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.
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]
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.
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]
Fixed Deposit with Banks is one of the most popular and convenient investment option. To help you choose the best, we compare the interest rates on fixed deposit across all major 48 banks in India including government, private, foreign and small financial banks in India every month. This may prove to be quite handy for you in choose the Best Bank FD scheme.
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]
We looked at more than 55 years history of gold to see if its a good idea to invest in Gold. We concluded that its more volatile than perceived but investing in long term may provide you with more stable returns. You can look at the complete analysis and our conclusion here – Looking at Gold Price History in India – Should you Invest in Gold?
You may need to submit/show the photocopies of following documents along with application to close bank account:
There are following things to keep in mind before closing the account
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?
The application for account closure should be addressed to the bank (branch) manager.
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.
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.
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.
You can download the Axis Bank Account Closure Form and submit it to the relevant branch with required documents.
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