Policy Guidelines on Inoperative Accounts (10 Years & Above)/ Unclaimed Deposits
1. An account shall be classified as an Inoperative Account (10 years and above) / unclaimed deposit if there are no ‘customer-induced transactions’ in the account for a period of over ten years. The credit balance in any deposit account maintained with a bank which has not been operated upon for ten years or more, or any amount remaining unclaimed for ten years or more, is remitted to the Depositor Education and Awareness (DEA) Fund.
2. The customer / survivor / legal heir / authorized signatory, as the case may be, may lodge a claim for the unclaimed deposit.
The claim process is as follows: –
- i) Claim by Self: customer can visit the branch of the bank with the application form (attached) and submit KYC documents. On verification of the same, branch shall convert account into the operative category and allow transactions in the account.
- ii) Claim by Legal Heir / Nominee: For the claim process, the Legal Heir / Nominee can visit the branch of the Bank and submit the required documents and has to comply with the claim settlement process of the bank.
- iii) Claim by Non-Individual: For claim of non-individual accounts, the customer needs to submit the request on the Company’s/ Firm’s / Institution’s letterhead duly signed by the authorized signatories along with their KYC documents. The customer may also be required to submit such other documents as may be requested by the Bank.
Please refer below for the list of deposits, which is under unclaimed deposits. Visit your home branch along with the KYC document for submitting the claim.
| Detail | Link |
| 1. Unclaimed Deposit | Download Link |
| 2. Unclaimed Deposit List Suspense A/c | Download Link |