Most families know about the bank accounts a parent held at the branch down the road. But what about an account opened 25 years ago in another city? A salary account from a job the person left long ago? A fixed deposit that matured and was never collected?

When a bank account has no activity for ten years, the bank moves the balance to a government fund. The family may never even know this account existed.

The Reserve Bank of India (RBI), created a tool to solve this problem. It is called the UDGAM portal. UDGAM stands for Unclaimed Deposits Gateway to Access Information. It lets you search for forgotten bank deposits across many banks at once, using just the name of the person who passed away.

This blog explains what UDGAM is, how to use it, what happens to unused bank accounts in India, and how to collect the money once you find it.

Key Highlights

• UDGAM stands for Unclaimed Deposits Gateway to Access Information. It is a free portal run by the RBI to help families find forgotten bank deposits

• RBI stands for Reserve Bank of India. It is the central bank that oversees all banks in India under the Reserve Bank of India Act, 1934

• A bank account becomes unclaimed when the account holder has not done anything with it for ten years. The bank then moves the balance to a fund called the DEA Fund

• DEA stands for Depositor Education and Awareness. The DEA Fund is run by the RBI under the Banking Regulation Act, 1949

• The money is not taken away. The family can still collect it from the original bank at any time, even years later

• UDGAM only helps you find the account. You collect the money by going to the bank directly

• A nominee registered on the account needs very few documents to collect. A legal heir needs a legal heir certificate in most cases

What Is the RBI UDGAM Portal and How Does It Help Families?

The UDGAM portal is a tool on the internet built by the RBI. You type in the name of the person who passed away, and the portal searches across many banks at once to see if any unclaimed deposits exist in that name.

Before UDGAM was launched in August 2023, a family had to write separately to every bank they thought might hold an account. That took weeks and often led nowhere. 

UDGAM makes the process faster and simpler. Anyone can register and use the portal for free.

The most important thing to understand: UDGAM only finds the account. It does not pay out the money. Once you find a deposit, you go to that bank directly and collect the money.

What Happens to a Bank Account Nobody Uses for Ten Years?

Every bank account needs at least one action by the account holder every ten years. This could be a withdrawal, a transfer, a deposit, or even logging in to check the balance online. Something the account holder chose to do themselves.

If nothing like this happens for ten years, the bank marks the account as unclaimed. The balance is then moved to the DEA Fund.

DEA stands for Depositor Education and Awareness. The DEA Fund is maintained by the RBI under the Banking Regulation Act, 1949. It acts as a safe place for money that has not been collected.

Here is the part most families do not know: the money is not taken away. It does not disappear. The family can still walk into the original bank and collect it, even if twenty years have passed. The bank keeps the record and pays back the full amount with interest when a proper claim is made.

How to Search for a Deceased Person's Unclaimed Deposits on the UDGAM Portal

Here are the simple steps to follow if you need to search for a deceased person's unclaimed deposits on the UDGAM portal.

Step 1: Go to the UDGAM portal. Find it by searching for UDGAM RBI on any browser. The portal is on the RBI website. Registration is free and takes a few minutes.

Step 2: Register with your own mobile number. Log in once registered. The account is in your name, not the deceased person's name.

Step 3: Enter the name of the person who passed away. Add more details if you have them, such as PAN, which stands for Permanent Account Number, or their date of birth, their address, branch details, etc. More details give more accurate results.

Step 4: Review the results. The portal shows a list of banks where unclaimed deposits exist in that name. It does not show how much money is there. It only tells you which bank holds a deposit.

Step 5: Note each bank from the results. Your next step is to contact or visit each of those banks directly to collect the money.

Who Can Collect Unclaimed Deposits of a Deceased Person From a Bank?

Two types of people can collect unclaimed deposits: the nominee and the legal heir.

A nominee is the person the account holder named on the account form to collect the money after their death. If a nominee was registered, the bank hands over the balance to that person quickly. The nominee brings the death certificate and their own identity proof. The bank cannot ask for a court document or any other certificate when a valid nominee exists.

