Behind this big decision of closing your axis bank account permanently is a good decision to be done from your side. If you aren’t using the account or the account remains empty i.e inactive. Then it’s better to close the account.
Because not closing the account from your side means it’s temporarily deactivated and a lien amount will be charged along with the services charges will be included considering it as a negative balance which in turn if not paid could hit your credit score, opening an account in another bank.
So closing the axis bank account has some guidelines and charges to be paid and I will come accordingly.
By the way there should be a reason for closing your account as the bank employees ask for this. Like I would mention some of them and you can pick any one –
- Account closure due to high charges.
- Account closure due to inactivity.
- Account closure due to change in mind.
- Account closure due to long distances from the home branch.
And so many you can have any reason…
Why you need to close account personally from your side ?
As there’s a rule for a bank to close any customer’s bank account due to inactivity for more than 6 months, axis bank charges during this inactivity if not closed personally and the bank holds the account temporarily and at least bank sends a legal notice to the address to pay back the remaining negative balance.
Personally speaking, you’re using one of the best private banks in India and there’s nothing more than the features Axis provides, be sure to check before you close. However, it depends on person to person of using features and the difficulty faced.
Account closure charges –
There’s a catch you need to know before you close, if the account is closed within 14 days from the account creation or within 1 year it’s free of cost. But above that it’s chargeable.
If the account is older than the mentioned date, a 500Rs + GST is charged. Also if a minimum balance is not maintained for a longer period, extra 500Rs are charged with the existing one.
And More than this if a negative balance was added with your account it is also mandatory.
Things to note –
- First of all, if the account was not configured with full KYC, a full KYC will be performed using a biometric scan.
- Bring all the required papers and cards that were provided by the bank like the Passbook, checkbook, debit cards should be carried to surrender to the bank.
- Carry necessary id proofs along with you while visiting the bank branch.
- Take note of another account number which will be asked by the bank to transfer the rest amount to the account.
- Please do not completely withdraw funds from your account as the procedure will be not be completed without having some funds left as the bank would charge fees for the account closure.
There are no processes or methods to close the Axis bank account other than visiting the bank branch.-Axis Bank
Steps to close Axis Bank by visiting Bank branch permanently:-
- Please note account type is a major factor where the charges also depend on.
- Also don’t forget to carry your id documents like – Government id, Aadhaar Card, PAN Card.
- Now either ask for the form at the branch or download the form now, fill up let me guide you bit to fill the form.
- Start with an account closure date.
- Write the 15 digit account number of the bank account you want to close.
- I for a single account or We if joint account.
- Next, write from the starting cheque number to the end as per your reason mentioned.
- Write the debit card number if any, cancel in the boxes field.
- Now chose any reason as given in the form
- In Mobile number, field provide an alternative phone to be contacted
- Now tick any, one among the two boxes to chose how you want to pay the charges, either using Demand draft or by depositing it into your axis account and the bank will deduct from it.
- Next with the standing instructions which are the autopay option enabled for paying the bills this is applicable if used earlier and wasn’t canceled.
- Now write your full name and signature beside it and as it follows…
- Also, make sure do not touch write on BANK USE ONLY and if there’s any doubt do leave it and ask at the bank branch.
- After visiting the branch surrender the necessary cards and passbook, chequebook to the executive.
- Voila! Account closure process has started, a message will be sent to your registered mobile number notifying about the account will be closed within 7-10 working days .