Know closing fees for SBI, HDFC & ICICI banks before closing your savings account

This information is helpful if you have savings accounts with various banks and want to close one of them. Actually, it can be challenging for you to manage multiple bank accounts. To maintain the account, a maintenance charge and a minimum amount are needed. Due to this, most people would rather close an account than maintain multiple bank accounts and pay a “non-maintenance fee.” But you probably aren’t aware that fees must still be paid even when canceling a bank account. But this regulation only applies if the account is closed within a specific time window.

HDFC

Within 14 days of opening your HDFC Bank account, you can close it without incurring any fees from the bank. However, you must pay a closure fee of Rs 500 if you terminate the account between the 15th day and 12 months. For older persons, this fee is Rs 300. The bank doesn’t charge anything after a year.

SBI

The bank won’t charge you anything if you close your SBI account for another year. However, you would be required to pay Rs 500 plus GST if you close the account for 15 days to 12 months.

Axis Bank

For accounts closed during the first 30 days after account opening, ICICI Bank does not impose any fees. However, the bank would charge you Rs 500 if you terminate the account between the 31st day and the 12th month.

Canara & Yes Bank does not levy a fee when a bank account

is closed within the first 14 days. But if the account is canceled between the 15th day and 12 months, you will be charged Rs 200 plus GST. You must still pay Rs 100 + GST if you terminate your bank account after a year, though. Following the launch of Yes Bank. You won’t be required to pay any fees if you close your account within 30 days or after a year. However, you would be required to pay Rs 500 if you shut the history between the 31st day and the 12th month.

Read More: With RBI approval, HDFC Mutual Fund expanded its stake in banks

Join Our Group For All Information And Update, Also Follow me For the Latest Information
YouTube	Click Here
Facebook Page	Click Here
Instagram	Click Here
Telegram Channel	Click Here