How to close an IDFC bank account?

Close an IDFC bank account; IDFC Bank is one of the most popular banks. It offers good interest rates, online banking services and low interest on loans. So usually, when a person opens an account with IDFC First Bank, there is rarely a chance to close it, and after a long time, it has opened with the bank.

But ultimately, many reasons can influence a person to close an account with IDFC First Bank. The reasons may be as follows:

• Multiple accounts. 
• Unsatisfied interest rate. 
• Dissatisfied customer service. 
• High bank fees or charges. 
• Online services are not working properly. 

Suppose you plan to close your account with IDFC and are unaware of the closing processor. Don’t worry about it. This page will help you with complete guidance or information about how to close an IDFC bank account.

The process to close an IDFC bank account.

Usually, when someone opens a bank account, they rarely close it, and the account stays with the bank for a long time. 

Nowadays, as most banks operate through online platforms, there is rarely a need to close a bank account. (To close a bank account, visit any IDFC FIRST bank branches near you).

IDFC bank account cannot be closed online, but one can open an IDFC bank account online. The only step you can take to close an IDFC Bank account online is to download the IDFC Bank Account Closure Form.

Closing a bank account is simple, but you must follow all the steps correctly. Make sure to complete all the details, including your bank account number, in the account closure form while properly closing the bank account.

Important points to remember 

• To close an IDFC Bank account is necessary to visit the branch. 
• Once you apply to close your account and the bank closes your account, you cannot reopen your account under any circumstances. 
• So think before closing your account. 
• Before closing your account, settle all your dues or loan payments.
• Make sure your account has a nil balance. 
• For future reference, you must retain a soft copy of the complete bank statement. 
• Deactivate all automated payment instructions.

IDFC Bank Account Closure Form

To download the IDFC account closure form, one can easily visit the website and get the form. Download the IDFC First Bank Account Closure Form from the official website or as mentioned below.

 IDFC First Bank Account Closure Form Download Pdf.

Steps to Close IDFC Bank Account 

Here we provide simple steps to help you close the account easily. 

Get IDFC First Bank Account Closure Form

The starting point is to get the IDFC First Bank Account Closure Form which you can get from the bank branch and alternatively from the bank’s official website.

Downloading the account closure form from the official website is straightforward. 

Fill out the account closure form.

After getting the form, you should fill it out properly without any mistakes as it may create hurdles. The following information is required to fill the form, so avoid the chances of mistakes and fill the details accurately. 

• Name of applicant. 
• Registered Mobile Number.
• payment method from which you want to withdraw your balance 
• Signature (In case of a joint account, make sure all account holders sign) 

Attach KYC documents 

After filling out the account closure form, you must attach your KYC documents for account verification. Documents like KYC documents, Know Your Customer, PAN card, Aadhaar card or any address proof. 

The account holder may ask for self-verified KYC documents. So while attaching the KYC documents with the form, make sure to sign all the documents. 

Submit all your bank documents. 

After you fill the form with self-verified KYC documents, you must surrender all the remaining bank documents like balance passbook, chequebook, debit card etc. 

Withdraw your balance from IDFC First Bank.

Finally, the bank will verify your form and all the details and find everything correct; you can ask to withdraw your remaining account balance. 

You must specify the mode of payment you wish to receive your money, such as cash, cheque, bank transfer or D.D. Additionally, do not forget to receive the recipient’s slip from the bank after submitting the form.

If you follow all these steps and submit the form with the correct details and all required documents, you can close your bank account with IDFC Bank without hassle. Bank verifies all documents; 

After the account is closed, the bank usually sends an SMS or email to your registered mobile or email id.

IDFC First Bank Account Closure Charges

Generally, if a customer closes their account within 14 days of account opening, IDFC Bank does not charge any amount. 

But when the account holder wants to close the account after 14 days or a few years, the bank charges some amount for closure. Charges vary by account type. 

Charges are as follows:-

Closure of SF account within one year of opening 

• For individuals: Rs. 200 
• For non-individuals: Rs. 500 

Closing Current Account within one year of opening 

• For individuals: Rs. 500
• For Non-Individuals – Rs. 800

Conclusion

Today’s article is about “How to Close IDFC Bank Account“. We have explained all the details you need to know about closing an IDFC Bank Account (Savings Account).

If you have any doubts about the points, post them in the comments section, and we will be happy to respond.

Frequently Asked Questions

1. Is IDFC Bank a Government Bank? 

The 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. 

2. How to Close IDFC bank account? 

The first step in closing a bank account is to fill out the IDFC First Account Closure Form. Download it from the bank’s website or visit your local branch and get an account closure form to fill out properly. Sign in and submit it to IDFC Branch Manager. 

3. How to close an IDFC First Bank account? 

To close an IDFC Bank account online, the customer must fill out the IDFC FIRST account closure request form available on the IDFC Bank website. Apply online after filling in the required information. 

4. What is the minimum amount in IDFC Bank? 

The minimum account balance to be maintained in IDFC FIRST Bank Savings Account monthly is ₹25,000 or ₹10,000.

5. Are KYC documents required while submitting the form? 

Yes, KYC documents had required for the verification process. If you don’t attach KYC documents, you may face many problems closing your IDFC bank account. 

6. What happens if I close my account with a negative balance? 

It will bring you many problems; the bank will take legal action against you, and you may not be able to open a new account with any bank. 

7. Is it necessary to settle the remaining dues? 

You must clear all dues on your account or deactivate your automated payment instructions. It simplifies the account closing process.