{"id":24768,"date":"2023-09-20T12:38:23","date_gmt":"2023-09-20T07:08:23","guid":{"rendered":"https:\/\/blog.researchandranking.com\/?p=24768"},"modified":"2023-09-23T16:32:23","modified_gmt":"2023-09-23T11:02:23","slug":"how-to-find-claim-unclaimed-deposits-money-with-udgam","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/how-to-find-claim-unclaimed-deposits-money-with-udgam\/","title":{"rendered":"How To Claim Unclaimed Deposits With UDGAM?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><div class=\"wp-block-post-date\"><time datetime=\"2023-09-20T12:38:23+05:30\">September 20, 2023<\/time><\/div>\n\n\n<p>Have you ever wondered how to claim unclaimed money in any bank account you have forgotten or lost track of? If yes, then you are not alone. <\/p>\n\n\n\n<p>According to the<a href=\"https:\/\/www.equentis.com\/blog\/rbi-maintains-repo-rate\/\"> Reserve Bank of India (RBI)<\/a> data for 2021, 31.08 crores are lying unclaimed in various <a href=\"https:\/\/www.equentis.com\/blog\/what-are-liquid-assets\/\">bank accounts<\/a> across the country. Data suggests the Number of Accounts With \u2018Unclaimed Deposits\u2019 in \u2018Public Sector Banks\u2019 Crosses 10 Crore. <\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-67.png\" alt=\"\" class=\"wp-image-24769\" style=\"width:564px;height:348px\" width=\"564\" height=\"348\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-67.png 975w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-67-300x185.png 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-67-768x474.png 768w\" sizes=\"(max-width: 564px) 100vw, 564px\" \/><figcaption class=\"wp-element-caption\">Source: Factly. in<\/figcaption><\/figure>\n\n\n\n<p>But there&#8217;s no need to overthink how to claim unclaimed deposits when there&#8217;s an easy and fast way to find out about your unclaimed deposits right now. The Reserve Bank of India has recently launched a centralized web portal called UDGAM (Unclaimed Deposits &#8211; Gateway to Access information) for the public to search their unclaimed deposits across multiple banks in one place.<\/p>\n\n\n\n<p>In this article, we will go over all you need to know about how to claim unclaimed deposits, kicking off with the basics. We will also go through how to use the RBI website efficiently and provide some ideas and suggestions to help you keep track of your deposits in the future. So, let&#8217;s get this party started!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What are Unclaimed Deposits?<\/h2>\n\n\n\n<p>Have you ever opened a bank account just to forget about it? Or have you ever deposited money in a bank and not claimed it for years? If you answered yes, how to claim these unclaimed deposits is more important to you than to anybody else.<\/p>\n\n\n\n<p>Unclaimed deposits are the money lying idle in bank accounts that have not been operated or claimed by the customers for a long time. According to the RBI, a deposit is classified as \u2018unclaimed\u2019 if the customer hasn\u2019t made any transaction using that account for at least 10 years. These deposits may include savings accounts, fixed deposits, recurring deposits, current accounts, or any other type of deposit account.<\/p>\n\n\n\n<p>You may wonder why people leave their money unclaimed in banks. Now, there could be various reasons for this, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The customer may have passed away without informing the nominee or legal heir about the account.<\/li>\n\n\n\n<li>The customer may have changed their address, phone number, email, or other contact details without updating the bank.<\/li>\n\n\n\n<li>The customer may have lost or misplaced their passbook, checkbook, ATM card, or other documents related to the account.<\/li>\n\n\n\n<li>The customer may have multiple accounts in different banks and may not remember all of them.<\/li>\n\n\n\n<li>The customer may have no need or interest in using the account.<\/li>\n<\/ul>\n\n\n\n<p>Whatever the reason, unclaimed deposits are a massive loss for both the customers and the banks. The deposits lying unclaimed after the expiry of 3 months after 10 years must be transferred to the RBI\u2019s Depositor Education and Awareness (DEA) Fund monthly.<\/p>\n\n\n\n<p>The balances in the DEA Funds may be used by the RBI for depositor interest or other purposes connected to depositor interest as authorized by the RBI. The customers lose their hard-earned money and the interest on it. The banks lose their potential business and goodwill. Moreover, unclaimed deposits are also vulnerable to fraud and misuse by unscrupulous elements.<\/p>\n\n\n\n<p>Therefore, the customers and the banks need to track and know more about how to claim unclaimed deposits in the Bank.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Overview of the UDGAM Portal<\/h2>\n\n\n\n<p>The number of unclaimed deposits transferred to the RBI has decreased from 48,262 crores in March 2022 (in FY 2021-22) to Rs. 35,012 crores in February 2023 (in FY 2022-23) as a result of the RBI&#8217;s proactive activities to raise awareness about &#8216;how to claim unclaimed deposits.