There may be several situations when you would like to close your bank account. Some banks have a well-defined form for the same while other insist that you should write an application to close bank account. We have put down sample bank account closure letter which you can use to close your bank account without much hassles. You can make modifications as per your requirement.
Bank Account Closing Letter Format
Below is one of the formats of Application to Close Bank Account. You need to place your values in [x].
To, The Manager, [Bank name] [Branch Address] Date: [Write Date] Subject: Request for Closure of bank Account Number [Mention Account Number] Dear Sir/Madam, I [Account Holder Name] hold [type of Account – Savings/Current] Account Number [Mention Account Number] in your branch. I would like to close this account due to personal reasons. Here are the details: Account Holder Name(s) – [First Account Holder Name] [Second Account Holder Name] Account Number - [Mention Account Number] Address - [Mention Address] Mobile Number - [Mention Mobile Number] I am surrendering Passbook, ATM Card, unused cheque leaves along with the application. Request you to process this Thanking You [Signature & Name]
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Most banks today pay interest in the range of 2% to 3% on their savings account. However there are banks who can pay up to 7%. We have compared the interest rate offered by all banks in India across different balances here.
Bank Account Closure Letter
Below is another letter that you can use as Bank Account Closure Letter.
To, The Manager, [Bank name] [Branch Address] Date: [Write Date] Subject: Request for Closure of bank Account Number [Mention Account Number] Dear Sir/Madam, I [Account Holder Name] hold [type of Account – Savings/Current] Account Number [Mention Account Number] in your branch. I would like to close this account due to personal reasons. Here are the details: Account Holder Name(s) – [First Account Holder Name] [Second Account Holder Name] Account Number - [Mention Account Number] Address - [Mention Address] Mobile Number - [Mention Mobile Number] I am surrendering Passbook, ATM Card, unused cheque leaves along with the application. Request you to process this with immediate effect. Thanking You [Signature & Name]
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Bank Account Close Application In Hindi
If you are looking for bank account close application in Hindi, this would help you out.
सेवा मे, प्रबंधक, [बैंक का नाम] [शाखा का पता] दिनांक: [दिनांक लिखें] विषय: बैंक खाता संख्या [खाता संख्या लिखें] बंद करना प्रिय महोदय / महोदया, मैं [खाता धारक का नाम] अपनी शाखा में [प्रकार का खाता - बचत / चालू] खाता संख्या [खाता संख्या लिखें] रखता हूं। मैं व्यक्तिगत कारणों से इस खाते को बंद करना चाहूंगा। यहाँ विवरण हैं: खाता धारक का नाम - [पहला खाता धारक का नाम] [दूसरा खाता धारक का नाम] खाता संख्या - [खाता संख्या लिखें] पता - [पता लिखें] मोबाइल नंबर - [मोबाइल नंबर लिखें] मैं आवेदन के साथ पासबुक, एटीएम कार्ड, अप्रयुक्त चेक पत्तों को सरेंडर कर रहा हूं। आपसे यह प्रक्रिया करने का अनुरोध करता है धन्यवाद [हस्ताक्षर और नाम]
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Documents with Application to Close Bank Account
You may need to submit/show the photocopies of following documents along with application to close bank account:
- Identity Proof (Ex. Aadhar Card, Pan Card, Voter ID Card, Driving License).
- Address Proof (Ex. Aadhar Card, Voter ID Card, Passport, etc)
- PAN Card
- Original Passbook
- Cheque book with unused leaves
- ATM / Debit / Grid Card
Things to keep in Mind before closing Bank Account
There are following things to keep in mind before closing the account
- Withdraw all Money from the Account: You should withdraw or transfer all the money to other account. This helps as there would be no formality of getting a draft or cheque from the bank on closure of the account.
- Destroy the ATM/Debit/Grid Cards: You should cut the ATM or Debit card in 4 pieces and destroy it. You can also submit the cut debit card to the bank with application as it prevents any possible misuse.
- Preserve Previous Bank Statement and Cheque Book Leaves: Bank statements would serve a record of all your previous transactions. You should also keep a few leaves of cheque preserved as it helps when you want to change mandate of payment from this bank to other.
- Check you have changed records in your investments, income tax records: Most investments these days pay directly to your account. In case this was that account make sure it has been updated. Always check for what account have you mentioned in older investments. Also remember to update the same in your ITR and income tax records.
- Change your auto-debit: In case you had some loan EMI being paid from this bank account, make sure to update the same.
Do you Know about Hidden Charges in Banks?
Do you know you pay a few thousand rupees every year to hidden charges of banks. This could range from more known fines for not maintaining minimum balance amount to lesser know POSDEC charge of ICICI Bank. There could be charges for ATM usage, branch visits, cheque books and so on. Do read our article on Hidden Charges in Banks and what you can do about it?
Application to Close Bank Account FAQs
✅ Who should the Application to Close Bank Account be addressed?
The application for account closure should be addressed to the bank (branch) manager.
✅ What should be the reason stated in Application to Close Bank Account?
Be Honest, you can mention whatever is the true reason for closing the bank account in the bank account closure letter. Here are few common reasons:
I no longer need the bank account as I am banking with other banks and unnecessarily incurring a lot fees.
If you don’t want to disclose a good reason just say – I want to close the account due to personal reasons.
The other reason could be Unfriendly or rude staff, events of miss-selling, inconvenient location and so on.
✅ How long it takes to close the account?
Closure of account would vary from bank to bank. At times you can get immediate closure of account, others may take a week. But do remember to take the acknowledgment of the bank account closure letter you submitted.
✅ Is there any charges to close the bank account?
This varies from bank to bank. Some banks do charge for closing an account. However in most cases there is no fee if the account has operated for a long period of time.
✅ How can I close Axis Bank Account?
You can download the Axis Bank Account Closure Form and submit it to the relevant branch with required documents.