Do you think you have some unclaimed money in your name that you’re yet to find and cash out? Follow the guide to know how you can find and cash it right away. Let’s jump into it and find out.
Ways to find unclaimed money in your name
If you think you have some unclaimed money in your name, then these are the ways you can try to ascertain and get it.
Central Portal
The first place to look for and Start with is the central portal. Visit the official Department of Financial Services Common Landing Portal (unclaimedassetsportal.in). It should be your go-to place to see, and it directs you to all regulated government systems for bank accounts, shares, insurance, and mutual funds.
Dormant Deposits
Check for dormant bank deposits. Search the Reserve Bank of India’s UDGAM portal – udgam.rbi.org.in, using your full legal name and an identification number like a PAN, passport, or date of birth that authenticates it. It will take a few moments to finally scan multiple banks at once to reveal old checking, savings, or fixed deposit balances.
Forgotten Calculations
You can also search for forgotten shares and company dividends if there had been some in the past. Access the Investor Education and Protection Fund Authority website (iepf.gov.in). Companies transfer dividends and stocks that have stood unused or unclaimed for over seven years directly to this fund.
Inactive Funds
Your next step should be to look up inactive mutual fund holdings. In order to do this, just head to the MITRA platform on MF Central. Enter your identity details, and you’ll find the required information over there.
Insurance
You can also verify unpaid insurance policy proceeds. Use the IRDAI Bima Bharosa portal (bimabharosa.irdai.gov.in) to check for matured life insurance policies, claim settlements, or survival benefits that were never deposited into your account. If that’s the case, you can proceed accordingly in legal ways.
PF
There is also a way to find your way back to the abandoned provident fund accounts. To do this, you can simply log into the official EPFO portal using your Universal Account Number (UAN) to check whether old employee provident funds from previous jobs are there or not.
If you find any amount that is still unclaimed, you can try to gather your documents and identity information to finally make the claim wherever you can. It may take a few days for the response to come, depending on where the money is left unclaimed.
