Rates & Fees
Pay Credit Card Bill Contact Us
5
Login

Search for your Unclaimed* Deposit
with SBM Bank India, as on October 30, 2024

CAPTCHA Refresh CAPTCHA

*accounts not operated by customer for a period of 10 years and more

Guidelines on Unclaimed Deposits

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.

  • A. Claim Process for Individual Accounts
    • Customers can visit the nearest SBM Bank branch and submit the unclaimed deposit claim form. They must submit such requests along with a valid proof of identity and address in the name of the account holder(s) and details of the deposits/Fixed Deposits.
    • In the absence of the original Fixed Deposit receipt, the customer may contact the SBM Bank branch officials.
  • B. Claim Process by Legal Heirs/Nominees
    • 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.
  • C. Claim Process for Non-Individual Accounts
    • 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.

FAQs – Unclaimed deposits

1. What amounts are credited to the DEA Fund?
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.
2. What is the time limit for claiming unclaimed deposits from the DEA Fund?
3. What is UDGAM?
4. Can I check SBM Bank’s unclaimed deposits via UDGAM?
5. Can I claim my unclaimed bank deposits online via UDGAM?

Unclaimed Deposit– Claim Form

Please click here to access the claim form.

Know More

Guidelines on Inoperative Accounts

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:
    1. financial transaction initiated by or done at the behest of the account holder by the bank/ third party (an illustrative list is given in Annex I) or;
    2. non-financial transaction, or;
    3. KYC updation done in face-to-face physical mode or through digital channels such as internet banking or mobile banking application of the bank.
  • 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.

NEVER SHARE your Card Number, CVV, PIN, OTP, Internet Banking User ID, Password, or URN with anyone, as it can lead to unauthorised access to your account. | DIAL 1930 FOR ONLINE FINANCIAL FRAUD. REPORT ANY CYBERCRIME AT WWW.CYBERCRIME.GOV.IN | Dear Customer, in line with RBI regulation, if there are any changes/updates in the KYC documents you previously submitted with the Bank, please provide the updated documents within 30 days of such changes.