&#8217;<\/p>\n\n\n\n<p>Among these initiatives to help customers learn how to claim unclaimed deposits, the RBI launched UDGAM (Unclaimed Deposits &#8211; Gateway to Access Information) on August 17, 2023.<\/p>\n\n\n\n<p>UDGAM is a centralized web portal accessible to the public to search their unclaimed deposits across multiple banks in one place. Currently, only seven banks are included in the UDGAM site; however, this service will be extended to other Banks by October 15, 2023.<\/p>\n\n\n\n<p>The seven Banks in the list include-<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li>State Bank of India (SBI)<\/li>\n\n\n\n<li>Punjab National Bank (PNB)<\/li>\n\n\n\n<li><a href=\"https:\/\/www.equentis.com\/blog\/why-startup-investments-are-booming-a-startup-investors-guide\/\">Central Bank<\/a> of India (CBI)<\/li>\n\n\n\n<li>South Indian Bank Ltd<\/li>\n\n\n\n<li>Dhanlaxmi Bank Ltd<\/li>\n\n\n\n<li>DBS Bank India Ltd<\/li>\n\n\n\n<li>Citibank<\/li>\n<\/ol>\n\n\n\n<p>The \u201cunclaimed deposits\u201d that are covered under the umbrella of UDGAM include-<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li>Savings Account<\/li>\n\n\n\n<li><a href=\"https:\/\/www.equentis.com\/blog\/is-a-current-account-deficit-worry-for-india\/\">Current Account<\/a><\/li>\n\n\n\n<li>Fixed Deposits<\/li>\n\n\n\n<li>Credit account<\/li>\n\n\n\n<li>Loan account<\/li>\n\n\n\n<li>ATM Balances<\/li>\n\n\n\n<li>Unpaid Demand Drafts\/ Banker\u2019s Cheques<\/li>\n\n\n\n<li>Margin Money issued against Letter of Guarantee<\/li>\n\n\n\n<li>Unadjusted NEFT Credit Balances<\/li>\n<\/ol>\n\n\n\n<p>You may simply identify and track your unclaimed deposits on the UGDAM site by entering the appropriate user credentials. UDGAM employs industry-leading AI technology to enhance the user experience.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to Find Unclaimed Deposits from the UDGAM Portal?<\/h2>\n\n\n\n<p>If you&#8217;ve learned what constitutes an unclaimed deposit but are still unsure how to claim unclaimed deposits, follow the steps below-<\/p>\n\n\n\n<p><strong>Step 1:<\/strong> Register as a user on the UDGAM portal. Put in your-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Name<\/li>\n\n\n\n<li>Date of birth<\/li>\n\n\n\n<li>&nbsp;PAN<\/li>\n\n\n\n<li>Aadhaar<\/li>\n\n\n\n<li>Mobile number<\/li>\n\n\n\n<li>Email, etc.<\/li>\n<\/ul>\n\n\n\n<p>Then, create a password. You will also receive an OTP on your mobile number and email for verification.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-68.png\" alt=\"\" class=\"wp-image-24770\" style=\"width:652px;height:311px\" width=\"652\" height=\"311\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-68.png 975w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-68-300x143.png 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-68-768x366.png 768w\" sizes=\"(max-width: 652px) 100vw, 652px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-69.png\" alt=\"\" class=\"wp-image-24771\" style=\"width:631px;height:310px\" width=\"631\" height=\"310\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-69.png 975w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-69-300x147.png 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-69-768x377.png 768w\" sizes=\"(max-width: 631px) 100vw, 631px\" \/><\/figure>\n\n\n\n<p><strong>Step 2:<\/strong> Log in to the UDGAM portal using your registered mobile number, email, and password. You will see a dashboard with various options: search, view, edit, download, etc.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-70.png\" alt=\"\" class=\"wp-image-24772\" style=\"width:571px;height:321px\" width=\"571\" height=\"321\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-70.png 975w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-70-300x169.png 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/09\/image-70-768x432.png 768w\" sizes=\"(max-width: 571px) 100vw, 571px\" \/><\/figure>\n\n\n\n<p><strong>Step 3:<\/strong> Click on the search option and enter your search criteria, such as name, date of birth, PAN, Aadhaar, etc. You can also select the bank or branch names from the drop-down list if you know them.<\/p>\n\n\n\n<p>You can also use the advanced search option to refine your search by entering more details such as account type, account number, deposit amount, etc.<\/p>\n\n\n\n<p><strong>Step 4: <\/strong>Click on the search button and wait for the results. The results will show you a list of all the banks where you may have unclaimed deposits and the account details such as account number, account type, deposit amount, last transaction date, etc.<\/p>\n\n\n\n<p><strong>Step 5:<\/strong> Verify the results and select the accounts that belong to you. You can also download or print the results for your reference.