Unclaimed Deposits

Procedure to be followed by the customer who intends to activate/operate the account:

1. If the customer wishes to activate/ operate the account then the accountholder should submit all fresh documents as per KYC norms to the branch.
2. Branch will open a new account under unique customer number adhering to the existing account opening formalities. The choice of the branch at which the account will be opened will rest with the customer.
3. The account should be opened in cash. However, in case the account is having adequate balance in the inoperative account to make up the minimum balance requirement of the proposed account then the same will be transferred to the new account.
4. Account holder should surrender the unutilized cheques of his inoperative account to the branch. However in case the Account holder/s is not able to find his old unutilized cheques, branch may obtain a declaration in writing to this effect. The applicable charges for unutilized cheques will be deducted from the available balance of the inoperative account.

Process for Claiming of Unclaimed Deposit Accounts:

1. Passbook/ Term Deposit Receipts (advices)
2. Two recent photographs, valid identity and address proof documents (KYC documents) with originals for verification

1. Claimant to give in writing the reason for not operating the account for more than 10 years to the branch in the claim form.
2. Branch will obtain sanction from the respective authorities for payment of unclaimed deposit by putting suitable recommendation and will pay the amount after due diligence and KYC compliance to the account holder.

1. Copy of death certificate of the account holder.

1. Branch while processing the applications will verify the nominations and follow the Bank’s policy for claim settlement in case the claimant is a nominee.

1. Copy of death certificate of the account holder.
2. Branch while processing the applications will meticulously follow the Bank’s policy for claim settlement of deceased depositor.

1. For claim of non-individual accounts including proprietorship, HUF and company etc the Claim forms will be submitted on Company’s/firm’s letter head duly signed by authorized signatories along with valid identity proof.
2. The claims will be settled by taking fresh KYC and issuing a pay-order in the name of the account.           

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