Crores of people are taking advantage of banking services in the country. To connect the people living in poor and marginal areas with banking services, the Government of India is running a wonderful scheme called Jan Dhan Yojana. Today many people are taking advantage of banking services. People should not face any kind of problems while availing of banking services. In such a situation, many rules have been made for the people. Many times people do not do transactions in their bank account for a long time. If you do not do any kind of transaction in the bank for ten years. In this case, the amount of money deposited in the bank. They are put in the category of unclaimed amounts. This money is transferred to the Depositary Education and Awareness Fund. In such a situation, the question is, can the money be withdrawn from a closed bank account?
If you do not do any kind of transaction in your bank account for two years. In this case, your bank account is deactivated.
If you have any type of account like Savings, RD, FD, or Current. All those accounts become inactive if there is no transaction of any kind for two years.
If your account remains inactive for 8 years. In this case, the amount deposited in your account is considered an unclaimed amount by the bank. Wherein if your account has been deactivated. In this case, you can easily withdraw money from your inactive account.
Sometimes the bank holder dies. In such a situation, the nominee can withdraw the money deposited in the bank by showing ID proof. If the nominee is not added to the account of the deceased person. In such a situation, the succession certificate will have to be shown to withdraw the money deposited in the bank.
(PC: Freepik)
