Search for your Unclaimed* Deposit
with SBM Bank India, as on April 30, 2025
As per extant RBI Instructions, the credit balance in any deposit account maintained with banks, which have not been operated by customer for ten years or more, or any amount remaining unclaimed for ten years or more, as mentioned in paragraph 3(iii) of the “Depositor Education and Awareness” (DEA) Fund Scheme, 2014, are required to be transferred by banks to DEA Fund maintained by the Reserve Bank of India, which are classified as Unclaimed Deposits.
In the case of a deceased bank customer, the legal heir/nominee can visit the nearest bank branch and submit the documents as advised by the branch while complying with the legal requirements.
For the claim of non-individual accounts, the customer needs to submit the claim form on the Company’s/firm’s/ institution’s letterhead, duly signed by the authorised signatories along with their valid identity and address proofs. The customer may also be required to submit other documents as may be requested by the Bank.
Note: Please carry original documents for verification.
The amounts credited to the DEA Fund include amounts from Savings Accounts, Current Accounts, Fixed Deposits, Recurring Deposits, Cash Credit Accounts, Rupee Proceeds of Foreign Currency Deposits and other amounts specified by RBI.
There is no specific time limit for claiming the unclaimed deposits from the DEA Fund. However, RBI encourages users, legal heirs and nominees to claim such amounts as soon as they are aware of the unclaimed deposit accounts.
UDGAM, short for Unclaimed Deposits-Gateway to Access Information, is an RBI-operated portal where bank users can search for bank deposits that have been unclaimed for ten years or more.
As of 4th March 2024, 30 banks are part of the UDGAM portal. SBM Bank is yet to be added to the list.
Click here to check the unclaimed deposits at SBM Bank.
No, you cannot. The UDGAM portal only allows you to search for unclaimed deposits across multiple banks and provides information on the claim process of each bank. You, as the account holder, or the legal heir/nominee must visit the bank branch to claim the deposits.
Bank undertakes annual review of savings/current accounts, where there are no customer induced transactions for more than a year is treated as “Inactive”. An account shall be classified as “Inoperative” if there is no customer induced transaction for a period of 24 months. Customers are advised to keep their account active by performing regular transactions and continuing to access their account through any of our channels: Online, ATM or Branch.
Definition:
Bank induced transaction- Transactions in the account initiated by the bank as per its extant policy such as charges, fees, interest payments, penalties, taxes (an illustrative list is given in Annex I).
Customer induced transaction- The transactions in account which are in the nature of:
Financial transaction- A monetary transaction in the savings/ current account of the customer with the bank either by way of a credit or debit transaction.
Non-financial transaction- An enquiry or request by the customer through internet banking or mobile banking application of the bank which requires two-factor authentication (2FA) and leaves a trail for audit purposes or successful log-in to the internet banking/ mobile banking application. Illustratively, this includes transactions such as change in standing instruction, issue of cheque book, debit card issuance, etc.
Customers can reactivate their inoperative account by submitting account activation form along-with KYC documents. The Bank may choose to close the inactive/inoperative accounts with zero or low balances, as part of the periodical review.
