Here is the full list of unclaimed money accounts in PPF, NSC, other Post Office savings programs

Post Office Schemes (commonly known as Small Savings Plans) like the Public Provident Fund, the National Savings Certificate, and the Senior Citizens’ Saving Scheme have been popular with fixed income investors for quite some time. This is because they are relatively safe due to the government support as well as the tax benefits available on some of the plans. However, these accounts sometimes go unclaimed for years. This can happen for a number of reasons, including: the account holder dies without informing the heirs of the existence of the investment or the senior has lost the investment / account papers / passbook and has no other trace of it.

It should be noted that the money from all these unclaimed accounts is transferred to the Elderly Protection Fund (which was launched by the government in 2016). According to the rules of the Elderly Protection Fund, 2016, unclaimed amounts will be transferred from small savings and other central government savings schemes, including post office savings accounts, deposit accounts recurring, term deposit accounts, monthly income scheme, the elderly ‘Savings plan accounts, Kisan Vikas Patra, national savings certificates, Sukanya Samriddhi accounts and abandoned small savings plans.

In accordance with the rules of the Fund for the Elderly, “Notwithstanding any provision to the contrary contained in any other applicable law, any credit balance on any of the accounts under the following schemes remaining unclaimed for a period of seven years from the date of date of its declaration as inoperative account are transferred by the respective institution which holds them, to the Fund.

(In accordance with the Fund for the Elderly rule, “inoperative account” means an account under one of the schemes specified by or under subsection (2) of section 122 and not operated for a period of three years if operated on a regular basis, or if there is an expiration date, from the expiration date, as the case may be.)

According to the rules of the Contingency Fund, before transferring the money, the institutions will try to contact each of the account holders of the unclaimed amount, including by written notification, email and telephone, twice within 60 days. as of September 30 of each fiscal year. The institution will post the list established for the general information of the public, on the notice boards of the offices concerned and on the website of the institution concerned for at least a period of 60 days, inviting complaints, as the case may be. appropriate.

The India Post publishes a list of these small unclaimed savings accounts on their website every year.

How to Find Details of Small Unclaimed Savings Accounts on India Post website

Visit India Post website and click on “Banking and Remittance”. On this page, select Postal Savings Plan. And then select Senior Citizen Welfare Fund.

You will get a list based on accounts like Savings Bank, PPF, Kisan Vikas Patra etc. and once you click on the account type you will find the account details by state.

Click here for the list of unclaimed PPF accounts for 2019 in Delhi.

How does the provident fund work?

According to the provident fund rules, on an annual basis, the institution (in this case the post office) must identify unclaimed funds and make deposits to the fund no later than March 1 of each year.

“Transfers by the Institutions will be made on a net basis, namely unclaimed deposits less receivables accepted in accordance with the law in force, accounts whose balances have already been transferred to the Fund”, as per rule.

Also Read: Rs 82,000 Crore Lying In Unclaimed Bank Air Conditioners, Life Insurance, Mutual Funds, PF: How To Get Your Money Back