Axis Bank Account Closure: A Step-by-Step Guide

Axis Bank Account Closure: A Step-by-Step Guide

Introduction:

Axis Bank, renowned as one of India's top private banks, often sees its customers opening salary accounts with them. These accounts, known as zero balance accounts, allow individuals to withdraw funds without maintaining a minimum balance. However, when leaving a job, this convenience can turn into a hassle.

If a salary is not credited to the bank for three consecutive months, the account is converted into a normal savings account, requiring a specific minimum balance. For urban branches, this minimum balance is set at Rs 10,000. Failing to maintain this balance results in penalties, with a certain amount deducted from the account each month.

To avoid these charges, one option is to maintain the required minimum balance. However, if that is not feasible, it is crucial to promptly close your Axis Bank account. This article provides a step-by-step guide on closing both savings and current accounts with Axis Bank.

Firstly, if any funds remain in the account, the initial step is to reduce the balance to zero. Money can be withdrawn through an ATM or transferred to another bank account using the NEFT service.

Once all funds are withdrawn, visiting the bank branch allows you to obtain an account closure form. It is important to bring your passbook, debit card, checkbook, and an ID proof for this visit. Saving photocopies of these documents is advisable for future reference.

Additionally, the account closure form can be downloaded from the internet, ensuring a smoother branch visit. By following the link provided, users can access the PDF version of the closure form and print it at their convenience.

After filling out the closure form, submit it to a bank executive along with the aforementioned documents. In most cases, the bank will return the passbook for personal records. The bank executive will then provide an acknowledgment slip confirming the account closure.

The closure process usually takes around 10 working days, with the bank sending a confirmation message to the account holder. For any queries or issues during this process, customers can contact the Axis Bank customer care toll-free number at 1860 419 5555.

It is important to note that closing an Axis Bank account online is not currently possible. However, the closure form can be downloaded online to expedite the process.

Introduction:

Axis Bank, renowned as one of India's top private banks, often sees its customers opening salary accounts with them. These accounts, known as zero balance accounts, allow individuals to withdraw funds without maintaining a minimum balance. However, when leaving a job, this convenience can turn into a hassle.

If a salary is not credited to the bank for three consecutive months, the account is converted into a normal savings account, requiring a specific minimum balance. For urban branches, this minimum balance is set at Rs 10,000. Failing to maintain this balance results in penalties, with a certain amount deducted from the account each month.

To avoid these charges, one option is to maintain the required minimum balance. However, if that is not feasible, it is crucial to promptly close your Axis Bank account. This article provides a step-by-step guide on closing both savings and current accounts with Axis Bank.

Firstly, if any funds remain in the account, the initial step is to reduce the balance to zero. Money can be withdrawn through an ATM or transferred to another bank account using the NEFT service.

Once all funds are withdrawn, visiting the bank branch allows you to obtain an account closure form. It is important to bring your passbook, debit card, checkbook, and an ID proof for this visit. Saving photocopies of these documents is advisable for future reference.

Additionally, the account closure form can be downloaded from the internet, ensuring a smoother branch visit. By following the link provided, users can access the PDF version of the closure form and print it at their convenience.

After filling out the closure form, submit it to a bank executive along with the aforementioned documents. In most cases, the bank will return the passbook for personal records. The bank executive will then provide an acknowledgment slip confirming the account closure.

The closure process usually takes around 10 working days, with the bank sending a confirmation message to the account holder. For any queries or issues during this process, customers can contact the Axis Bank customer care toll-free number at 1860 419 5555.

It is important to note that closing an Axis Bank account online is not currently possible. However, the closure form can be downloaded online to expedite the process.

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