Money is lying in the bank in your name, and you didn't even know it! Learn how to claim it.

Sometimes, old bank accounts belonging to you or someone you know become inactive over time. Learn these simple steps to withdraw money from such accounts.

Unclaimed bank deposits: Sometimes, old bank accounts belonging to you or someone you know become inactive over time. People ignore this, and their money remains in the account. If you or someone you know has unclaimed money in the bank, you no longer need to worry about withdrawing it.

The Reserve Bank of India (RBI) offers full assistance in this situation. You or your legal heir can get the unclaimed money back by following a few simple steps.

What does the RBI say?

According to the RBI, crores of rupees lie unclaimed across the country. If there has been no financial transaction in an account for 2 years or the bank account has been inactive for 10 years, it can be considered fraud. In such a situation, the RBI transfers these unclaimed deposits to the DEA (Depositor Education and Awareness) Fund.

However, your money remains completely safe. You or any of your legal heirs can claim this money. The RBI has not set any claim limit. This means that if you receive information about money held in an unclaimed account, and you are its legal heir, you can claim it.

Unclaimed Accounts and Claim Information

If you want to know whether you or your family's money is lying unclaimed in the bank, you need to visit the RBI's official website. Search for your name or your family member's name on the website. You will receive complete information. Additionally, special camps on unclaimed assets are being organized in various districts across the country from October to December, where you can obtain information directly.

You can visit any bank branch to claim your unclaimed money, fill out a claim form, and submit KYC documents such as Aadhaar, Voter ID, or Passport. Also, if you're claiming as an heir, submit legal documents such as a death certificate. After verification, the bank will disburse the money to you from the RBI's DEA fund. There's no additional fee for this.