awareness” (DEA) Fund, which is maintained by the RBI. The depositors (or his/her legal heir/authorized signatories) remain entitled to claim the deposits at a later date from the respective bank wherein the deposit was done.
How To Track Unclaimed Deposits From RBI’s Udgam Portal
The RBI had launched a specific portal ‘UDGAM’ (Unclaimed Deposits-Gateway to Access inforMation) in 2023 to facilitate the registered users to search unclaimed deposits/accounts across multiple banks at one place in a centralised manner5.
As per the RBI, once you register as a user by providing your name and mobile number on the UDGAM portal, you can avail information as follows:
- Individuals: Registered users need to provide inputs such as name of the account holder, name of the bank (one or more banks can be selected) and any one or more of the five inputs- Permanent Account Number (PAN), Driving License Number, Voter ID Number, Passport Number and Date of Birth of the account holder.
- Non-Individuals: Registered users need to provide inputs such as name of the entity, name of the bank (one or more banks can be selected) and any one or more of the four inputs such as: Name of the authorised signatory, PAN, Corporate Identification Number (CIN) and Date of Incorporation.
Even if none of the above-mentioned information is available, registered users can fill in the address of the account holder or the entity (as the case may be), in place of these inputs mentioned above for undertaking the search.
- Note that, through the UDGAM portal you can only search for your unclaimed deposit. Once you fetch the details, the unclaimed deposits can be claimed only from the respective bank.
- Once you get the unclaimed deposit’s details, you can claim it by contacting the respective bank, filling up the form, and submitting KYC documents and other legal documents, as required.
- Moreover, the UDGAM portal currently has a tie up with 30 banks, with more banks expected to be onboarded soon, as per RBI.
Finance Ministry’s “Your Money, Your Right” Scheme
The Finance Ministry, in co-ordination with RBI, IRDAI, SEBI and IEPFA (Investor Education and Protection Fund Authority) has launched a three month nationwide awareness campaign (October–December 2025) on unclaimed assets in the financial sector3.
“Unclaimed financial assets, including insurance policy claims, bank deposits, dividends, shares, and mutual fund proceeds, often remain unclaimed due to lack of awareness or outdated account details. During the campaign, the citizens will be provided on-the-spot guidance on how to search for their unclaimed assets, update records and complete claim procedures. Digital tools and step-by-step demonstrations will also be showcased.
The Government of India is committed to ensure that every rupee saved by citizens can be rightfully claimed by them, or by their legal heirs and nominees. The campaign will encourage people to participate actively, spread awareness, and strengthen financial inclusion in every household.
It seeks to empower citizens by providing clear information on how to trace and claim their rightful money, supported by Standard Operating Procedures (SOPs) and Frequently Asked Questions (FAQs) developed by the respective fund regulators, to make the process simple and transparent.
A special financial inclusion exhibition will also be organized featuring stalls from banks, insurance companies, mutual funds, and pension institutions”, the Ministry of Finance’s press release stated.
RBI’s One Year Scheme For Banks And Customers
On September 30th 2025, the Reserve Bank of India (RBI) had announced a scheme for ‘Facilitating Accelerated Payout – Inoperative Accounts and Unclaimed Deposits’4. The one-year tenure scheme will end on September 30, 2026, and aims to encourage everyone to activate their inactive accounts and claim their unclaimed deposits from the banks, if any.
Moreover, through this scheme, the RBI is also encouraging the banks to actively pursue customers/depositors to reactivate their inoperative accounts and claim their unclaimed amounts lying with the DEA (Depositor Education and Awareness) Fund. The entire scheme is aimed to reduce both the stock of existing unclaimed deposits as well as the fresh accretion of flows to the fund.
Under this one-year long scheme, banks will get 5% of the amount or Rs 5,000, whichever is less, for an account which is inoperative for up to 4 years, and the same will go up to 7.5% or Rs 25,000, whichever is less, in case of an account that is inoperative for over ten years. The RBI has asked banks to submit their claim for payouts on a quarterly basis in the prescribed format, within one month at the end of every quarter.
Conclusion
Unclaimed deposits represent a significant portion of idle savings that can be reclaimed by rightful owners with the help of RBI and government initiatives. With tools like the UDGAM portal and campaigns such as Your Money, Your Right, reclaiming your forgotten funds is now simpler and faster than ever.
While you track and recover your unclaimed savings, ensure your future money is working efficiently. Login to Grip Invest — India’s one-stop destination for curated fixed-income returns.
FAQs On Unclaimed Deposits
1. What are unclaimed bank deposits in India?
Unclaimed deposits are savings, current, or fixed deposits that haven’t been operated or claimed for over 10 years. These funds are later transferred to the RBI’s Depositor Education and Awareness (DEA) Fund.
2. How can I check if I have unclaimed deposits?
You can search for unclaimed deposits through RBI’s UDGAM portal by providing details like your name, bank name, PAN, or date of birth.
3. What is the Finance Ministry’s ‘Your Money, Your Right’ campaign?
Launched in October 2025, this three-month nationwide campaign helps citizens trace and reclaim forgotten assets, including deposits, dividends, mutual funds, and insurance proceeds.
4. Can I still claim my unclaimed deposit after it’s transferred to RBI’s DEA Fund?
Yes, depositors or their legal heirs can claim their unclaimed funds anytime by approaching the bank where the deposit was originally made.
References:
1. Money Control, accessed from: https://www.moneycontrol.com/news/business/rbi-launches-drive-to-return-rs-67-270-crore-in-unclaimed-bank-deposits-13572911.html
2. RBI, accessed from: https://tinyurl.com/mthtv7f4
3. PIB, accessed from: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2173503
4. News On Air, accessed from: https://www.newsonair.gov.in/rbi-launches-one-year-scheme-to-facilitate-payout-of-inoperative-accounts-and-unclaimed-deposits/
5. Udgam, accessed from: https://udgam.rbi.org.in/unclaimed-deposits/
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