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Information on the process of claiming unclaimed deposit / activating inoperative accounts.

Procedure to be followed by the customer who intends to activate/operate the account:

  1. If the customer wishes to activate/ operate the account then the accountholder should submit all fresh documents as per KYC norms to the branch.
  2. Branch will open a new account under unique customer number adhering to the existing account opening formalities. The choice of the branch at which the account will be opened will rest with the customer.
  3. The account should be opened in cash. However, in case the account is having adequate balance in the inoperative account to make up the minimum balance requirement of the proposed account then the same will be transferred to the new account.
  4. Account holder should surrender the unutilized cheques of his inoperative account to the branch. However in case the Account holder/s is not able to find his old unutilized cheques, branch may obtain a declaration in writing to this effect. The applicable charges for unutilized cheques will be deducted from the available balance of the inoperative account.
KYC documents are mandatory and should be submitted to claim these deposits. The list of KYC documents are mentioned in the respective deposit schemes for savings and current account.

Process for Claiming of Unclaimed Deposit Accounts:

Applicant (Account holders/Claimants) after checking their name and address on the List of Unclaimed Deposits displayed on this website will visit the branch maintaining his/her account and submit the “Claim Form” duly filled in and signed, along with the following common documents. The account holder can refer to his/her Pass book/Statements of account, Term Deposit Receipts or advices to know the branch details. Applicant can download the Claim form from the Bank’s website.
Common Documents required to be submitted for processing of unclaimed deposits:
  1. Passbook/ Term Deposit Receipts (advices)
  2. Two recent photographs, valid identity and address proof documents (KYC documents) with originals for verification
Claim by deposit holder in individual name:
  1. Claimant to give in writing the reason for not operating the account for more than 10 years to the branch in the claim form.
  2. Branch will obtain sanction from the respective authorities for payment of unclaimed deposit by putting suitable recommendation and will pay the amount after due diligence and KYC compliance to the account holder.
Claim by nominee:
  1. Copy of death certificate of the account holder.
  2. Branch while processing the applications will verify the nominations and follow the Bank’s policy for claim settlement in case the claimant is a nominee.
Claim by the legal heir:
  1. Copy of death certificate of the account holder.
  2. Branch while processing the applications will meticulously follow the Bank’s policy for claim settlement of deceased depositor.
Claim of Non-individuals accounts (proprietorship, HUF and Company):
  1. For claim of non-individual accounts including proprietorship, HUF and company etc the Claim forms will be submitted on Company’s/firm’s letter head duly signed by authorized signatories along with valid identity proof.
  2. The claims will be settled by taking fresh KYC and issuing a pay-order in the name of the account.

Download:

Click here to download Form for Claiming the Unclaimed amount in Inoperative Account.

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com