Unclaimed Money in India
India has significant unclaimed financial assets spread across three separate systems, each regulated by a different authority. Together, these systems hold hundreds of thousands of crore rupees in unclaimed assets from bank deposits, shares, dividends, and insurance policies.
The three key portals are: UDGAM (Unclaimed Deposits — Gateway to Access inforMation) for bank deposits, managed by the Reserve Bank of India; the IEPF (Investor Education and Protection Fund) portal for unclaimed shares and dividends, managed by the Ministry of Corporate Affairs; and IRDAI's portal for unclaimed insurance amounts. All three are free to search and do not require any intermediaries.
Three Portals You Must Check
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UDGAM – RBI (Bank Deposits)
Search udgam.rbi.org.in for unclaimed bank deposits across all scheduled commercial banks. RBI's portal launched 2023 and covers accounts dormant for 10+ years. Login with mobile number.
✓ For all bank accounts — start here
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IEPF Portal (Shares & Dividends)
Search iepf.gov.in/IEPF/refund.html for unclaimed dividends, matured debentures, application money, and shares. Companies transfer unclaimed amounts after 7 years. File Form IEPF-5.
✓ For shares, dividends, debentures
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IRDAI (Insurance)
Search igms.irda.gov.in or contact individual insurers. LIC India holds the largest pool of unclaimed insurance — search at licindia.in using policy number, name, or PAN.
✓ For life & general insurance
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EPFO (PF Accounts)
Unclaimed Employees' Provident Fund balances can be found at unclaimedpf.epfindia.gov.in. Enter your UAN or PF account number to check for dormant PF balances.
✓ For provident fund accounts
How to File an IEPF Claim
For IEPF claims (shares and dividends), the process involves: logging in to iepf.gov.in, filing Form IEPF-5 online, uploading supporting documents (Aadhaar, PAN, Demat account details, share certificates or dividend warrants), and submitting the claim. The company's Nodal Officer then processes the claim and forwards it to IEPF for payment. The process typically takes 60–90 days.
For UDGAM bank deposit claims, you need your Aadhaar-linked mobile number to search. Claims are then filed directly with the bank. Documents required include KYC documents (Aadhaar + PAN), passbook or account statement, and any correspondence with the bank.
How much money is unclaimed in India?
RBI's UDGAM covers over ₹78,000 crore in bank deposits. IEPF holds over ₹89,000 crore in unclaimed shares, dividends, and other corporate amounts. LIC India alone holds thousands of crore in unclaimed matured policies.
What is the dormancy period for Indian bank accounts?
Bank accounts with no customer-initiated transaction for 10 years are classified as 'inoperative accounts' and unclaimed deposits are transferred to RBI's Depositor Education and Awareness Fund (DEAF). Search via UDGAM at udgam.rbi.org.in.
What is IEPF and who manages it?
The Investor Education and Protection Fund (IEPF) is administered by the Ministry of Corporate Affairs. Companies must transfer unclaimed dividends, matured debentures, and unpaid application money after 7 years to IEPF. Shares of companies with unclaimed dividends for 7 consecutive years are also transferred.
How do I claim LIC insurance?
Search for unclaimed LIC policies at licindia.in — click on 'Unclaimed Amount of Policy Holders'. You can search by policy number, insured name, or PAN. Claims are processed at the LIC branch where the policy was issued.
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Frequently Asked Questions About Unclaimed Money in India
What is the IEPF and how do I claim from it?
The Investor Education and Protection Fund (IEPF) is a government fund administered by the Ministry of Corporate Affairs under the IEPF Authority. Under the Companies Act 2013, companies must transfer unpaid dividends, matured deposits, shares, and debenture amounts that have remained unclaimed for seven consecutive years to the IEPF. To claim money from the IEPF, you file Form IEPF-5 on the MCA portal (mca.gov.in) or through the IEPF portal at iepf.gov.in, submit the original documents to the company's nodal officer, and the IEPF Authority reviews and approves the refund. Claims are processed within 60 days. There is no fee to claim.
How do I find unclaimed RBI-regulated bank deposits in India?
The Reserve Bank of India (RBI) requires banks to transfer savings or current account deposits that have been inactive for ten years to the Depositor Education and Awareness Fund (DEAF). Depositors or their heirs can reclaim these amounts from the original bank — the bank claims them back from DEAF and returns them to you. The RBI maintains the UDGAM (Unclaimed Deposits — Gateway to Access inforMation) portal at rbi.org.in, which allows you to search for unclaimed deposits across multiple banks using your name and PAN or Aadhaar. This consolidated portal makes it significantly easier to find dormant deposits across different banks.
How do I find unclaimed EPFO provident fund money in India?
The Employees' Provident Fund Organisation (EPFO) manages India's mandatory provident fund for formal sector employees. Unclaimed PF balances are common among workers who changed jobs without transferring their PF or who left employment without completing the withdrawal process. Log in to the EPFO Unified Member Portal (unifiedportal-mem.epfindia.gov.in) using your UAN (Universal Account Number) to check your balance and claim history. If you do not know your UAN, you can find it using your PAN, Aadhaar, or your previous PF account number. EPFO also operates a helpline at 1800-118-005 (toll-free) for claim-related queries.
Can NRIs (Non-Resident Indians) claim unclaimed money in India?
Yes. NRIs can claim unclaimed bank deposits, IEPF amounts, and EPFO balances from abroad. For bank deposits, contact the bank directly — NRI accounts (NRE, NRO, FCNR) are handled by the bank's NRI services department and can be managed remotely. For IEPF claims, NRIs can file Form IEPF-5 online but may need to coordinate with a nodal officer in India. For EPFO, NRIs can use the online portal or appoint a representative in India. Payments can typically be remitted to NRI bank accounts abroad. A chartered accountant or advocate with NRI financial expertise can help navigate complex multi-source claims.