Withdrawal Process for Unclaimed Deposits

As per the guidelines of the Reserve Bank of India (RBI), deposits in savings, current, or fixed deposit accounts that remain inoperative for 10 years or more are classified as unclaimed deposits. The balances in such accounts are transferred to the Depositor Education and Awareness Fund (DEAF) maintained by RBI. However, customers or their legal heirs can claim the amount at any time from HARCO Bank by following the process outlined below.

1. For Account Holders (If Alive)

If the original account holder wishes to reclaim the amount, they must follow these steps:

1. Visit the Home Branch: The account holder must visit the HARCO Bank branch where the account was originally maintained.
2. Submit a Written Request: A request letter for withdrawal or reactivation of the account must be provided
3. Provide KYC Documents: The customer must submit valid identity andaddress proofs such as:
• Aadhaar Card
• PAN Card
• Passport/Voter ID/Driving License
4. Submit Proof of Account Ownership: Any supporting document, such as a passbook, fixed deposit receipt or account statement should be provided.
5. Bank Verification: After verification, the bank will process the withdrawal or account reactivation as per the applicable norms.
2. For Legal Heirs/Nominees (If Account Holder is deceased)

In the absence of the account holder, the nominee or legal heirs can claim the amount by following these steps:

1. Submit a Claim Form: The nominee or legal heir must fill out the prescribed claim form available at the branch or on HARCO Bank’s website.
2. Provide Proof of Relationship: Any of the following documents must be submitted:
• Death Certificate of the account holder
• Succession Certificate
• Legal Heir Certificate
3. Provide Identity Proof: The claimant must submit KYC documents,including Aadhaar, PAN, or any other valid identity proof.
4. Bank Verification & Processing: The bank will verify the claim, obtain necessary approvals, and process the withdrawal.
3. Bank’s Internal Process
• Once the claim is verified, HARCO Bank will retrieve the amount from the RBI’s DEAF Fund and credit it to the claimant’s account.
• The processing time may vary depending on document verification and approvals.
• Customers will be notified once the claim is successfully processed.
4. Important Notes
• Claims can be made at any time; there is no deadline for reclaiming unclaimed deposits.
• Customers are encouraged to keep their contact details updated to avoid account inactivity.
• If you require any assistance, please contact your nearest HARCO Bank branch or email us at banking@harcobank.org.in.

Withdrawal Process for Unclaimed Deposits

Download Claim Form for Unclaimed Deposits

List of Unclaimed Deposit Accounts of the Bank