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What is Depositor Education and Awareness (DEA) Fund?

Maintaining a deposit account with the bank but haven’t operated it for quite some years? What happens to your inoperative deposit account? Can you claim the amount of such inoperative accounts?

What happens to inoperative deposit accounts?

The amount to the credit of any deposit account in India with any bank which has not been operated upon for 10 years or any deposit / amount remaining unclaimed for more than 10 years is credited by the bank to the Depositor Education and Awareness (DEA) Fund.

What is DEA Fund?

It is a fund maintained under Depositor Education and Awareness Fund Scheme, 2014 in accordance with Section 26A of Banking Regulation Act, 1949.

The DEA Fund is utilized for promotion of depositors’ interest. 

When shall the amount be transferred to DEA Fund?

(Updated on June 25, 2025)

A bank shall transfer to the DEA Fund, the amounts becoming due in each calendar month (i.e., proceeds of the inoperative accounts and balances remaining unclaimed for 10 years or more) and the interest accrued on interest bearing accounts till the date of transfer, during the last 5 working days of the subsequent month. 

Can depositor claim the amount transferred to the DEA Fund?

Even after the amount of inoperative account has been transferred to the DEA Fund, the depositor can claim from the bank the deposit or any other unclaimed amount or operate the deposit account. 

(Updated on June 25, 2025)

In case of demand from a customer / depositor, whose unclaimed amount / deposit had been transferred to DEA Fund, a bank shall repay the customer / depositor, along with interest, if applicable, and thereafter, lodge a claim for refund from the DEA Fund for an equivalent amount paid to the customer / depositor. In case of any claim made by the customer / depositor for refund of only part amount, the bank shall repay the customer accordingly by making the account operative and keep the remaining amount (including the interest, if any) in the account, and thereafter lodge a claim for the entire amount from the DEA Fund. The claim shall be submitted during the first 10 working days of every month. 

Can depositors earn interest on amount transferred to the DEA Fund?

The rate of interest payable by the banks to the depositors / claimants on the unclaimed interest-bearing deposit amounts transferred to the DEA Fund is fixed by the Reserve Bank of India (RBI) from time to time.

The rate of interest to be paid on such deposits was fixed at the rate of 4% p.a. for the period up to June 30, 2018, 3.5% for the period from July 01, 2018 to May 10, 2021 and at 3% from May 11, 2021 till the time of payment to the depositor / claimant.

How / where can depositors search their unclaimed deposits? What is UDGAM?

Reserve Bank of India (RBI) has launched a Centralised Web Portal - UDGAM (Unclaimed Deposits – Gateway to Access inforMation) to facilitate and make it easier for the public to search their unclaimed deposits across multiple banks at one place. The portal will also enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks. 

Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the portal.

The search facility was initially made available on the portal for 7 banks (State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank Ltd., South Indian Bank Ltd., DBS Bank India Ltd., Citibank N.A.) and for remaining banks it was planned to be made available in a phased manner by October 15, 2023. The search facility for 30 banks has been made available on the portal on September 28, 2023, which covers around 90% of such unclaimed deposits (in value terms) in DEA Fund.

Which deposits / amounts are covered under DEA Fund Scheme, 2014?

  • Savings bank deposit accounts
  • Fixed / term deposit accounts
  • Cumulative / recurring deposit accounts
  • Current deposit accounts
  • Other deposit accounts in any form or with any name
  • Cash credit accounts
  • Loan accounts after due appropriation by the banks
  • Margin money against issue of Letter of Credit / Guarantee etc., or any security deposit
  • Outstanding telegraphic transfers, mail transfers, demand drafts, pay orders, bankers cheques, sundry deposit accounts, vostro accounts, inter-bank clearing adjustments, unadjusted National Electronic Funds Transfer (NEFT) credit balances and other such transitory accounts, unreconciled credit balances on account of Automated Teller Machine (ATM) transactions, etc.
  • Undrawn balance amounts remaining in any prepaid card issued by banks but not amounts outstanding against travellers cheques or other similar instruments, which have no maturity period
  • Rupee proceeds of foreign currency deposits held by banks after conversion of foreign currency to rupees in accordance with extant foreign exchange regulations
  • Such other amounts as may be specified by RBI from time to time.


References

Reserve Bank of India. (2014, March 21). 'The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act, 1949'. Retrieved from https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8780&Mode=0

Reserve Bank of India. (2021, May 11). 'Banking Regulation Act, 1949 – Section 26A Depositor Education and Awareness Fund Scheme, 2014 – Interest rates payable on unclaimed interest bearing deposit'. Retrieved from https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12091&Mode=0

Reserve Bank of India. (2023, October 05). 'Onboarding of more banks on उद्गम UDGAM portal'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=56498

Reserve Bank of India. (2023, August 17). 'RBI launches उद्गम - UDGAM - Centralised Web Portal for searching Unclaimed Deposits'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=56216

Reserve Bank of India. (2024, March 05). 'FAQ - Depositor Education and Awareness (DEA) Fund Scheme, 2014'. Retrieved from https://www.rbi.org.in/Scripts/FAQView.aspx?Id=165

Reserve Bank of India. (2025, June 25). 'The Depositor Education and Awareness (DEA) Fund Scheme, 2014 – Revised Operational Guidelines'. Retrieved from https://website.rbi.org.in/web/rbi/-/notifications/the-depositor-education-and-awareness-dea-fund-scheme-2014-revised-operational-guidelines


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