Unclaimed Deposit Accounts Claim - Personal Banking

Unclaimed Deposit Accounts Claim

Guidelines on Inoperative Accounts (10 Years & Above)/ Unclaimed Deposits

Outstanding credit amount of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be transferred to the Depositor Education and Awareness (DEA) Fund of RBI, within a period of three months from the expiry of the said period of ten years.

The Customer / Survivor / Legal Heir/Authorized Signatories, as the case may be, may lodge a claim for the unclaimed deposit to activate the account.

Customer may visit branch of SBI with all necessary KYC documents. If the customer wants to activate and continue operations in the account, the branch will accept the specific request from the customer and reactivate the account by obtaining proper KYC.  In case of final claims and closure of account, branch will accept specific request from the customer to process accordingly.

PROCEDURE FOR CLAIM

Individual claim by customer-

Customer may visit SBI branch with the request letter (in the given format) and submit valid proof of identity, address & latest photograph. On verification of the same, branch will make the account operative and allow transactions in the account.

Claim by Legal Heir / Nominee

The Legal Heir / Nominee may visit SBI Branch and submit the required documents. Customer would be required to comply with the claim settlement process of the Bank.

Claim by Non-Individual

The customer may submit the Claim Form on the Company’s/ Firm’s / Institution’s letterhead duly signed by the authorized signatories along with their valid identity and address proofs. The customer may also be required to submit additional documents as required by the Bank

Unclaimed Deposits /Inoperative Accounts: Claim Form

Date:                                                                    From…………………….

The Branch Manager

State Bank of India,

__________________Branch

Dear Sir/ Madam,

I/We the undersigned Mr./Mrs./Ms/_________________________________

the capacity of

               Self

               Nominee

               Legal Heir

               Others (please specify)

request for settlement of claim, for Deposits account(s) held with your Bank in the name(s) of Mr./Mrs./Ms/Others_____________________________

Name Account No. and Other details:

(with documentary proof)

Name of Claimant(s)                       :

Communication Address with PIN Code:

DOB    PAN No.    Passport No.  Tel/Mob.No.

I/We understand that claim will be settled post due diligence and authentication of documents and in subject to bank's process & policy. I/We undertake to submit the document as may be necessary for the Bank to process the claims and agree to execute the required documents to settle the claim.

Signature:____________

Name       :____________

--------------------------------------------------------------------------------

Customer Acknowledgment slip (to be filled in by Bank official)

Date:

Received a request from Mr./Mrs./Ms.__________________________________for

claiming Unclaimed Deposits/Inoperative Accounts.

State Bank of India                                        Signature of Bank Official with seal
___________________Branch