Unclaimed Money in India: ₹78,000 Crore Waiting — How to Find Yours

The Scale of Unclaimed Wealth in India

India has a silent crisis: over ₹78,000 crore of wealth lies unclaimed across financial institutions. That’s more than the GDP of several small countries — just sitting in bank accounts, insurance vaults, and government funds because families don’t know it exists.

Here’s the breakdown:

Source	Amount	Portal
Bank Deposits (RBI)	₹35,000+ Cr	UDGAM
Shares & Dividends (IEPF)	₹22,000+ Cr	IEPF
Insurance Claims (IRDAI)	₹18,000+ Cr	IGMS
Provident Fund (EPFO)	₹27,000+ Cr	EPFO
Mutual Funds (AMFI)	₹2,700+ Cr	AMFI
Post Office Savings	₹1,500+ Cr	India Post

This number grows by ₹5,000-7,000 crore annually. And these are just the reported figures.

Why Does Money Go Unclaimed?

The reasons are painfully common:

1. A family member passes away and others don’t know about all accounts
2. Old addresses — bank communications go to an address nobody lives at anymore
3. Name mismatches — married name vs maiden name vs name on old documents
4. Forgotten investments — that PPF opened 20 years ago, the FD that matured in 2015
5. No nominee or wrong nominee — the account falls into a bureaucratic black hole
6. NRIs losing track — accounts opened before moving abroad

How to Search: Step-by-Step

Step 1: Gather Your Documents

Before you start searching, collect:

• PAN cards of all family members (living and deceased)
• Aadhaar cards for identity verification
• Death certificates (if searching for a deceased relative’s assets)
• Old bank passbooks, policy documents, share certificates — anything you can find
• Family member names including spelling variations (e.g., “Rajesh” vs “Rajesh Kumar” vs “R. Kumar”)

Step 2: Search RBI UDGAM (Bank Deposits)

The Reserve Bank of India’s Unclaimed Deposits – Gateway for Accessing information (UDGAM) portal is your first stop.

URL: https://udgam.rbi.org.in

How to search:

1. Register with your mobile number
2. Search by name, PAN, or account details
3. The portal covers all commercial banks, cooperative banks, and RRBs
4. If you find a match, the portal tells you which bank holds the unclaimed deposit
5. Contact that bank branch directly with your identity proof and claim documents

Pro tip: Search with multiple name spellings. “Sharma, Rajesh” and “R Sharma” might be in different records.

Step 3: Check IEPF (Shares & Dividends)

The Investor Education and Protection Fund under the Ministry of Corporate Affairs holds shares and dividends unclaimed for 7+ years.

URL: https://iepf.gov.in/IEPFA/refund.html

How to search:

1. Search by company name, PAN, or investor name
2. If shares are found, file IEPF-5 form for refund
3. You’ll need: original share certificate (or indemnity bond), PAN, Aadhaar, bank details
4. The claim goes to the company first, then to IEPF Authority in Delhi
5. Processing time: 30-60 days typically

Important: There is no time limit for IEPF claims. Shares transferred in 2005 can still be claimed in 2026.

Step 4: Search Insurance (IRDAI)

Unclaimed insurance amounts include matured policies, death claims, and survival benefits.

For LIC: https://licindia.in/unclaimed-amounts For others: Contact the insurer directly or use IGMS

What to search for:

• Matured endowment policies
• Death claims not filed by nominees
• Survival benefits from ULIPs
• Annuity payments from pension plans

Step 5: Check Mutual Funds (AMFI)

URL: https://www.amfiindia.com/investor-corner/unclaimed-dividends-and-redemption

Search by PAN across all Asset Management Companies (AMCs). Includes unclaimed dividends, matured SIP proceeds, and redemption amounts.

Step 6: Check EPFO (Provident Fund)

URL: https://passbook.epfindia.gov.in

If a family member changed jobs without transferring their PF, the old account becomes “inoperative” after 3 years. Over ₹27,000 crore sits in inoperative PF accounts.

Documents Needed to File Claims

Every institution has slightly different requirements, but here’s the universal checklist:

• ✅ PAN card of the claimant
• ✅ Aadhaar card
• ✅ Death certificate (if claiming on behalf of deceased)
• ✅ Succession certificate OR legal heir certificate (from court)
• ✅ Relationship proof (marriage certificate, birth certificate)
• ✅ Bank account details for transfer
• ✅ Original documents if available (passbook, policy, share certificate)
• ✅ Indemnity bond (if originals are lost)

Note on Succession Certificate: You can obtain this from the District Court. It typically costs ₹200-500 in court fees plus lawyer fees (₹5,000-15,000). Processing time: 3-6 months. Some institutions accept a legal heir certificate from the Tehsildar’s office, which is faster (2-4 weeks).

How Long Do Claims Take?

Type	Typical Duration
Bank deposits (simple)	15-30 days
Bank deposits (contested)	3-6 months
IEPF shares	30-60 days
Insurance claims	30-90 days
Mutual fund refunds	15-30 days
EPF withdrawal	10-20 days

Red Flags and Scams

Be cautious of:

• “Agents” who charge upfront fees to find unclaimed money — all portals are free
• Emails claiming you have unclaimed inheritance — classic phishing
• Websites that look like government portals but have different URLs
• Anyone asking for your PAN/Aadhaar without being a verified institution

The official portals are always on .gov.in or .rbi.org.in domains.

What Lineage Money Does Differently

Searching 6 different portals, filing claims with different documents, and tracking everything manually is exhausting. That’s exactly why we’re building Lineage Money.

Our platform will:

• Aggregate search across all unclaimed asset databases
• Track your family’s complete wealth so nothing gets forgotten in the first place
• Store documents securely in an encrypted vault
• Alert family members when accounts need attention
• Connect you with verified advisors who can help with complex claims

We’re launching in March 2026. Join the waitlist to be among the first families to use it.

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Last updated: February 2026. All figures are from the latest available RBI, SEBI, IRDAI, AMFI, and EPFO reports.