If you have a bank account that hasn’t been used for years, your money may still be waiting for you. The Reserve Bank of India (RBI) has clarified that funds
lying in inactive or unclaimed accounts can be recovered, along with any eligible interest. As per RBI rules, bank accounts that have remained inactive for 10 years or more—including savings, current and fixed deposit accounts—are classified as unclaimed. The balances in these accounts are transferred to the RBI’s Depositor Education and Awareness (DEA) Fund. However, ownership of the money does not change, and account holders or their legal heirs can claim it at any time. How to check for unclaimed deposits To make the process easier, the RBI has launched the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal. The online platform allows individuals to search for unclaimed deposits across multiple banks in one place. Users only need basic details such as their name, PAN, or registered mobile number to check if any unclaimed funds exist in their or their family members’ names. What to do if you find unclaimed money If the UDGAM portal shows an unclaimed deposit, the claimant must approach the concerned bank branch. A formal request needs to be submitted along with valid KYC documents such as Aadhaar, voter ID, passport or driving licence. The bank will verify the details and, once approved, release the money to the claimant. Any interest applicable under bank rules will also be paid. Special drives to help customers Between October and December 2025, banks across India are conducting special drives and help camps to assist customers in identifying and recovering unclaimed deposits. These initiatives are aimed at speeding up the process and improving awareness. RBI’s advice to account holders The RBI has urged people to regularly review their bank accounts, update KYC details and inform family members about existing accounts to avoid funds becoming unclaimed in the future. For more information or to begin a search, customers can visit the UDGAM portal at udgam.rbi.org.in.
