Procedure for Activating Inoperative Accounts and Claiming Unclaimed Deposits
Customers can reactivate their accounts or claim unclaimed deposits by following the steps below:
Steps for Activation or Claim:
- Submission of KYC Documents:
- The account holder or claimant must submit updated Know Your Customer (KYC) documents to the branch where the account is maintained. KYC compliance is mandatory to activate the account or claim deposits. The specific list of KYC documents is outlined in the respective deposit schemes for savings and current accounts.
- Return of Unused Cheques (If Applicable):
- Any unused cheque leaves related to the account should be returned to the branch. If the account holder is unable to locate these cheques, a written declaration must be provided.
- Charges for unused cheque leaves will be deducted from the account balance.
- Applicants (account holders/claimants) must fill out the Claim Form, which can be downloaded from the bank's website.
- Completion of the Claim Form:
- Applicants (account holders/claimants) must fill out the Claim Form, which can be downloaded from the bank's website.
- Branch Visit and Document Submission:
- The completed Claim Form, along with the required documents, should be submitted at the branch where the account is held. The branch details can be found in the account holder's passbook, account statements, term deposit receipts, or advice slips.
- Verification and Processing:
- The branch will verify the submitted documents, complete due diligence, and process the request following the bank’s policies.
Documents Required for Activation or Claim Processing:
- Passbook or Term Deposit Receipts.
- Two recent passport-size photographs.
- Valid identity and address proof documents (originals must be presented for verification).
Specific Guidelines Based on Claim Type:
For Individual Account Holders:
- The claimant must provide a written explanation for not operating the account for more than 10 years, as part of the Claim Form.
- The branch will seek necessary approvals from the relevant authorities and process the activation or claim after KYC verification.
For Nominees:
- The nominee must submit a copy of the account holder’s death certificate.
- The branch will verify the nomination details and settle the claim following the bank’s policy for nominee-based claims.
For Legal Heirs:
- Legal heirs must submit a copy of the account holder’s death certificate.
- The claim will be processed in accordance with the bank’s deceased depositor policy.
For Non-Individual Accounts (Proprietorship, HUF, or Company):
- Claims must be submitted on the entity’s letterhead, signed by authorized signatories, along with valid identity proof.
- Fresh KYC documents will be collected, and settlement will be done by issuing a pay order in the account’s name.
Download Form:
- • Unclaimed Deposits / Inoperative Accounts - Claim Form. Download