Categories
Banking

Procedure To Close Bank Account |Application | Charges (Public/Private)

Many of you want to close your bank account but don’t know the procedure to close bank account. You will get the complete details related to the same from this page only. First of all, you need to know that there is no online procedure till yet to close your bank account you require to do it via offline procedure only both for public as well as private banks.  The bank will ask you pay charges for the same. The complete details with detailed procedure have been provided by our team on the below section of this page. 

Points To Remember Before Closing The Bank Account:

  • You require to submit the application to close your debit card, credit card and have to surrender the same with your bank branch.
  • In case you don’t operated your bank account for more than 02 years then in that case you have to submit the application to re-open the bank account and later you have to fill the application form to close the same. 
  • Must assure to keep ready all the required documents which have to be submitted while filling the application form for the account closing. 
  • Stop all automatic debits first from your bank account
  • In case of the joint account, both the account holder has to be present for submit the application. While it might be possible that the bank may ask you for the No Objection Certificate (NOC).
  • Clear all the balance of the account you can withdraw all the money or transfer the same to another account. 
  • Pay all the due charges. 

Procedure To Close Bank Account

  • First of all, visit to the bank branch in which you have an account.
  • Now meet the appropriate bank person and tell him/her that you want to close your account.
  • He/she will tell you all the terms and conditions and give you the application form for the account closing. 
  • Now fill the application form must assure to provide all the correct details.
  • Submit the filled form with you signature and required documents.
  • If you have passbook, debit, credit card the surrender the same to the bank. 
  • Now you will ask to pay the due/ pending charges, if any.
  • After that you will ask to pay the account closing charges. The SBI charges to close the bank account is Rs 500 + GST. The charges will differ from every bank as per the rules. 
  • Finally, the procedure to close the bank account has been completed, and your account will be close within few days.
  • The bank will also send you a SMS related to closing to your registered email id and mobile number.

Bank Account Closing Charges 

The different banks will charge different charges as per the rules here for the example we are providing you the bank account closing charges of SBI

PeriodCharges
Upto fourteen (14) days of account opening No charges 
After fourteen (14) days till the 01 year of account openingRs. 500+GST
Afater the  01 year of account openingNIL
Accounts closed in case of deceased depositorsNIL
closing Regular SB account by BSBD account holdersNIL