Can I close my HDFC savings account?

In Order to close your HDFC bank Account, you have to visit your nearest branch where you can ask for the account closure form. After obtaining the form fill all of the requirements and submit the form to the bank executive along with Debit Card, Passbook, and CheckBook.

What is charges for closing saving account?

Charges on closing bank accounts Earlier, SBI charged Rs 500 if the account was closed even after a year of being opened. However, if the account is closed within one year, a fee is applicable upon closure. So, any account closed after 14 days and before 1 year of the date of opening is might be charged a closure fee.

How can I close my HDFC Bank account with negative balance?

To close your account in an easy way, ensure that you drain out all the funds parked in your account. The easiest way to do this is through net banking. Simply transfer all the money to some other account through NEFT, RTGS or IMPS. The balance in your account should be Zero.

What is account closure transaction?

Closing an account revokes the business connection for the account between the customer and your bank. This process involves a series of tasks such as clearing the remaining account balance, account balancing, and finally setting the account status enhancement to Closed .

Do you get penalized for closing a bank account?

The good news is that, unlike closing a credit card account, closing a bank account generally won’t hurt your credit score. If the bank decides to send this debt you owe to them to a collection agency, it could go reported to the credit bureaus.

What if minimum balance is not maintained in HDFC Bank?

For savings account in metro cities, HDFC Bank may charge you as much as 600 rupees for not maintaining the minimum balance. With service Tax and other cess, the amount is more than Rs 600. If the shortfall is 50 per cent or less of the MAB, then the bank will charge Rs 50 plus service tax.

What is a bank closure?

Noun. 1. bank closing – act of closing down a bank because of a fiscal emergency or failure. closedown, shutdown, closing, closure – termination of operations; “they regretted the closure of the day care center”

Is closing a savings account bad?

As long as you keep at least one account open, and the account you’re closing is in good standing, then there won’t be any negative effects when you close a bank account. Closing credit accounts—like credit cards—can hurt your credit score, but that doesn’t apply to standard deposit accounts.

Are there any charges for closing the HDFC bank account?

Are there any charges for closing the HDFC bank account? If the account is closed within 14 days of opening or beyond 12 months of opening, no charges will be levied. If the account is closed between 15 days and 12 months of opening a charge of Rs.500 will be levied (Rs 300/- for Senior Citizens).

How do I get rid of minimum balance charges in HDFC?

The easiest way to get rid of minimum balance charges is by maintaining balancing or closing your account. The Account closure process is pretty easy you just have to follow some steps. If you’re searching for How to Close HDFC account then here is how you can do it. Can I close my HDFC account? Can we close the bank account online?

How to get rid of minimum balance charges in bank accounts?

If you have multiple accounts in other banks then it might hard to keep the minimum account balance in all the bank accounts. The easiest way to get rid of minimum balance charges is by maintaining balancing or closing your account. The Account closure process is pretty easy you just have to follow some steps.

When will service/transaction charges be applied?

Service/Transaction charges will be applied in the current month based on the AMB maintained in the account in the previous month Service/Transaction charges based on non – maintainence of AMB (as specified above) do not apply to Preferred , Corporate Salary & SuperSaver customers All fees and charges are exclusive of taxes.

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