Saving Account – If you also want to close your savings account, then this news is for you. Actually, today in this news we are going to give you some important information related to saving account. In such a situation, let us first know in this news how much is charged in which bank for closing the savings account…
Banking Tips: Maintaining multiple bank accounts can be difficult, confusing and involve lots of fees and minimum amount requirements. Most people choose to close more than one bank account rather than keeping it and paying non-maintenance fees, but doing so also incurs fees.
Bank account holders are also charged fees when a bank account is closed within a certain time frame. Here are the charges for closing savings accounts as per the official websites of some big banks…
HDFC bank-
HDFC Bank will not charge any fee for closing the account within 14 days of opening. If the account is closed between 15 days to 12 months, the bank will charge Rs 500 (Rs 300/- for senior citizens), if the account is closed for more than 12 months, the bank will not charge any fee.
SBI-
SBI does not levy any fee on account holders who close their bank accounts after one year. If the SBI account is closed within 15 days to one year, the account holder will be responsible for the charges; Account closure fee for savings accounts is Rs 500 plus GST.
ICICI Bank-
ICICI Bank will not charge any fee for closure in the first 30 days. Rs 500 will be applicable for the next 31 days to one year and there will be no charges for closing the account after one year.
Canara Bank-
Canara Bank will not charge any fee for closure in the first 14 days. For account closure more than 14 days and within 1 year, Rs 200 plus GST will be applicable and for account closure after one year, Rs 100 plus GST will be applicable.
Yes Bank-
Yes Bank will not charge any fee if the account is closed within the first 30 days of account opening or after 1 year of account opening. Apart from this, if the account is closed then Rs 500 will be charged.
Punjab and Sindh Bank-
Punjab and Sindh charges Rs 300 to Rs 500 for closing after 14 days but within 12 months from the date of opening. No charges will be levied on any type of account closed due to death of the account holder.
How to close bank account?
To close the bank account, bank account holders will have to write a letter to the bank branch manager, stating the reason for closure and will have to return the passbook, check and debit related to the account. Account closure form will also be available with the bank, select the reason for closure from the options.
Note that all account holders must sign the form. To complete the branch closure process, account holders will have to visit most banks in person. If the account is linked to any loan account or bill payment then it is necessary to de-link it.
