How to close the IDBI bank account?

Close the IDBI bank account; usually, if someone opens a bank account, they rarely close it & the version remains open in the Bank for a long time. Nowadays, as most banks have started working through online platforms, there is no need to close a bank account under normal circumstances.

IDBI Bank is the largest Bank offering its customers the best corporate and personal banking services.

There are many kinds of accounts you can open with IDBI accounts. They also have the best interest rates on fixed deposits. 

However, sometimes, we don’t need to open our account in any particular bank. So, you don’t need to keep a specific account. You can close your bank account anytime if you are an IDBI Bank account holder.

Reasons for closing IDBI bank account:

Everyone has a personal reason for closing any bank account. The reason could be that they don’t want to continue their banking services with a particular bank, or they don’t maintain a minimum balance that incurs charges. 

Some people may have many other reasons to close their bank account with IDBI Bank. However, there can be many reasons for closing a bank savings account: 

• Low-interest rate. 
• Unsatisfactory customer service. 
• Bad relationship with bank staff 
• I have multiple bank accounts. 
• The Bank’s online services are not available properly. 
• High fees & charges on financial transactions
• Lower Limits for Financial Transactions 
• An increased minimum account balance is required to be maintained. 
• A customer moves to another city with no bank branch near his place.

Essential Points for Closing IDBI Bank Account:

• To close your account, you must visit the bank branch where you opened the account. 
• Banks generally do not allow the reopening of a closed account, so the report should be closed if he does not need it in the future.
• You must save a soft copy, or a printout of the complete bank statement from start to finish must be reserved for future reference purposes. 
• Cancel your automated payment instructions. 
• One must clear all their pending dues or charges before closing the account.

How to close an IDBI Bank Account? 

There are two ways and methods to close your bank account at IDBI Bank: 

1. By visiting branch
2. Via online.

1. By visiting the branch:

We get almost every assistance by visiting our main branch. Still, it is very time-consuming, and we must wait for our turn to solve our problem or place any request. 

If you want to close the IDBI bank account, first, you must visit the branch along with all the details of your particular budget and the ATM card. Then follow the steps below to close the account:

Fill out the IDBI Bank Account Closure Form:

To Close the IDBI bank account, the first step is to fill out the account closure form. You may download it from the Bank’s official website or visit your home branch to get the account closure form and fill it out correctly. 

After that, you must sign and submit it to the Branch Manager/Officer-in-Charge. Please note that if you have any joint holder/s of your account, they must sign the account closure form. 

Attach your KYC (Know Your Customer) documents: 

All account holders should connect a copy of KYC documents, i.e., PAN, which will serve as their identity and address proof for the account closure form. Clients can also ask for self-attestation of these documents.

Surrender balance check leaves, debit card, and passbook to your bank branch:

It would be best if you surrendered your balance check, check leaves, debit card, and passbook. They will process your account closure application after you submit all these items.

Processing your request to close a savings account: 

The banker will verify the documents you submitted and, if they find all things correct, will ask you to withdraw the balance amount in your account and process your account closure request.

Withdraw the balance amount from your Bank:

If you observe the above steps, you will be able to close your bank account in a hassle-free manner. Banks usually mail an email or SMS to your recorded email ID and mobile after your account is closed.

When asked, you can take a cash withdrawal, or the Bank can issue a cheque/DD in your favour or transfer the amount to another account, thereby closing your account. 

2. Via online:

The second method to close an IDBI Bank Account is through IDBI Net Banking. We know that no one likes to visit a branch, so internet banking is there to solve everyday banking problems.

Apart from fund transfer and other matters, you can request the closure of your bank account with IDBI Bank by downloading a simple form and sending it back to the Bank. However, you must return everything added to your bank account.

Note: There are no charges for the closing account. You can report to the IDBI Bank Anti Corruption Helpline Number if someone asks for any price.

Conclusion:

Many people want to close their bank accounts with any particular bank, and there can be many reasons for this. However, the Bank will not ask for a specific reason for closing any bank account associated with IDBI Bank. 

You must return the goods and fill out the form, and your account will be closed. IDBI Bank is one of the top public sector banks in India. However, some people are dissatisfied with their services. 

IDBI will not ask for any reason for closing any particular bank account associated with them. Let us know in the comments space if you want anything else.

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