The Reserve Bank of India (RBI) has released a website called UDGAM (Unclaimed Deposits – Gateway to Access Information). Its intention is to make it smooth for the public to discover any deposits they or their families might have forgotten. It could be claimed as one’s own deposits or as heirs to deposits left by ancestors.

Unclaimed deposits mostly happen because sometimes we may not close savings or current accounts when we no longer need them. It also occurs when we forget to collect money from banks after fixed deposits mature. Another situation arises when someone passes away, and the family is not aware of these deposits and hence are not in a position to claim them.

When you use the RBI UDGAM Portal, you'll be able to see information about unclaimed deposits in seven banks at one go. These banks are SBI, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank, South Indian Bank, and DBS Bank India. Citibank is also available on the portal for organizations, not individuals. More banks will be added in the future. 

Here's a step-by-step guide on how to use UDGAM and check if you have any unclaimed deposits (either your own, or of your ancestors which you can claim as heirs.) You can find the link to log in to the RBI UDGAM Portal at the end of this article.

How to use UDGAM and claim your Unclaimed Deposits

1.Register with your mobile number, name, and password.

2.Login with your mobile number, password and OTP. 

3.Search for unclaimed deposits using various methods.

4.Name of the account holder is mandatory:  Do try various permutations and combinations of names. If there is a possibility of the name having common different spellings, use those also

E.g. If you are searching for any unclaimed deposits left by your late father Shri P K Goyal for which you are a legal heir:- search with various combinations of the name: Praveen Kumar Goyal, Praveen Goyal, P K Goyal,P K Goel, Praveen Kumar Goel, Praveen Goel.

5.Bank field is mandatory. If you want to search only in a specific bank, choose that bank; else select ALL banks. It is preferable to select ALL banks for a wider search.

6.Search with any one or more of the 5 fields: Driving license, PAN , passport, Date of Birth, Voter ID. Do try fields one by one for wider search.

7.You may also search with address.

8.The search will show the relevant deposits / accounts along with the bank name.

9.Click on the bank name and follow the procedure mentioned. Visit the bank along with your identification, address, claim documents.

10.If the deposits are your own; the bank will mark the accounts as operative and you can start enjoying the deposits. If you are claiming the deposits as an heir / nominee, the bank will process your claim as per their claim settlement process.

Previously, for unclaimed deposits, you had to check each bank's website separately to recover it. The new UDGAM website simplifies this by allowing you to search across various banks in one place.

Also, you can ensure that your deposits never become unclaimed and are accessible to your family by following this formula:

1. Always do nominate, wherever this facility is available. 

2. Make A Will. It has now become affordable and you can make it conveniently in minutes from your home.

3. Inform your trustworthy friends / family members of the list of your assets and Will as per your comfort.

4. Regularly update your nominee address, Will beneficiaries as and when required.

Do visit UDGAM. Search for unclaimed deposits - either your own or as an heir / nominee. Also, always nominate, make Will, inform and update them so that your deposits never become unclaimed.

UDGAM : https://udgam.rbi.org.in/

Make Will at Quikdox: https://quikdox.com