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DEAF Accounts

DEAF account List of Rs.4815363.28 till 31-12-2025

"DEAF accounts" refer to funds in bank accounts that have been inactive for 10 years or more, which are then transferred by banks to the Depositor Education and Awareness Fund (DEAF) maintained by the Reserve Bank of India (RBI). It's a depositor-friendly initiative to protect unclaimed money, not a new type of account, and depositors retain the right to claim their funds, plus interest, at any time by contacting their Bank.

Key Aspects of DEAF

  • Inactivity Period: An account becomes "unclaimed" and its funds are moved to DEAF after 10 years without a customer-initiated transaction (like a deposit, withdrawal, or renewal).
  • Types of Accounts: This applies to savings, current, fixed, recurring, and other deposit accounts.
  • Ownership Remains: The money still belongs to the original depositor or their legal heirs, even after transfer to DEAF.
  • Claim Process: You can claim your money by approaching the bank where the account was held with ID and address proof. Banks must facilitate this.
  • Purpose: The fund promotes depositor awareness and is used for other related activities as decided by the RBI.

How to Check for Unclaimed Deposits

  • Banks are required to list unclaimed deposits on their websites.
  • You can search using your name and address.

Difference from Dormant Accounts

  • Dormant Account: Inoperative for 2 years; money stays with the bank.
  • DEAF Account: Inoperative for 10 years; funds moved to RBI's DEAF fund but are still reclaimable.

In essence, DEAF is a system to manage and secure money that has been forgotten, ensuring it's protected and can be recovered.

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