<\/p>\n\n\n\n<p><strong>Step 6:<\/strong> Contact the respective banks where you have unclaimed deposits and follow their procedures to claim your deposits or make your accounts operative again. You may need to provide documents such as identity proof, address proof, passbook, chequebook, etc., to prove your ownership of the accounts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tips and Suggestions to Avoid Losing Track of Deposits in the Future<\/h2>\n\n\n\n<p>We have given some efficient ways with which you will never have to worry about &#8220;how to claim unclaimed deposits&#8221; because all of your accounts will be sorted and organized-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Update your contact details with your bank regularly. Ensure your bank has your address, phone number, email, and other contact information. This will help you receive timely notifications and alerts from your bank about your account activity and balance.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Check your bank statements regularly. You can access your bank statements online or request them from your bank branch. Review your statements carefully and look for any errors or discrepancies. If you find any, report them to your bank immediately.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Consolidate your accounts if possible. If you have multiple accounts in different banks, you may consider consolidating them into one or a few accounts. This will help you reduce the hassle of managing multiple accounts and avoid losing track of any of them.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Use your accounts regularly. Make some transactions using your accounts at least once a year. This will help you keep your accounts active and prevent them from becoming dormant or unclaimed.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Nominate a beneficiary for your accounts. You can nominate someone who will inherit your deposits in case of death. This will help you ensure that your money reaches the right person and does not remain unclaimed in the bank.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Key Takeaways<\/h3>\n\n\n\n<p>You can quickly claim unclaimed deposits if you have money in bank accounts you don&#8217;t remember or use. Just log in to the UDGAM site, a web platform by the RBI that allows you to search for unclaimed deposits for various banks.<\/p>\n\n\n\n<p>But be careful; the banks may also have different rules and processes to settle the claims. You may also face some legal issues or disputes if there are multiple claimants for the same deposit.<\/p>\n\n\n\n<p>The good news is that you can avoid these hassles by regularly updating your contact details with your bank, checking your bank statements, consolidating your accounts, using your accounts, and nominating a beneficiary. You should also use the UDGAM portal periodically to search and claim your unclaimed deposits.<\/p>\n\n\n\n<p>We hope this article has helped you understand how to claim your unclaimed deposits and why it is essential.<\/p>\n\n\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"9185\" class=\"elementor elementor-9185\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e92a158 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e92a158\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-65b41f6\" data-id=\"65b41f6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a613ee7 elementor-widget elementor-widget-shortcode\" data-id=\"a613ee7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\t\t<div data-elementor-type=\"section\" data-elementor-id=\"6844\" class=\"elementor elementor-6844\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2efdbd0d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2efdbd0d\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-783deaaa\" data-id=\"783deaaa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c60a2cc elementor-widget elementor-widget-heading\" data-id=\"c60a2cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Related investing topics<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3e3de9dd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e3de9dd\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-40fd5db7\" data-id=\"40fd5db7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-757ca8cb ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"757ca8cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/how-to-invest-in-share-market-guide\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    How to Invest in Share Market?                <\/h3>\n                        \t\t  \t<p>Considering the volatility, investing in stock markets is both an art and science.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-601073c\" data-id=\"601073c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8b38507 ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"8b38507\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/looking-for-one-multi-bagger-today-here-are-54-that-multiplied-investors-wealth\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    5 Best Places To Live After Retirement In India                <\/h3>\n                        \t\t  \t<p>While some retired people set sail on voyages worldwide, others look forward to spending their time in relaxation and comfort.