Guide On How to Close HDFC Bank Account. How to close hdfc bank account with negative balance online. How to close hdfc bank salary account online. HDFC Bank Account Closure Form PDF 2023 Download
HDFC BANK ACCOUNT
A regulatory body governs the banking and financial institutions of a country. The Indian banking sector is controlled or managed by the RBI. Through the regulations, banks streamline their services and set several charges. Recently through government ruling, bank account holders need to have a specified balance on their account. The rule states that urban users need Rs.5000 while rural area users need Rs.3000.
Banks will charge account users who can save or reach the set maintenance charge. The move may not settle well for everyone in the country. To avoid fines, many people opt to close some bank accounts, shift to zero-balance accounts or settle for other banking options like e-wallets.
HDFC Account Closing Details
HDFC Bank is a large private sector Indian Banking and finance institute with multiple branches. The bank registers millions of customers each year, making it top best bank in India. HDFC Bank offers various services like:
- Loans (two-wheeler, personal, mortgage, and auto loans)
- Insurance policies,
- Mutual funds,
- Retail banking,
- Credit card
- Digital services
HDFC bank customers can register for different accounts based on their current and future needs. The bank provides different accounts, some with maintenance fees and others with zero balances. HDFC Bank is also open to closing bank accounts based on customer reasons. Venturing on the government’s maintenance fee rule, many HDFC bank clients may close their accounts. The bank will penalize any customer who can’t adhere to the rule. However, the customer may opt to close their account due to other reasons.
Other Reasons for Closing HDFC Bank Account
- If the customer has multiple bank accounts.
- Bad customer care experience.
- Suppose the customer is moving to another country.
- High charges on financial transactions.
- If the bank is not offering some services
- Bad relationship with a bank representative.
- If one cannot maintain the maintenance charge.
To close your HDFC bank account, the user must present various proof documents. The bank doesn’t have an online closing process. However, one can download the closure form online to fill and submit it to the nearest HDFC bank branch.
Important points before HDFC Closing Bank Account
Before closing the account, the user should do the following:
- Withdraw any amount on the account. The user can collect cash or transfer it to another account.
- The account user must clear any loan associated with the account.
- The user should detach any credit card or payment linked to the card.
- The user must present all the bank documents like a chequebook, credit card, and debit card.
- For future use, the customer should get a bank statement related to the account.
How to Close HDFC Bank Account
- Open the HDFC bank website page link
- And download the closure form.
- The account holder can also visit the HDFC bank branch and request for closure form.
- Fill in mandatory information, and sign the form after completion.
- Next, attach the required KYC documents: identity and address proof documents.
- Review your form and documents; if correct, submit the form to the bank manager or officer in charge.
- The officer will review, verify and approve the request.
- After approval, submit bank documents, cheques, credit cards, debit cards, and other bank-related details.
- Next, withdraw your funds; once done, the bank will close the account permanently.
The closure process is free if the user closes an account within 14 of opening to 12 months and after. However, the bank will charge if the user has unpaid an account balance/maintenance charge. Notably, HDFC bank users can check for an HDFC bank account with zero balance to continue accessing banking services.
HDFC Bank Account Closure Form PDF Download
Does HDFC Bank have an online closure process?
No, the customer must visit the bank branch to complete the request.
What happens when I cannot maintain my account balance?
The bank will penalize your account based on the type of account and location. However, you can close the account and request the bank for a zero-balance account.