Unclaimed Money in India: How to Find & Claim It
Over ₹78,000 crore lies unclaimed in Indian banks alone — plus forgotten shares, insurance and mutual funds. Most of it belongs to families who never knew the money existed. Here's how to find it, claim it, and make sure yours is never lost.
Last updated: June 2026. This guide is general information, not legal or financial advice. Verify the latest rules on the official RBI, IEPF and IRDAI websites.
Why so much money goes unclaimed
A father keeps a fixed deposit at a bank branch near his first job. A mother holds an old LIC policy from the 1990s. A grandfather bought 100 shares of a company that has since split and merged twice. None of it is written down in one place. When they pass away, the family inherits the home and the obvious savings account — but the FD, the policy and the shares quietly become unclaimed, because nobody knew they existed.
This is not a rare story. The Reserve Bank of India has reported tens of thousands of crores in unclaimed deposits transferred to its Depositor Education and Awareness Fund (DEAF). Thousands of crores more sit as unclaimed dividends and shares with the Investor Education and Protection Fund (IEPF), and as unclaimed maturity and death-claim amounts with insurers. The common thread is almost never fraud — it is simply lost information.
Where to search for unclaimed money
1. Bank deposits — RBI UDGAM portal
The RBI launched the UDGAM portal (udgam.rbi.org.in) so you can search for unclaimed deposits across many banks in one place. Register with your mobile number, then search by account holder name and bank. If you find a match, you approach that bank with the claim documents to recover the money.
2. Shares & dividends — IEPF
When dividends or shares stay unclaimed for seven years, companies transfer them to the IEPF. You can search and file a claim (Form IEPF-5) on the IEPF portal (iepf.gov.in). For shares still with the company or its registrar (RTA), contact CAMS or KFintech.
3. Insurance — insurer & IRDAI
Every insurer publishes an "unclaimed amounts" search on its website where you can check using the policy number, PAN or date of birth. IRDAI also requires insurers to make this searchable. LIC and private insurers each have their own portal.
4. Mutual funds — AMC / RTA
For forgotten folios, contact the asset management company or use the registrars CAMS and KFintech, which can produce a consolidated statement across fund houses linked to a PAN.
How families claim it after a death
The exact paperwork varies by institution and amount, but the typical requirements are:
- Death certificate of the account or policy holder.
- Proof of identity of the claimant.
- If you are the registered nominee: the claim form and KYC. (Remember: a nominee receives the money in trust for the legal heirs — see our guide on nominee vs legal heir.)
- If there is no nominee: banks may ask for a succession certificate, legal heir certificate, will, or an indemnity, especially for larger amounts.
The single biggest obstacle is rarely the form — it is knowing the account, policy or folio existed at all.
The real fix: never let it become unclaimed
Finding unclaimed money after the fact is slow and uncertain. The reliable solution is to make sure your family never has to search in the first place. That means keeping one updated record of:
- Every bank account, FD and recurring deposit — with branch and account details.
- Every insurance policy — insurer, policy number and nominee.
- Every investment — mutual funds, shares, NPS, PPF, EPF, bonds, gold.
- Property papers, locker details, and the passwords needed to reach digital accounts.
- Who you want each of these to go to.
A diary works — until it is lost, outdated, or read by the wrong person. This is exactly the problem Nivi was built to solve.
How Nivi keeps your money findable — but private
Nivi is an encrypted digital space where you keep all of the above in one place. Everything is encrypted on your own device before it is uploaded, so even Nivi cannot read it. You assign the people who should receive each item, and if you are ever not around, Nivi's verified handover releases access only to those loved ones — after a death certificate is checked and their identity is confirmed. See exactly how it works.
Your hard-earned money should reach your family — not sit unclaimed in a government fund.