This is how you will get old money
Have you ever opened an old bank account and now you have forgotten it or did a family member’s money lie dormant in the bank? If your answer is yes, then there is nothing to worry about. This news is for you only. Reserve Bank of India is now giving full help to you in getting your rights. Inactive accounts i.e. money lying in inactive accounts for more than 2 years or unclaimed deposits older than 10 years are transferred by banks to the DEA fund of RBI. But now you or your legal heirs can claim it anytime. RBI has made it so easy that the entire money will be refunded in just 3 steps.
According to RBI, crores of rupees are lying in the form of unclaimed deposits across the country. This money comes from inactive accounts, where no transaction takes place for 2 years. If 10 years pass, banks shift it to DEA (Depositor Education and Awareness) fund. But this money is yours and can always be claimed. RBI has clarified that there is no time limit. You can claim for these anytime.
How to find your unclaimed money?
- First of all go to the official website of RBI. https://www.rbi.org.in/Scripts/DepositorEducation.aspx.
- Search your name or that of your family members here. You will get the complete list of how much money is lying in which bank.
- Apart from this, special camps are being organized on unclaimed assets in all the districts of the entire country from October to December. Go to these camps and get direct help.
Claim this way
- Go to any bank branch- It is not necessary to be the original bank. Visit any bank branch of your choice. Take the claim form there and fill it.
- KYC proof-Give any valid document like Voter ID, Driving License, Aadhar Card, Passport, NREGA Card etc. as ID and address proof. If heirs are claiming, then legal documents like death certificate will also be required.
- You will get money after verification- The bank will verify and transfer the entire amount from RBI’s DEA fund. The process is fast, no extra charges.