A legal heir is a family member who has the right to inherit the money under Indian law. For Hindus, Sikhs, Jains, and Buddhists, the Hindu Succession Act, 1956 applies. The spouse, children, and mother come first. For Christians and Parsis, the Indian Succession Act, 1925 applies. For Muslims, Muslim Personal Law (Shariat) Application Act, 1937 governs.

If the person who passed away left a Will, the people named in the Will to receive the money are the rightful owners. AasaanWill's blog on the legal dynamics of nominee vs legal heir explains the difference between the person who collects the money and the person who truly owns it.

One point worth knowing: a nominee collects the money but does not own it. They hold it on behalf of the legal heirs and must pass it over as the Will or the law says.

How to Collect Unclaimed Bank Deposits After Finding Them on the UDGAM Portal

Once UDGAM shows you which bank holds the deposit, go to that bank. The collection happens at the bank, not through the UDGAM portal.

Under the RBI Settlement of Claims Directions, 2025, banks must complete the process within 15 days of receiving all the required documents.

If you are the nominee: bring the death certificate, your identity proof, and the bank's claim form. The bank cannot ask for court papers when a valid nominee exists.

If you are a legal heir and no nominee was named: bring the death certificate, your identity proof, a legal heir certificate from the local revenue office, and a written letter from other heirs agreeing to your claim. For very large amounts or when heirs disagree, the bank may ask for a succession certificate. A succession certificate is a document from a civil court that confirms who has the right to collect the money.

Confirm the exact list of documents with the bank before visiting. Each bank has its own forms and may ask for slightly different things.

AasaanWill's blog on what happens to your bank accounts when you die explains the full process from the bank's side when a customer passes away.

What Documents Are Needed to Collect Unclaimed Bank Deposits of a Deceased Person?

The table below shows the standard set of documents required to collect unclaimed bank deposits. Check with your specific bank before visiting, as the exact list can vary.

What to Do If the Bank Is Slow to Process an Unclaimed Deposit Claim

Under the RBI 2025 Directions, the bank must finish the process within 15 days of receiving all complete documents. If the bank is slow without a good reason, write a formal letter to the Branch Manager and mention the RBI Settlement of Claims Directions, 2025.

If that does not help, speak to the bank's Grievance Redressal Officer. This is the person inside the bank who handles complaints. If thirty days pass and nothing moves, you can take the complaint to the Banking Ombudsman under the RBI's Integrated Ombudsman Scheme. This service is free.

How Writing a Will Stops Bank Accounts From Going Unclaimed After Death

The reason most accounts go unclaimed is simple. The account holder passed away. The family did not know the account existed. Ten years went by with no activity. The balance moved to the DEA Fund.

A Will that lists every bank account by name, bank, and branch means the family knows exactly what to look for. A nominee registered on the account means the money can be collected quickly. Together, these two things stop accounts from being forgotten.

AasaanWill's blog on how to find out if someone left you money after they died covers how to trace all financial accounts a person held, not just bank deposits.

Common Problems Families Face When Claiming Unclaimed Deposits After Death

These problems come up again and again. 

• The family does not know the exact name under which the deceased opened the account, so UDGAM results are incomplete.

• A nominee was named years ago, but the nominee has since passed away.

• The bank branch where the account was held has closed, and the account has been transferred to another branch.

• One of the heirs cannot be reached to sign the required agreement.

• Documents are sent to the bank in stages, causing the 15-day clock to restart each time.

How AasaanWill Helps With Unclaimed Deposits and Estate Planning

AasaanWill helps families make sure no account is ever forgotten. Our team assists with:

• Writing a Will that lists every bank account, deposit, and branch so the family has a clear starting point

• Making sure nominees on all accounts match the wishes in the Will

• Explaining and assisting in the process of obtaining a legal heir certificate/succession certificate in case it is needed is for claiming bank deposits.

• Guiding families through the UDGAM search and the bank collection steps that follow

• Helping build a complete list of all financial accounts in one place

A Will that lists every account means your family never has to guess. AasaanWill can help you write that Will today.

Conclusion

The UDGAM portal is a free platform run by the RBI that helps families find forgotten bank deposits in one search across many banks.

When a bank account has no activity for ten years, the money moves to the DEA Fund, which stands for Depositor Education and Awareness Fund, run by the RBI. The money is not taken away. The family can still collect it from the original bank at any time.

