To apply for the reopening or claim an unclaimed deposit (such as from a deceased account holder or forgotten funds), here’s a general step-by-step process
CLAIMING UNCLAIMED DEPOSIT / FUNDS
Definition: Unclaimed deposits are bank balances not operated for 10 years or more and transferred to the Depositor Education and Awareness (DEA) Fund of RBI.
Steps to Claim:
1. Visit the Bank Branch: o Approach the bank branch where the account was originally held.
2. Submit a Claim Application: o Fill out the bank's Unclaimed Deposit Claim Form given in last page
3. Submit Required Documents: o Identity Proof o Address Proof o Relationship Proof (if claiming on behalf of someone else, e.g., legal heir) o Death Certificate (if account holder is deceased) o Succession Certificate / Will / Legal Heir Certificate (if required)
4. Bank Verification: o Bank will verify the documents and process your request.
5. Settlement: o Once verified, the amount will be credited to your active account or issued via cheque.
• Processing time can vary from a few days to weeks, depending on the documentation.
