Have unclaimed bank deposits? Here’s how to find it using UDGAM portal

• The Reserve Bank of India has launched a centralised portal to find unclaimed deposits.
• The UDGAM portal allows citizens to find unclaimed deposits across various banks.
• Here’s how you can find if there are any unclaimed deposits in your name.

The Reserve Bank of India (RBI) has launched a centralised portal, UDGAM (Unclaimed Deposits – Gateway to Access information) to help customers find unclaimed deposits in bank accounts.

The portal has been launched to help citizens easily find their unclaimed deposits across multiple banks, without having to contact each bank separately. At present, the bank has data from seven banks and the rest of the banks are expected to be added by October 15.

“The launch of the web portal will aid users to identify their unclaimed deposits/accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks”, the Reserve Bank of India said in its statement.

What is an unclaimed deposit?

An unclaimed deposit is a deposit where there has been no activity for ten years or longer. These deposits are transferred to the Depositor Education and Awareness fund maintained by the central bank and can be claimed by the respective depositor along with the applicable interest.

According to the RBI, as of February 2023, the central bank had unclaimed deposits worth over INR 35,000 crore from 10.24 crore citizens.

How to use the UDGAM portal to find unclaimed deposits

You can use the UDGAM portal to find your unclaimed deposits by following the below steps –

Sign up and login

• Go to the new UDGAM portal by clicking here.
• Create an account by entering details such as your phone number, name password and the captcha.
• Enter the OTP that you receive and click on “Register”.
• Now, login to your account by clicking here.

Find your unclaimed deposits

• Now, enter the name of the account holder.
• Then, click on the dropdown under “Select banks” and click on “All”.
• Now, enter one of the following details – PAN, Voter ID, Driving licence number, Passport or Date of birth.
• Then, click on “Search”.

The portal will show the unclaimed deposits, if any, on your name.

How to claim unclaimed deposits

Once you get an unclaimed deposit in your name, you can file an application with the relevant bank. The portal will take you to the application page of the respective bank.

Banks available on the portal

At present, the following banks are available on the portal –

• Central Bank of India
• Citi Bank
• DBS Bank
• Dhanlaxmi Bank
• Punjab National Bank
• South Indian Bank
• State Bank of India

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