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What’s the Procedure for Closing a Bank Account in India?

April 15, 2021

What’s the Procedure for Closing a Bank Account in India?

It goes without saying that there are numerous benefits of having a bank account. In fact, most people have multiple bank accounts. However, at times, a person may want to close their bank account for reasons such as bad experience with the staff, migration to another state or country, etc.

But decided to close the account, and it will be close in a blink of an eye, is not the case. If you want to close your bank account, you have to follow certain process and steps:

1] The first thing you need to do is pay a visit to your bank and ask for an account closure form.

Fill out the form by providing the basic details such as

  • The accounts holder’
  • Reason for Closing the Accounts name,
  • Account number
  • Contact Number
  • Signature of the account holder

2] Collect all the documents that you have received from your bank. These include:

  • Passbooks
  • Credit cards
  • Debit cards
  • Cheque-book

You will need to surrender all these during the official closure of your bank account.

3] You may also need to submit the Xerox copies of the documents that serve as proof of ID, address, etc.

4] The submitted documents and account closure form will be sent to the home bank branch. Once the formalities have been taken care of your account will be closed permanently and the remaining balance (if any) will be sent to you.


Banks don’t charge for closure within 14 days of opening an account. Any closure of the account after 14 days but before 1 year may be subject to account closure charges. Normally, closure of an account after 1 year is not subject to closure charges.

Note: If your current balance in the said bank account is above zero then you will get it back. However, if the balance is minus, or below zero, then you will need to pay the applicable fines along with the difference of balance.

Note: You will get to choose the means of receiving the remaining balance in your account such as by cash, cheque/draft, or transfer to another bank account, etc. when you are filling out the account closure form.

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