How to Close HDFC Bank Account: A Step-by-Step Guide
How to Close HDFC Bank Account: A Step-by-Step Guide
Mar 22, 2024
15 Mins
How to Close HDFC Bank Account: A Step-by-Step Guide
August 19, 2023
Closing an HDFC bank account can be simple if you follow the necessary steps. HDFC provides customers with the option to close their account if they wish to switch banks or no longer require multiple accounts. This comprehensive guide will provide all the information you need to smoothly close your HDFC account.
HDFC Bank is one of India's leading private banks, offering a variety of financial products including savings accounts, current accounts, loan products, credit cards, and more. As per RBI guidelines, HDFC customers are required to maintain a specific average monthly balance in their accounts to avoid penalty charges. The minimum balance is Rs 5,000 for accounts in metro cities and Rs 3,000 for rural accounts.
Maintaining multiple bank accounts can make it challenging to meet the required minimum balance in each account. Closing unused or idle HDFC accounts can help alleviate this issue. If you are shifting to another bank or no longer need your HDFC account, it is advisable to close it. The process to permanently close an HDFC account is straightforward if you follow the step-by-step procedure outlined below.
When is the Best Time to Close your HDFC Account?
The charges associated with closing an HDFC account depend on the length of time the account has been active:
- Within 14 days of account opening: No closure charges
- Between 15 days and 12 months: Closure fee of Rs 500 (Rs 300 for senior citizens)
- After 12 months: No closure charges
Therefore, it is recommended to close the account within two weeks or after one year of opening to avoid closure fees. Customers who wish to switch to another bank can open a new account first and then close their HDFC account after 12 months when there are no charges.
Step-by-Step Guide to Close HDFC Bank Account
Follow these key steps to smoothly close your HDFC savings, current, or another type of account:
1. Transfer Out Any Positive Balance
Before initiating the closure process, withdraw or transfer out the entire balance from your HDFC account. You can transfer funds via NEFT, RTGS, IMPS, or UPI to another active bank account you hold. Ensure that you have depleted the entire balance and the account shows a zero balance.
2. Download HDFC Account Closure Form
Access the HDFC account closure form from the official website or obtain it from the nearest HDFC branch. The form will require you to provide personal details such as your name, account number, reason for closure, etc.
3. Fill All Closure Form Details
Thoroughly fill in all the required information in the account closure form. Accurately provide personal details such as your name, contact information, and account number. Double-check for any errors before submitting the form.
4. Submit Documents at HDFC Branch
Visit the nearest HDFC bank branch with the duly filled account closure form. You must submit photocopies of KYC documents such as Aadhaar, PAN card, and voter ID as proof. Carry the original KYC documents as well for verification if necessary.
5. Handover Cheque Book, Debit Card, and Passbook
When submitting the account closure form, hand over the account chequebook, debit card, and passbook to the branch representative. This completes the bank's record-keeping process related to your account.
6. Obtain Acknowledgment Receipt
The HDFC branch executive will verify all the documents and provide you with an acknowledgment receipt for your account closure request.
7. Wait for the Account to Close in 10 Days
HDFC will process the request and close the account within approximately ten working days after form submission. The account will be permanently closed within this duration.
Points to Note Before Closing HDFC Account
Before submitting the account closure request, it is essential to:
- Open an alternate bank account to transfer your funds before closing your HDFC account.
- Disable any auto-payments linked to the HDFC account debit card or UPI to avoid any disruptions.
- Obtain printouts of the latest account statements for future reference.
- Settle any pending charges or dues to bring the account balance to zero.
By following these steps, you can ensure a smooth transition when closing your HDFC bank account.
Frequently Asked Questions on Closing HDFC Account
Here are some commonly asked questions regarding closing an HDFC bank account:
Q: Can I close my HDFC account online?
A: Currently, HDFC does not offer the option to close an account digitally or online. You must submit the account closure form at an HDFC bank branch.
Q: What are the charges to close an HDFC account before one year?
A: If you close the HDFC account after 15 days but before completing one year, closure fees of Rs 500 (Rs 300 for senior citizens) apply.
Q: How to close an HDFC account with a negative balance?
A: First, clear the negative balance by transferring funds into the account. Once the account has a zero balance, submit the closure request at the branch.
Q: Is there a way to close an HDFC savings account online?
A: No, closing savings and current accounts require visiting the HDFC bank branch. There is no online closure facility available yet.
Q: Can I reopen a closed HDFC account?
A: No, it is not possible to reopen a closed HDFC account. You must open a new account by submitting the account opening form online or at a branch.
Q: How long does HDFC typically take to close an account?
A: HDFC closes accounts approximately ten working days after receiving a physical request at the branch.
Q: What documents do I need to submit to close my HDFC account?
A: You must submit the account closure form, photocopies of KYC documents such as Aadhaar, PAN, and Voter ID, as well as the originals for verification. Additionally, submit the account chequebook, debit card, and passbook.
Q: Can I get contact support for any issues while closing my HDFC account?
A: If you encounter any issues while closing your account, you can contact HDFC customer care at 1800-227-227 or reach out to the branch manager. The bank's executives will assist you.
Conclusion
We hope that this detailed guide, which covers the entire process, required documents, associated charges, and other important aspects, helps you quickly close your HDFC bank account. Remember to transfer funds, download the form, fill in the details accurately, visit the nearest branch, submit the documents, and collect the receipt. If you face any issues, feel free to contact HDFC customer care for a speedy resolution.
