Thousands of crores lie in matured but unclaimed fixed deposits across Indian banks and corporates. If the FD holder has passed away, moved cities, or simply forgotten, the money quietly waits — and eventually moves to a government fund.
Two Types of FD — Two Different Recovery Paths
Bank Fixed Deposits
Unclaimed bank FDs (matured, no interaction for 10+ years) are transferred to the Depositor Education and Awareness Fund (DEA Fund) maintained by the Reserve Bank of India. Recovery involves a claim through the depositing bank, supported by ID, indemnity and — for deceased holders — legal heir documentation.
Corporate / NBFC Fixed Deposits
Unclaimed corporate FDs (issued by companies, NBFCs, housing finance) after 7 years get transferred to the Investor Education and Protection Fund (IEPF) — the same fund that holds unclaimed shares. Recovery goes through Form IEPF-5 (see IEPF Claims).
Common Reasons FDs Get Unclaimed
- Death of the depositor without informing nominees
- Change of address after maturity date
- FD renewed auto-mode but forgotten
- Signature mismatch preventing claim
- Physical FD receipt lost