Unclaimed Deposit

DEAF, short for Depositor Education and Awareness Fund, was set up by the Reserve Bank of India (RBI) in 2014. As per RBI, the fund shall be utilised for promotion of depositors’ interest and for such other purposes which may be necessary for the promotion of depositors’ interests as specified by the Reserve Bank from time to time.

Unclaimed Deposit (DEAF): -

As per RBI guidelines, when a customer’s account has no activity or remains unclaimed for over 10 years, the funds in that account are considered unclaimed and banks are required to transfer the amount to the RBI under the DEAF scheme. This includes savings accounts, current accounts, fixed deposits, cash credit accounts, and other deposit accounts in any form or with any name that remain unclaimed for over 10 years.

Even if funds have been transferred to the DEAF, the depositor—or, in the event of their demise, the nominee or legal heir—can claim them at any point in time upon becoming aware of the account.

Once funds are transferred to the DEAF, they are maintained by the RBI. The depositor does not lose ownership of the money. You can still claim it at any time, you only need to identify your unclaimed account and approach your Sawji bank’s home branch with the required documents.

The DEAF framework is designed to ensure long-forgotten or idle funds are securely held and eventually returned to rightful claimants when they come forward.

How to Check if Your Deposit Has Gone to DEAF?

Please search the Account Holder Names to check whether your deposit is transferred to DEAF or not.

Additionally, one can access RBI’s central portal UDGAM (Unclaimed Deposits Gateway to Access inforMation) which enables them to search their unclaimed deposits across multiple banks at one place. Site is https://udgam.rbi.org.in/unclaimed-deposits

How to Claim Your Funds from DEAF?

Once you’ve confirmed that your account is listed under unclaimed deposits, follow these steps to get your money back:

For Personal Account Holders (Individual):

Submit the following documents to your home branch:

1. Original Passbook or Term Deposit Receipt
2. Latest valid KYC documents address proof as mentioned in CIF form
3. Latest passport-size photo
4. Duly filled in and signed KYC (CIF – Personal) form to be submitted to the Home Branch. Click here (link) to download the form

Once the documents are submitted, the branch will initiate the process to revive the account or refund the deposit.

For Non-Personal (Firms, Trusts, Entities):

Submit the following documents:

1. Original Passbook / Term Deposit Receipt
2. Duly filled in and signed CIF form (non-personal) to be submitted to the home branch. Click here (link) to download the form.
3. Latest valid KYC documents of the firm/entity for identity and address as mentioned in the CIF form.
4. Latest valid KYC documents/Passport size photo of Beneficial Owners
5. Duly filled in and signed CIF form (CIF – Personal) of Beneficial Owners. Click here (link) to download the forms

Once the documents are submitted, the branch will initiate the process to revive the account or refund the deposit.

Query and Support: -

If you need any assistance, visit your home branch or write to us at: admin@sundarlalsawji.bank.in

The DEAF scheme is a proactive and customer-friendly initiative from the RBI. It ensures that depositors' funds are never lost—even if the accounts are forgotten for many years. It also helps bring awareness about the importance of keeping track of one’s bank accounts and updating records regularly.

If you suspect that you may have an old or forgotten account, don’t delay—check today. Your money is safe, and reclaiming it is simpler than ever.