Claiming Unclaimed Deposits from the Depositor Education and Awareness Fund (DEAF)

This guide provides detailed information on how to claim funds that have been transferred to the Depositor Education and Awareness Fund (DEAF). We have outlined the process for individuals, nominees, legal heirs, and non-individual account holders to reclaim their money from inoperative or unclaimed accounts.

1. What is the Depositor Education and Awareness Fund (DEAF)?
   

   
   The Depositor Education and Awareness Fund (DEAF) is a fund established by the Reserve Bank of India (RBI) in 2014. As per RBI guidelines, the balances in bank accounts that have been inoperative or unclaimed for a period of 10 years or more are required to be transferred by the respective banks to the DEAF. This transfer includes the principal amount and any accrued interest.

   The primary objective of this fund is to promote depositors' interests and support depositor education and awareness initiatives.

   Even if your funds have been transferred to the DEAF, you or your legal heirs are fully entitled to claim the money at any time from the bank where the account was held. The bank will process the claim and refund the amount after proper verification.
    

2. How to find and claim funds from DEAF?
   

   
   Once an unclaimed deposit is identified, follow the appropriate process below to claim your funds.

   a. Claim by the Account Holder

   If you are the original account holder, you can reactivate the account and claim the funds by visiting your nearest IDFC FIRST Bank with a duly filled and signed claim form along with a recent photograph, valid Identity/Address proof, along with account details such as passbook, statement, cheque book etc.

   Important Note: Please carry the original copies of your identity and address proof for verification by the bank.

   b. Claim by a Nominee or Legal Heir

   In the event of the original account holder's demise, the nominee registered with the account or the legal heirs can file a claim by visiting the nearest bank branch with the required documents. Locate your nearest IDFC FIRST Bank branch here.

   The bank will process the claim as per its internal policies for settling accounts of deceased customers.

   c. Claim for Non-Individual Accounts

   For accounts belonging to a company, firm, institution, or trust, the claim process is as follows:

   • Submit Claim on Letterhead: The claim form must be submitted on the official letterhead of the company, firm, or institution.
   • Authorized Signatories: The form must be duly signed by all current authorized signatories.
   • Submit Re-KYC Documents: Fresh KYC (Know Your Customer) documents for the entity must be provided.

   The bank may request additional documents as needed to complete the verification process.
    

3. What is the processing time for a DEAF Claim?
   

   
   Upon successful submission and verification of all required documents, the bank will process your request. The average turnaround time for the amount to be credited to your account is approximately 10 working days. This timeline may vary depending on the complexity of the case.