How to Close HDFC Bank Account: A Step-by-Step Guide
August 19, 2023
Closing an HDFC bank account can be simple if you follow the necessary steps. HDFC provides customers with the option to close their account if they wish to switch banks or no longer require multiple accounts. This comprehensive guide will provide all the information you need to smoothly close your HDFC account.
HDFC Bank is one of India's leading private banks, offering a variety of financial products including savings accounts, current accounts, loan products, credit cards, and more. As per RBI guidelines, HDFC customers are required to maintain a specific average monthly balance in their accounts to avoid penalty charges. The minimum balance is Rs 5,000 for accounts in metro cities and Rs 3,000 for rural accounts.
Maintaining multiple bank accounts can make it challenging to meet the required minimum balance in each account. Closing unused or idle HDFC accounts can help alleviate this issue. If you are shifting to another bank or no longer need your HDFC account, it is advisable to close it. The process to permanently close an HDFC account is straightforward if you follow the step-by-step procedure outlined below.
When is the Best Time to Close your HDFC Account?
The charges associated with closing an HDFC account depend on the length of time the account has been active:
- Within 14 days of account opening: No closure charges
- Between 15 days and 12 months: Closure fee of Rs 500 (Rs 300 for senior citizens)
- After 12 months: No closure charges
Therefore, it is recommended to close the account within two weeks or after one year of opening to avoid closure fees. Customers who wish to switch to another bank can open a new account first and then close their HDFC account after 12 months when there are no charges.
Step-by-Step Guide to Close HDFC Bank Account
Follow these key steps to smoothly close your HDFC savings, current, or another type of account:
1. Transfer Out Any Positive Balance
Before initiating the closure process, withdraw or transfer out the entire balance from your HDFC account. You can transfer funds via NEFT, RTGS, IMPS, or UPI to another active bank account you hold. Ensure that you have depleted the entire balance and the account shows a zero balance.
2. Download HDFC Account Closure Form
Access the HDFC account closure form from the official website or obtain it from the nearest HDFC branch. The form will require you to provide personal details such as your name, account number, reason for closure, etc.
3. Fill All Closure Form Details
Thoroughly fill in all the required information in the account closure form. Accurately provide personal details such as your name, contact information, and account number. Double-check for any errors before submitting the form.
4. Submit Documents at HDFC Branch
Visit the nearest HDFC bank branch with the duly filled account closure form. You must submit photocopies of KYC documents such as Aadhaar, PAN card, and voter ID as proof. Carry the original KYC documents as well for verification if necessary.
5. Handover Cheque Book, Debit Card, and Passbook
When submitting the account closure form, hand over the account chequebook, debit card, and passbook to the branch representative. This completes the bank's record-keeping process related to your account.
6. Obtain Acknowledgment Receipt
The HDFC branch executive will verify all the documents and provide you with an acknowledgment receipt for your account closure request.
7. Wait for the Account to Close in 10 Days
HDFC will process the request and close the account within approximately ten working days after form submission. The account will be permanently closed within this duration.
Points to Note Before Closing HDFC Account
Before submitting the account closure request, it is essential to:
- Open an alternate bank account to transfer your funds before closing your HDFC account.
- Disable any auto-payments linked to the HDFC account debit card or UPI to avoid any disruptions.
- Obtain printouts of the latest account statements for future reference.
- Settle any pending charges or dues to bring the account balance to zero.
By following these steps, you can ensure a smooth transition when closing your HDFC bank account.
Frequently Asked Questions on Closing HDFC Account
Here are some commonly asked questions regarding closing an HDFC bank account:
Q: Can I close my HDFC account online?
A: Currently, HDFC does not offer the option to close an account digitally or online. You must submit the account closure form at an HDFC bank branch.
Q: What are the charges to close an HDFC account before one year?
A: If you close the HDFC account after 15 days but before completing one year, closure fees of Rs 500 (Rs 300 for senior citizens) apply.
Q: How to close an HDFC account with a negative balance?
A: First, clear the negative balance by transferring funds into the account. Once the account has a zero balance, submit the closure request at the branch.
Q: Is there a way to close an HDFC savings account online?
A: No, closing savings and current accounts require visiting the HDFC bank branch. There is no online closure facility available yet.
Q: Can I reopen a closed HDFC account?
A: No, it is not possible to reopen a closed HDFC account. You must open a new account by submitting the account opening form online or at a branch.
Q: How long does HDFC typically take to close an account?
A: HDFC closes accounts approximately ten working days after receiving a physical request at the branch.
Q: What documents do I need to submit to close my HDFC account?
A: You must submit the account closure form, photocopies of KYC documents such as Aadhaar, PAN, and Voter ID, as well as the originals for verification. Additionally, submit the account chequebook, debit card, and passbook.
Q: Can I get contact support for any issues while closing my HDFC account?
A: If you encounter any issues while closing your account, you can contact HDFC customer care at 1800-227-227 or reach out to the branch manager. The bank's executives will assist you.
Conclusion
We hope that this detailed guide, which covers the entire process, required documents, associated charges, and other important aspects, helps you quickly close your HDFC bank account. Remember to transfer funds, download the form, fill in the details accurately, visit the nearest branch, submit the documents, and collect the receipt. If you face any issues, feel free to contact HDFC customer care for a speedy resolution.
Author
Pluto Team
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