Opening a bank account is simple and relatively straightforward; some may need help to close an IDFC Bank account online.
Opening an a/c online is similar to opening an account at a regular bank, but closing an account online is more challenging. You must follow the process to complete an IDFC bank account online.
Close an IDFC bank account online.
Usually, when someone opens a bank account, they rarely close it, and the version stays open with the bank for a long time.
Nowadays, the need to close a bank account is rare as most banks operate through an online platform. (You can visit any IDFC bank branches near you to complete the bank account)
IDFC bank account cannot be closed online, but an IDFC bank account can open online. The only step to complete an IDFC Bank a/c online is to download the IDFC Bank Account Closure Form.
Closing a bank a/c is a simple process, but all the steps must follow correctly. Make sure to complete all the details, including your bank a/c number, in the account closure form while properly closing the account.
How to close IDFC Bank Account?
To close a bank a/c (savings), you may be like to know how to close IDFC Bank Savings Account. It can be frustrating, but closing your account is easy. But first, you need to follow some steps.
- However, there can be various reasons for closing a bank savings account, such as the low-interest rate or poor customer service.
- Maintain a high minimum account balance.
- Bank needs to provide adequate online services due to bad relationships with employees and multiple bank accounts.
- Increased Fees for Financial Transactions If you want to close your IDFC Bank Savings Account, you may wonder how to approach it.
- It sounds boring, but closing an IDFC bank account online is easy. First, follow the steps for the same.
How to close an IDFC bank account online?
IDFC First Account Closure Form:
The first step to closing an IDFC Bank account is to obtain the IDFC Bank Account Closure Form. You can download it from the IDFC Bank website or visit your nearest IDFC Bank branch to collect the account closure form.
Fill IDFC First Account Closure Form:
Fill in all the details in the account closure form, including your bank account number. Double-check the details after filling out the form. After signing at the right place and completing the form, please submit it to the Branch Manager or Officer-in-Charge of IDFC Bank.
Remember that if you have any joint holders of your account, they must all sign the a/c closure form.
Attach your KYC documents to the IDFC a/c closure form:
Along with the account closure form, all account holders must add a copy of their KYC documentation, including a PAN copy (which serves as proof of identity) and address proof. Clients are also required to self-attest these documents.
Submit Balance Check Leaves and Passbook:
If the customer has any balance check leaves or passbook, they should return it to the bank. After leaving, all balance checks go to the passbook, and your account closure application will process.
Withdraw/Transfer balance in your IDFC Bank Account:
The bank will verify the documents you submitted; if correct, you will ask to withdraw the remaining funds from your account. You can withdraw cash; the bank can issue a cheque/DD in your name or move money to another account.
If you follow the above methods, you will close your IDFC bank account quickly. Additionally, banks usually send an email or SMS to your registered email id and phone number after completing your bank account.
Essential Points for Closing IDFC Bank Account (Savings Account)
- As banks usually don’t allow you to reopen a closed account, close it only if you don’t need it in the future.
- Cancel your automated payment instructions.
- Please take a copy or printout of the complete bank statement from start to finish and save it for future reference.
- Remember and follow all the closing formalities while closing the bank account.
- Please ensure that your bank account has a minimum Balance before closing it.
IDFC First Bank a/c Closure Form PDF Download
To close an account with IDFC FIRST Bank, use the IDFC Bank A/c Closure Form (PDF format). You will find the necessary information and directions for completing an account with IDFC Bank in the form.
It is a one-page form that contains all the information you need while closing a bank account, as well as instructions and details on how to fill it out.
Account closure requires collecting critical information from the customer, including their name, address, customer ID, bank account number, date of birth etc.
After providing this information, users must sign the form and email id, fax or mail it to the nearest branch office with all relevant attachments.
How to Close IDFC Bank FD Account?
A term deposit, often called a fixed deposit, is a savings a/c in which you can deposit a large amount of money for a predetermined period and earn interest at prevailing rates on the day you open the account.
IDFC offers a variety of services. Fixed deposits are available in many terms and at desirable interest rates. Instead of renewing a resolved promise, you can close it early or at maturity.
Steps to Close IDFC First Bank Fixed Deposit Account
- Fill out the Account Closure Form/Fixed Deposit Liquidation Form.
- Attach your KYC documents.
- Now submit a Fixed Deposit Certificate or FD Receipt.
Today’s article is “How to Close IDFC Bank Account Online”. We have explained all the details you need to know about closing an IDFC Bank Account (Savings Account). If you have any queries regarding any points, post them in the comments section, and we will be happy to respond.
Frequently Asked Questions
IDFC Bank Limited (“IDFC Bank”), marketed by IDFC Limited (“IDFC”), is a new professionally managed private sector bank in India. IDFC Bank commenced operations on October 1, 2015, after receiving the final banking license from RBI.
The minimum monthly account balance to maintain in IDFC FIRST Bank Savings Account is Rs 25,000 or Rs 10,000.
But if a customer decides to shut down his IDFC First Bank account within 15 days and a year, the bank will charge a closure fee ranging from a minimum of 200 INR to a maximum of 800 INR, depending on the type of account a person holds. And also the kind of person who owns it.
If your balance is less than Rs 25,000, we will only charge you to recover the cost when you make the following transactions in your account. These transactions will continue free if you have a balance of Rs 25,000 with us.