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Forgot to withdraw money after FD maturity? Know how much interest you get
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News18•19-10-2026, 16:02
Forgot to withdraw money after FD maturity? Know how much interest you get
- •Fixed Deposit returns depend on the instructions given to the bank at the time of opening, such as auto-renewal or direct transfer.
- •If you do not withdraw the matured FD amount, RBI rules state that you will receive the interest rate of the savings account or the matured FD rate, whichever is lower.
- •If an amount remains unclaimed for 10 years or more, it is transferred to the RBI's Depositor Education and Awareness Fund, though it can still be claimed by legal heirs.
- •Depositors can check for unclaimed deposits across various banks using the RBI's UDGAM portal.
- •Evaluate your financial needs before choosing to renew your FD or withdraw the funds to manage your expenses effectively.
Key Questions Answered
According to RBI rules, if an FD matures and remains unpaid, it will earn the lower of either the applicable savings account interest rate or the contracted interest rate of the matured FD for the overdue period.
If an amount deposited in a bank remains unclaimed for 10 years or more from the date of maturity, it is transferred along with applicable interest to the Reserve Bank of India's Depositor Education and Awareness Fund. Depositors or their legal heirs can still claim these funds back through the bank.
Information regarding unclaimed deposits and old fixed deposits across different banks can be easily checked online using the Reserve Bank of India's UDGAM portal.
