How to claim an unclaimed bank fixed deposit after more than 10 years?

It's possible that you invested in a bank fixed deposit and completely forgot about it. Or, you had invested and misplaced the receipt and suddenly found the lost one.

After more than 10 years it's still possible to claim an unclaimed bank fixed deposit. First, banks have to comply with certain guidelines that have to be followed for unclaimed fixed deposits of more than 10 years. According to RBI instructions banks have to first display a list of unclaimed deposits and inoperative accounts which are unclaimed or have been inoperative for ten years or more.

In case a fixed deposit holder at any point of time lost track of the deposit he can first do a search online. This is also true for the legal heir. For example, for Oriental Bank of Commerce inoperative accounts you can search here. Similarly for other banks.

The very first information that one requires is the first two words of the title of the account. This could be the prefix like Mr/Mrs or name. The second important information would be with regards to name of the city and the state. In case you have a correct match after you search online you need to leave your name, address telephone ID, Email ID etc.

Once these have been left you can will get a reference number. The concerned branch officials will get in touch with you.

Of course, once you approach the branch after you have been contacted, you would need an ID and a address proof. In case the legal heir has claims over the fixed deposits, you would have to furnish additional documents. The bank branch would be able to guide you in this regard.

Conclusion

It's a must that you should claim your fixed deposits, since it is your right. The process is not very cumbersome and online guidance is really helpful.

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