Bank Account Closure Charge: If there is more than one bank account, if you want to close a bank account, then the bank will deduct the charge according to how long your account has been opened. For example, if you close a bank account within one year of opening an account, you may have to pay a fee in the form of account closure charges. How much this fee will be payable depends on which bank your account is in and how long after opening the account you are closing it.
Usually, in almost all banks, no fee is charged for closing the account after one year of opening the account, but all banks charge separately for closing the account for less than one year. It is important to know here that the Central Bank Reserve Bank of India (RBI) has not given any specific guidelines regarding account closure. In such a situation, how much is to be charged for closing the account, it is completely dependent on the bank.
A fee of Rs 500 is payable in SBI
Talking in public sector banks, if you are going to close the account in SBI, then after 1 year no charge will be paid. However, if you are closing the account after 14 days of opening the account and within 1 year, then a fee of 500 rupees and GST will have to be paid.
Talking about another state-run Punjab National Bank (PNB), there will be no charge for closing the account in PNB for 14 days. Charge for closing the account within 14 days to 1 year will be payable according to the account. That is, if you are closing RD account, then Rs 100 will be charged, Rs 300 for closing savings account and Rs 600 for closing current account. No fee will be payable on closing the account after one year.
ICICI Bank 30 days no fee
Talking about private banks, if you have an account with ICICI Bank, if you close it, no fee will be payable within 30 days. From the 31st day to closing the account within one year, a charge of Rs 500 will be payable.
Talking about another private bank, no fee is payable for closing the account in HDFC within 14 days and after one year. However, 1 thousand rupees will be charged for closing the account within 15 months from the 15th day and a fee of 500 rupees for closing the account from the sixth month to the 12th month.
