Bank accounts are highly efficient in maintaining our financial life. The services and features provided by a bank play a significant role in customer satisfaction. Customer satisfaction is necessary for a bank to survive. In case, a customer is not satisfied with the bank’s policies or services and intend to close the bank account, he/she can do it. Some will also prefer to close the bank account to open a bank account in a different bank.
About State Bank of India (SBI), it provides highly convenient services and comes with the best Netbanking features. To access its facilities from the comfort of your home, you can use the mobile app of SBI. However, if you wish to close your SBI account, you cannot do it from your phone.
You should visit the SBI home branch and finish the formalities to close the SBI account. We will tell you how to close your SBI bank account online or without visiting the bank branch.
How to Close Your SBI Account Online / Without Visiting the Bank Branch?
Practically, there is no way to close your SBI Bank account without visiting the branch. But, from the comfort of your home, what you can do is, download the SBI account closure form. This will help you close your bank account.
Detailed Guide to close your SBI Bank Account
Like we already mentioned, you should first download the SBI account closure form. You can also get this form manually from the nearest branch of SBI Bank. If you do not wish to go out, you can download the form online.
After downloading the form, follow the steps below:
- STEP 1 – Either obtain the account closure form from your nearby SBI bank branch or download the account closure form online.
- STEP 2 – Now, you should fill the SBI account closure form that you have downloaded or manually brought from the bank. Fill in the details asked in the form. In the form, you will be asked to mention the reason for closing the account.
- STEP 3 – You should withdraw your account balance before closing the account. You have multiple options like cash or Cheque or DD to transfer your remaining amount in the bank account to some other account. Select your preferred option in the account closure form.
- STEP 4 – You must submit your passbook, chequebook & debit card while closing your SBI Bank account. The account holder of SBI Bank should return their remaining cheque leaves and chequebook to the bank before closing the account. The account holder should also hand over the debit card & passbook to the bank.
- STEP 5 – This step is regarding the Submission of the KYC Document. Before you close your SBI Bank account, you should fulfil the KYC Document Submission. Some branches of the SBI account might ask for your Address and ID for verification. You should provide these details to make sure that you are the same account holder as the bank.
- STEP 6 – After your account is terminated, you will receive the confirmation email and message (SMS) on your registered mail ID and phone number.
If you face any issues or difficulties while closing your bank account, feel free to contact SBI’s toll-free customer care number 1800112211.
Does SBI Bank charge for account closure?
Many banks charge the customers some specific amount for closing their bank account. Concerning SBI, it recently cancelled the account closure charges. If you are an SBI user and your SBI account is more than one year old, there is no account closure fee or charges. However, if your account is less than a year old, you will be charged some amount.
Banks generally charge customers for account closure because of the costs they incurred during account opening, issuance of cheque books, passbooks, etc.
If your SBI account is less than a year old, you will be charged Rs. 500 + GST. Also, if an SBI account is closed within 14 days of the account opening date, there will be no charge levied.
Apart from the above-mentioned steps, you can contact the SBI bank branch manager and request the closing of your account. You should write a formal application form and submit it to the branch manager. In the application form, you should mention From, To, Subject and Content. In the content part, you should mention the reason for closing your SBI Bank account.
1. Does SBI Bank levy charge for a closing bank account?
SBI Bank does not charge you for closing a bank account if the account is more than a year old. If your SBI account is less than a year old, you will be charged Rs. 500 + GST. For SBI accounts closed within 14 days of the account opening date, no charge will be levied.
2. What happens when an SBI account holder passes away?
If an SBI joint account holder passes away, the amount will be equally distributed to the living account holders. SBI Bank will also request important documents/details like a succession certificate, will, and probate. You should also provide an order from the Administrative General attached to the High Court (HC).
3. Can I close my SBI Bank account online?
No. You cannot close your SBI Bank account online. You need to visit the home branch of SBI Bank to close the account. You should also submit your passbook, chequebook & debit card while closing your SBI Bank account.
SBI has made the closing process of the loan account simple. You can close your SBI loan account from the comfort of your home through the online method. Use your net banking account to close the SBI Bank loan account. We hope we explained to you in detail the steps to close your SBI Bank account. If we have cleared all your queries regarding SBI account closure, forward this useful information to your family and friends. Keep watching this space for similar beneficial articles.
Contents In This Article
- 1 How to Close Your SBI Account Online / Without Visiting the Bank Branch?
- 2 FAQs
- 3 Conclusion