Closing Savings Bank Account: A Few Tips to Consider
Who Needs Savings Bank Account Closure Form?
Closing savings bank account is a regular procedure that a person goes through every now and then. In different countries the rules for closing bank account are pretty much the same. Generally the procedure is associated with paperwork. In India you will have to fill out Savings Bank Account Closure Form. You can either go to your branch and ask for the form or download it from bank website.
What is Savings Bank Account Closure Form for?
With the Bank Account Closure Form you specify the reason for closing your account and provide all documents required by the bank. When you’re done with all the paperwork, chances are your account will be successfully closed. The remaining funds on your account will be either transferred to another account or you will get cash or cheque depending on what method you will choose.
Is Savings Bank Account Closure From Accompanied by Other Forms?
To close your savings bank account in India you will have to provide some documents alongside the Savings Bank Account Closure Form. These are:
Your debit card
Document that proves your identity and address
Without these documents you won’t be able to close your account. Make sure you have all these documents and attach them to your closure form before submitting it.
When is Savings Bank Account Closure Form due?
There is no specific due date for savings bank account closure form. Once you’ve decided to close your bank account, take the form and fill it out.
How Do I Fill out Savings Bank Account Closure Form?
The form is simple consisting of one page. You should provide such information:
Data when you’re filling out the form
Your name and account number
Reason for closing your account
How you’d like your balance to be paid
Cheque book number if any
Data and signature
Where Do I Send Savings Bank Account Closure Form?
Once completed, submit your form to the bank.