Finding the account through UDGAM is the first step. Collecting the money from the bank is the second step. While a nominee can collect bank balances with very few documents, a legal heir needs a legal heir/succession certificate to claim the amounts. The bank must finish the process within 15 days of receiving all documents under the RBI 2025 Directions.

A Will that lists every bank account keeps your family in control. AasaanWill can help you write that Will today.

Frequently Asked Questions

1. What is the RBI UDGAM portal in simple terms?

UDGAM stands for Unclaimed Deposits Gateway to Access Information. It is a free online platform built by the RBI that lets you search for forgotten bank deposits across many banks at once, using the name of the person who passed away.

2. What does RBI stand for in the context of the UDGAM portal?

RBI stands for Reserve Bank of India. It is the central bank of India that oversees all banks in the country under the Reserve Bank of India Act, 1934. The RBI built and runs the UDGAM portal.

3. What does UDGAM stand for and when was it launched?

UDGAM stands for Unclaimed Deposits Gateway to Access Information. The RBI launched it in August 2023 to help families find unclaimed bank deposits without having to contact each bank separately.

4. What is an unclaimed bank deposit in simple terms?

A bank deposit is called unclaimed when the account holder has not done anything with it for ten years. No withdrawal, no transfer, nothing. The bank then moves the balance to the DEA Fund run by the RBI.

5. What does the DEA Fund stand for and who runs it?

DEA stands for Depositor Education and Awareness. The DEA Fund is run by the RBI under the Banking Regulation Act, 1949. It holds bank balances that have been unclaimed for ten or more years.

6. Is the money in the DEA Fund taken away from the family permanently?

No. The money is not taken away. The family can walk into the original bank and collect the full balance with interest at any time, even if many years have passed since the account became unclaimed.

7. Does the UDGAM portal transfer the unclaimed money to the family directly?

No. UDGAM only helps you find which banks hold unclaimed deposits. The actual collection happens directly at the bank. The portal does not process or transfer any money.

8. Who can collect unclaimed deposits of a deceased person from an Indian bank?

The registered nominee collects first with minimal documents. If no nominee was named, the legal heirs collect using a legal heir certificate. If the deceased left a Will, the people named in it are the rightful owners.

9. What is a legal heir certificate and how do you get one for an unclaimed deposit claim?

A legal heir certificate is a document from the local revenue office such as the Tehsildar or municipal office. It confirms who the surviving family members are who have the right to collect the money of the person who passed away.

10. What is a succession certificate needed for an unclaimed deposit claim?

A succession certificate is a document from a civil court that confirms who has the right to collect money or assets of a person who passed away. Banks ask for this when the amount is very large or when family members disagree about who should collect.

11. How many days does a bank have to process an unclaimed deposit claim after receiving documents?

Under the RBI Settlement of Claims Directions, 2025, the bank must complete the process within 15 days of receiving all complete documents from the person collecting.

12. What should you do if the bank does not process an unclaimed deposit claim within 15 days?

Write a letter to the Branch Manager mentioning the RBI 2025 Directions. If unresolved, speak to the bank's Grievance Redressal Officer. After thirty days, take the complaint to the Banking Ombudsman under the RBI's Integrated Ombudsman Scheme, which is free.

13. Can the UDGAM portal be used to search for a living person's unclaimed deposits?

Yes. The search is by name and details only. The portal does not restrict searches to deceased persons. You can search for any person's unclaimed deposits.

14. How does writing a Will prevent bank accounts from going unclaimed after death?

A Will that lists every bank account with the name, bank, and branch tells the family exactly what exists after the account holder passes away. This stops accounts from sitting untouched for ten years and moving to the DEA Fund.

15. Can AasaanWill help with planning so bank deposits do not go unclaimed?

Yes. AasaanWill helps you record all accounts in your Will, keeps nominees updated, and guides your family through the UDGAM search and the bank collection process when the time comes.

Disclaimer: This article is for general informational purposes only and does not constitute legal advice. The information presented reflects the law as of the date of publication. For advice on your specific situation, please consult a qualified advocate.

Make sure nothing you own goes forgotten. Write a Will with AasaanWill today. Visit Aasaanwill.com to get started.