Depositor Education and Awareness Fund (DEAF)

iAbout This Scheme

The Depositor Education and Awareness Fund, established under the Banking Regulation Act by RBI in 2014, collects unclaimed deposits of banks (deposits unclaimed for 10+ years) and uses the funds for depositor education, financial literacy, and awareness campaigns. Depositors can still claim their original amount with interest even after transfer to DEAF.

🎁Key Benefits

Unclaimed deposit funds used for financial literacy and depositor education
Depositors retain right to claim original amount plus interest from their bank
Banks must transfer unclaimed deposits of 10+ years to DEAF
RBI uses DEAF corpus to fund RBSI and financial literacy initiatives
Reduces dormant account exploitation
Centralized tracking of unclaimed deposits

✅Eligibility Criteria

1
Applies to all bank account holders; depositors with unclaimed accounts can claim from their bank

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📝How to Apply

1

Contact Bank

Contact the bank branch where the dormant account exists.

2

Submit Claim

Submit KYC and claim for unclaimed amount.

3

Bank Refund

Bank refunds principal plus interest even if transferred to DEAF.

❓Frequently Asked Questions

Do I lose my unclaimed deposit after 10 years?

No. The bank transfers to DEAF but you can still claim the full amount plus interest from your bank.