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-7e5723c\" data-id=\"7e5723c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-551526b ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"551526b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/90-percent-lose-money-in-stocks\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    90% People Lose Money in Stocks?                <\/h3>\n                        \t\t  \t<p>Isn't it shocking? But it is a fact. There are countless reasons why investors lose money in stock markets.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-6dc0c61\" data-id=\"6dc0c61\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb5233e ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"eb5233e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/is-long-term-investing-always-safe\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    Is Long Term Investing Always Safe?                <\/h3>\n                        \t\t  \t<p>Let\u2019s understand what long-term means before we explain why Long Term Investing may not always be safe.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n\n\n\n<h2 class=\"wp-block-heading\">FAQs<\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1695187201448\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What is the Depositor Education and Awareness (DEA) Fund?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The RBI creates the DEA Fund from the unclaimed deposits the banks transfer monthly. The fund is used for promoting depositors\u2019 interest and awareness.<br \/>If a claim is made on the deposit after the stipulated period of 10 years, the banks may settle and pay back the funds to the depositor and later claim it back from the DEA Fund.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1695187215969\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What are the legal issues or disputes <\/strong>that <strong>arise while claiming unclaimed deposits?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The legal issues or disputes that may arise while claiming unclaimed deposits are related to the claim&#8217;s ownership, identity, or validity. For example, multiple claimants for the same deposit may exist, such as nominees, legal heirs, joint holders, etc.<br \/>There may also be cases of fraud or forgery of documents or signatures. In such cases, the banks may require additional proof or verification before settling the claims.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1695187228711\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What are unclaimed deposits?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Unclaimed deposits are the money lying idle in bank accounts that have not been operated or claimed by the customers for a long time. According to the RBI, a deposit is classified as \u2018unclaimed\u2019 if the customer hasn\u2019t made any transaction using that account for at least 10 years.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1695187239894\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>How to claim unclaimed deposits<\/strong> <strong>from the UDGAM portal?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>To claim unclaimed deposits from the UDGAM portal, you need to verify the results and select the accounts that belong to you. You can then contact the banks where you have unclaimed deposits and follow their procedures to claim your deposits or make your accounts operative again.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><strong>Read more: &nbsp;<a href=\"https:\/\/timesofindia.indiatimes.com\/blogs\/voices\/long-term-investing-helps-create-life-changing-wealth\" target=\"_blank\" rel=\"noreferrer noopener\">How Long-term investing helps create life-changing wealth \u2013 TOI<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you ever wondered how to claim unclaimed money in any bank account you have forgotten or lost track of? If yes, then you are not alone. <\/p>\n","protected":false},"author":5,"featured_media":24773,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[1391],"class_list":["post-24768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-how-to-claim-unclaimed-deposits"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/24768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=24768"}],"version-history":[{"count":0,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/24768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/24773"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=24768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=24768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=24768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}