ICICI Bank Has ₹2,013.41 Crore in Unclaimed Deposits: Here’s How You Can Reclaim Your Money

Unclaimed bank deposits have become a growing concern across India, with thousands of crores lying idle due to inactive accounts. 

As per official data, ICICI Bank alone accounts for ₹2,013.41 crore in such deposits. 

These funds typically arise when accounts remain unused for long periods.

Understanding the reasons behind unclaimed deposits and the recovery process can help individuals reclaim money that rightfully belongs to them.

Rise in Unclaimed Bank Deposits in India

According to data shared by the Ministry of Finance, unclaimed deposits across Indian banks have increased significantly in recent years. 

The total amount transferred to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund stood at ₹74,580.25 crore as of 31 March 2025, compared to ₹31,640.05 crore in 2021. 

Deposits are classified as unclaimed when savings or current accounts remain inoperative for ten years or more.

ICICI Bank’s Share of Unclaimed Funds

Among major banks, ICICI Bank has contributed ₹2,013.41 crore to the DEA Fund, accounting for around 2.70% of the total balance.

These funds are transferred only after prolonged inactivity and do not cease to belong to the original account holders.

What Is the RBI’s DEA Fund

The DEA Fund was established by the RBI in 2014 to consolidate unclaimed balances from commercial and co-operative banks. 

The fund also supports depositor education and awareness initiatives. Importantly, transferring funds to the DEA does not extinguish the depositor’s right to claim the money at any point in time.

How to Reclaim Unclaimed Deposits

Reclaiming unclaimed money is a defined and accessible process. Account holders or their legal heirs need to approach the concerned bank branch with a written claim request.

Identity and address proof, such as Aadhaar or voter ID, along with evidence of account ownership, are required. 

Once verification is completed, the bank processes the refund. There is no time limit prescribed by the RBI for submitting such claims.

Refunds Processed Through the DEA Fund

Between the financial years 2020–21 and 2024–25, the DEA Fund reimbursed banks a total of ₹10,403.08 crore. 

The highest reimbursement was recorded in FY 2022–23.

These reimbursements enable banks to settle claims made by customers for accounts that had previously been categorised as unclaimed.

Read More: PNB Has ₹6,555 Crore in Unclaimed Deposits: Here’s How to Reclaim Your Money.

Conclusion

The presence of over ₹2,013 crore in unclaimed deposits with ICICI Bank highlights the importance of monitoring bank accounts and maintaining updated records. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.