How to Close SBI Account: Banks in our country work according to the rules set by the Reserve Bank of India. If you are not satisfied with the banking services offered by the bank, you can close your bank account. Some banks charge their customers for account closure and some do not. The country’s largest bank SBI has recently waived off the account closure charges. You cannot close your SBI bank account online. For this, you have to go to your home branch where you have opened the account.
The process for SBI savings accounts closure and SBI salary account closure is similar. If you have a savings or current or salary account with SBI (State Bank of India) and you want to close it, then here are all the details and procedures to close your SBI account.
How to Close SBI Account
Step: 1 You need to visit your SBI Home branch to close your account. Where you have opened your account. And request the SBI executive to close your account.
Step 2: The bank executive will provide you with the request form or CDSL to close your account. You can also download the SBI account closure form from the SBI website. If you have a joint account then all the account holders will have to sign the closure form and give their consent. Fill out the form to close the account.
Step 3: Your SBI bank account closure is almost done, now you have to choose the mode by which you want to receive the money in your bank account. You can get it through cash, demand draft, check etc. Choose any method you want to receive your account balance.
Fill in the complete details of the SBI Account Close Form:
- Account number
- Contact number
- Signature of the account holder
- Reasons for closing the account
- Name of the account holder
SBI Account Close Form – Download
Submit some required documents:
After filling the SBI closure form, you need to submit it to the bank along with the following.
- Passbook: You will also have to hand over your passbook to the bank while closing the SBI account.
- Debit Card: SBI account holder should also return his/her debit card which is used to withdraw money from ATMs.
- Check Book: You have to return the check book along with the balance check to the SBI Bank branch at the time of closing your account.
- ID proof: Some SBI branches may ask for ID proof and address proof before closing your SBI bank account.
Step 6: Some SBI branches may ask for ID proof and address proof before closing your SBI bank account. Provide this to ensure that you are the same account holder. After account closure, you will receive email as well as SMS on your registered email id and mobile number. If you have any problem in SBI account closure, you can call on toll-free number 1800112211.
Things to keep in mind before closing an account
It is better to keep these things handy:
- Debit Card
- Cheque Book
- ID and address proof
- closure letter or closure form
A Few Things to Remember
Before closing the account, make sure to pay all your pending dues
Close or transfer all your EMI and credit cards attached to this account.
Keep the balance zero, so that there will be no issues with transferring the amount
Make sure to download the bank account statements for future reference.
Remember that this account cannot be re-opened again.
SBI Account closing charges
Some banks charge for the account closure. For example, SBI Bank doesn’t charge for the closure within 14 days of the opening of an account. Any closure of the SBI bank account after 14 days but before 1 year are subject to some closure charges.
Keep these things in mind and don’t let unwanted bank accounts lie idle as there is no benefit in making yourself overburdening by gathering information and statements from too many banks. So close unwanted accounts serve no good to your financial life.
How to close an SBI account?
You cannot close your SBI savings, salary, or current account online; you must visit the branch with the required letter or form, as well as ID documents, to close the account. You can download the account closure form from the SBI website.
Mention the reason for your closure and submit all account-related items such as a debit card, a checkbook, and a passbook. Account closure fees may be charged by the bank depending on the account’s
Account holders who close their bank accounts after a year are not charged any fees by SBI. The account holder will have to pay fees if the SBI account is closed in between 15 days to one year; the account closure charge is Rs 500 plus GST for a savings account.