Key Points
A bank account, whether it's a savings or current account, becomes dormant if there are no..
There are no fees for reactivating dormant accounts, and banks cannot impose penalties for not maintaining minimum balances in such accounts..
It's important to note that banks must still pay interest on savings accounts regularly, regardless of whether the account is active or not...
Money left untouched in a bank account for ten years or longer, or funds remaining unclaimed for the same period, are termed unclaimed deposits..
To keep your account active and avoid any issues, it's important for account holders to make transactionseither financial or non-financialregularly, at least once a year..
