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New Delhi: Maintaining monitor of quite a few charges and minimal stability necessities when managing a number of accounts is usually a nuisance. Many individuals select to shut further accounts as a way to reduce non-maintenance charges, however doing so can even incur a separate set of penalties.
Here’s a breakdown of account closure charges for varied well-known Indian banks, as per The Financial Instances.
HDFC Financial institution Financial savings Account Closure Fees
– For those who choose to shut your financial savings account inside 14 days of opening, you do not have to pay any prices for it.
– If you’re planning to shut the account inside 15 days to as much as 12 months of opening, then you’ll have to pay Rs 500 cost and the senior residents need to pay Rs 300 for a similar.
– If you need to shut the financial savings account after 12 months of opening, right here you might be exempted from prices. It means you do not have to any prices for closing it.
SBI Financial savings Account Closure Cost:
– Right here additionally, if you happen to choose to shut the account after 1 yr from the opening date, you do not have to pay any prices.
– You’re liable to pay a Rs 500 cost excluding GST if you’re going to shut the account inside 15 days to 1 yr of opening.
ICICI Financial institution Financial savings Account Closure Fees:
– The financial institution does not levy any prices if you happen to shut your account inside 30 days of opening.
– The financial institution prices Rs 500 for closing your financial savings account in case you are closing it after 30 days to 1 yr.
– You possibly can shut your financial savings account for utterly free in case you are closing it after 1 yr of opening.
Sure Financial institution Financial savings Account Closing Fees:
– If you’re closing the account which is opened between 30 days to 1 yr, you need to pay a Rs 500 charge.
– You’re free from any prices in case you are closing it in any other case the above-mentioned timeline.
Punjab and Sindh Financial savings Account Closing Fees:
– It’s important to pay Rs 300 to Rs 500 if you’re going to shut the account that’s opened between 14 days to 1 yr of opening.
– No any prices in any other case.
