SBI Unclaimed Deposits: List, How to Check & Claim SBI Unclaimed Deposits?

If you do not use the balance of your savings and current account or if you do not claim your term deposits after maturity for the last 10 years, it goes under unclaimed deposits. The State Bank of India (SBI) Bank, one of the largest public sector banks in India, allows you to get back your unclaimed money.

In this article, we will highlight SBI unclaimed deposits, its claim process, how to check your unclaimed amount, required documents, and other necessary information.

What Is SBI Unclaimed Deposits?

In banking terms, funds (savings/ current account) that have not been used for the last 10 years or term deposits that are unclaimed for the last 10 years from the maturity date are treated as unclaimed deposits. 

If such an incident occurs, the SBI reports it to the Reserve Bank of India (RBI), and the RBI lists the unclaimed deposit details on their UDGAM (Unclaimed Deposits - Gateway to Access Information) portal. This portal makes it simpler for the public to claim their unclaimed funds.

What Is the Total Unclaimed Amount in SBI?

According to the latest information, the State Bank of India has the most unclaimed deposits in India, and the total unclaimed amount is Rs. 8,086 crore. 

What Happens to SBI Unclaimed Deposits?

When the SBI identifies an unclaimed deposit, it reports the same to the RBI for further action. Now, the RBI takes the responsibility and transfers these funds to their Depositor Education and Awareness Fund (DEAF) within 3 months from the expiry of 10 years. 

In 2023, the RBI launched the UDGAM portal to track unclaimed deposits easily. RBI uploads the unclaimed deposit information to this portal so that individuals can check details relating to unclaimed deposits. 

How To Check SBI Unclaimed Deposit?

Follow these steps to check your unclaimed deposits in the State Bank of India:

Step 1: Go to the official website of the State Bank of India.

Step 2: Click on the ‘Customer Care’ option available on the top right-hand side of the homepage.

Step 3: Click on the ‘Show More’ option on the ‘Customer Care’ page and select ‘Inoperative Account (More Than 10 Years)’ from the drop-down option.

Step 4: Enter your name, address, and captcha code and click the ‘Submit’ button.

The screen will display your unclaimed deposit details, if any. To claim your unclaimed deposit, you should visit your nearest SBI Branch.

How To Claim SBI Unclaimed Deposits?

SBI unclaimed deposit claim procedure varies for different categories of customers. Here is a detailed discussion of the same.

• Individual Claim by Customer

Individual customers must visit their home branch with valid proof of identity, latest photographs, address proof and a letter of request (According to the format of SBI Bank). The branch officials will verify the documents, and upon successful verification, the branch will make the account operative and allow transactions in the account.

• Claim by Non-Individuals

For claims by non-individuals, customers must submit a claim form on the firm's, institution’s, or company’s letterhead duly signed by the authorised signatories and their valid address and identity proof. SBI Bank may ask customers to submit additional documents for verification.

• Claim by Legal Heir or Nominee

In this case, the nominee or legal heir must visit the SBI branch with all the required documents. The nominee or legal heir must comply with the claim settlement process of the SBI Bank.

Documents Required To Claim SBI Unclaimed Deposits

These are the list of documents that you need to submit to claim your unclaimed deposits in SBI Bank:

• Bank account statement
• Identity Proof (Aadhaar card, PAN card, Voter ID, Passport or driving license)
• Latest photographs
• Address Proof (Passport, driving license, credit card statement, salary slip or Voter ID)
• Copy of the account holder's death certificate (if claimed by the legal heir or nominee).

Please note that the State Bank of India may ask you for additional documents for verification purposes.

SBI Unclaimed Deposits Claim Form Download

SBI unclaimed deposits claim/ SBI unclaimed deposit reactivation form is available on the SBI Bank’s website. Follow these steps to download the SBI unclaimed deposits claim form:

Step 1: Visit the unclaimed deposit claim page of SBI Bank.

Step 2: On the left-hand side, you will get the 'Download Claim Form' button. 

Step 3: Click on this button to download the PDF version of the claim form

Take a printout of this form, fill it out, and submit it to SBI Bank to claim your unclaimed deposits.

Now that you have an overall idea about SBI unclaimed deposits and the claim process, required documents, list, etc., you can visit your nearest SBI branch to claim your unclaimed deposits. 

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