Father-Grandfather's Stuck Money: Many people's forefathers' money is stashed in banks, post offices, insurance companies, or in shares. The government's online portal has now made it easy to locate this hidden money. Learn how.

Father-Grandfather's Stuck Money: Some people's forefathers are very wealthy. But as they age, they lose track of where they invested their money. Investments made in banks, post offices, insurance companies, or other financial institutions are often forgotten, and it's only years later that the family discovers that the money is locked in. Sometimes, after the account holder's death, their heirs don't even know about it.

If you're wondering if your forefather's money is stuck, it's now easy to find out. You can find out where the money is through online websites and government portals. Let us tell you how you can find out where their money is and how to get it back.

How to find money stuck in a bank or insurance policy?

If your father or grandfather has money stashed in an old bank account or insurance policy, the Reserve Bank has launched the UDGAM portal to find it. You can enter the account holder's name, date of birth, and PAN number to check if there is any unclaimed amount.

Similarly, the websites of LIC and other insurance companies also have an unclaimed amount section. Information can be obtained by entering the policy number. If the record matches, you can claim the money by visiting the relevant bank or company and submitting your KYC and documents.

Also check shares, mutual funds, or post office deposits.

Many people do not claim shares, dividends, or mutual fund deposits. SEBI has created the IEPF (Investor Education and Protection Fund) portal for this purpose. Where you can search by name or PAN to determine if any old investments are lying unspent.

If so, you can transfer the money to your account by filling out an online form and providing the necessary documents. You can get information about deposits held at post offices from the relevant branch or the India Post website. So, if you suspect any money is lying unspent, be sure to investigate.