Bank account closing Application in India [2021]

A Bank Account closing application is a formal letter where the request for closing the bank account is written to the manager of the bank. Therefore, composing a Bank account closing application or letter is an absolute necessity and it ought to contain the reason for closing the account by resolving every issue related to the bank.

To close your account, you will have to write a bank account closing application to the bank office manager and you’ll have to attach your checkbook, ATM card, and passbook along with it. You can in like manner transfer your bank balance to another branch instead of closing it.

Generally, in 10 to 15 days the bank will close your account. Due to many reasons like moving to other countries, web banking issues, not able to maintain the monthly balance, and so on led the people to close their account.

But many people do not know the format in which the application should be written or sometimes because of the shortage of time the appropriate application can not be written.

Therefore, to save your time by writing the application, we’ve provided a few formats and samples of closing letters which will make your work simpler and quicker. Here, we’ll take about the way to write the closing bank account letter.

If you want to close your bank account, then you’ll have to follow a formal process. There are some documents that you need to take to the bank as proof. So, you won’t get any problem in the closing of the account, just follow the process as given by the bank.

Some banks also charge fees for closing that you’ll have to pay. So, the following documents are necessary for the closing of the bank:

  1. Account Number
  2. Name of Account Holders
  3. Account’s Holder Signature
  4. Cheque Book
  5. Bank Account’s Original Passbook
  6. Atm Card
  7. Aadhar Card, Voter ID card, Pan Card for Identify Proof and Address Proof.

Keep in mind these points, while writing a letter for Closing Bank Account:

  1. Your application letter ought to be brief and clear being an authority document,
  2. The subject of the heading should clear the purpose of the application.
  3. Give your complete identity and details of your bank account.
  4. The application is normally communicated to your Manger of the branch.
  5. You’ll have to give back your passbook, checkbook, cards, and some other documents along with your application letter.
  6. You’ll have to give your identity proof like the Aadhaar card, Pan card, and many more.
  7. Get out the details of the account balance before the closing of the account.
  8. Bank may charge you an ostensible expense for the method.

The Application of closing bank account should contain the following details:

  1. Address the Manager of the Bank
  2. Bank’s Name and Address
  3. Date
  4. Subject
  5. Salutation
  6. Letter Body
  7. Express Thankfulness
  8. Close the letter with Truly, Yours Sincerely and so on.
  9. Lastly Name and Signature

Format:
To
The Manager of Branch
Bank’s Name
State, City, Pincode

Date:

Subject:

Salutation (Sir/Madam)

[ Letter’s Body]

Part 1……
Part 2…..
Part 3…..

Thanking you
Yours Truly,
Account no.
Name
Signature

Sample of the Application
To,
The Branch Manager
Bank of Baroda
Delhi
Pin- 726256

Date- 30th May 2021

Subject- Bank Account Closing Application

Sir,
I Priyanka hold an Account bearing 9726266262 account no. with your Branch and I would like to inform you that I want to close my account as I’ll no longer live in India and permanently shifting to Russia. So, I request you to close my account and not proceed with any further transactions. I will hand over my chequebook, passbook, cards.

Therefore close my account and transfer the remaining balance in the account to the other account which I have mentioned below. I hope you’ll do the process shortly. I will do all the further processes of the bank if needed anytime, so kindly let me know when I need to visit.

Other Bank Account Number-
IFSC Code-
From,
Name
Contact no, signature

There are various reasons for which people close their accounts. Some of the reasons are:

  1. Moving to another city or state
  2. Opening a joint account
  3. To get away from helpless client care
  4. To fit the bill for a bank-offered reward
  5. To improve loan rates
  6. Solidifying your banking
  7. To stay away from costly expenses
  8. To acquire better results and services

Also Read: [2021] Affidavit in India: Its Format, Types, issuing authority

Bank Account closing application after death

The death of a person is natural as one who is born has to leave this planet one day, and it’s important to notify the banks about the death of the person in which the person holds an account to make the money safe of the account and to keep away from the monetary issues connected with the future. You can also get the deceased person account’s closed if you want to.

In the case where the account was a joint account, it will pass straightforwardly into the single name of the other person holding the account after the bank gets notified about the demise of the person so the account need not be closed.

In the case where the account was not the joint account and a person dies then it will be the responsibility of his/her representative to close the account. When there is a will, the individual delegate is the representative named in the will.

In case you’re closing an account after a demise with no will, then the individual delegate is the head of the home, who is typically additionally the fundamental recipient.

For getting the accounts closed you’ll have to follow the process given by the bank and submit various documents for proof. Also, you’ll first give the application the incorrect format for closing the account to the bank. Therefore we have discussed below the format for writing the application for the closing of the deceased person.

Format for the Bank Account Closing Application for deceased

To,

The

Manager,
Bank’s Name
Bank’s Address

Date:

From,
Your Name
Address

Subject: For the closure of the Bank Account of Deceased Person

Sir/Madam,
I would like to notify you that, I am __________ (Name), ______ (child/spouse/girl/some other connection) of ________ (Name of the expired) who had a record in your bank.

Deceased’s account number :
Account Holder’s name :
The previously mentioned person died because of ___________ on ________ (date). I want to refer to that I would prefer not to proceed with this record and need this record to be shut. I have joined every one of the important reports (demise declaration) needed.

I hope you’ll do the process shortly. I will do all the further processes of the bank if needed anytime, so kindly let me know when I need to visit.
Much thanks to you,
Yours Faithfully
Name,
Contact
Signature

Current Bank account closing Application

To
The Manager of Branch
Bank’s Name
State, City, Pincode

Subject:  Current Bank account closing application
Current Account No.

Sir/Madam,
We hold a current account in your bank bearing Account no. 456897532 of our XYZ company. We’re planning to discontinue the company, therefore we want to close our current account. So, I request you to close my account and not proceed with any further transactions. There are no dues left from this account. I will hand over my chequebook, passbook, cards.

Therefore close my account and transfer the remaining balance in the account to the other account which has been mentioned below. We hope you’ll do the process shortly. We will do all the further processes of the bank if needed anytime, so kindly let us know when we need to visit.

Much thanks to you,
Yours Faithfully
Name,
Contact
Signature

Things to do before submitting Bank Account Closing Application:

De-Link Cards – Before closing your bank account, firstly it’s important to de-link your Cards. For faster transactions, we Link our card and UPI in many Apps.

Check Your Account Balance – You’ll have to pay some amount for Closing your Bank account. Your Bank will not permit You to Close Your record if your account balance is negative.

Open New Account – Open a new account you hand over the Bank Account Closing Application as the remaining balance gets transferred to your new account.

Bank Statement Backup – Take the printout of Soft duplicate of all Your Bank proclamations for At least the most recent 12 months. Bank Statement permits the Customer to see every one of the Transactions Processed on Their Account.

After doing these, you can go to your respective bank and submit the application for closing the bank account. Doing these things before will not create any problem in the closure of your account.

Final Words about Bank account closing application:

At whatever point You are Not Satisfied with the Services provided by the bank or have any other issue then you can always submit your Bank account closing application whenever you want. After submitting the application, your Bank Account gets closed in 7-10 Working Days. Your Bank Will Send the Confirmation Letter of the Account Closing to your registered address.

 

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