Know how to close Axis Bank account? Here check the complete process for closure of savings/current account of AXIS bank and the requirements needed…
Axis Bank is among the top 5 largest Banks in India, which provides banking services to a large number of customers in the country. There are multiple account services such as Savings Account, Current Account, Salary Account, Corporate account and other as preferred by the customer. The services form Axis Bank are fully online nowadays, which does include fund transfer and doing many things without visiting the branch.
As per the guidelines and the regulation, Axis Bank has also implemented the minimum balance concept for their account holders. In case the minimum balance not maintained, then the customer penalized with some charges and thus it is mandatory to maintain the minimum balance to keep the account active.
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Axis Bank Close Bank Account
Bank account closure in Axis Bank, will be with the customer choice. As based on the customer choice and convenience the Bank account operated, Axis Bank will support every decision of them. If Customer not able to maintain a minimum balance in the account, then it required to close the account to avoid the penalty charges.
As well if corporate or current accounts maintained for business accounts can closed, if the business is not currently operating. Thus there are many reasons which customers can state and get their Axis Bank account closed in a quick process. The process to close any of your accounts within Axis Bank approximately the same. There will only one form available which needs to submit for closure of your account.
Also Read: Axis Bank SMS Banking
Requirements to Close Axis Bank Account
In order to close your Axis Bank account, the custom has to follow the below given guidelines. It is mandatory to have your account closed in quick time as guided by the Bank.
- Transfer all your funds from your closet account to another account through the IMPS or NEFT or RTGS form.
- Withdraw the account Balance from Axis Bank ATMS or another bank ATMs. Maintain zero balance in your account at time of closer
- Clear all Loans or any depending Loans taken from financial authority within or outside the Axis Bank
Also read: Axis Bank Forex Transfer Charges
How to Close Axis Bank Account
Once all the requirements steps are followed, the customer can follow to deactivate their Axis Bank account. Here are the steps that you can follow to get your bank account closed.
- Open the official website of Axis Bank and go to Downloads section or directly go through this link savings/current account closure form
- Download axis bank account closure form
- Provide details in the form and update as required
- Visit your Axis Bank Account Home branch to submit the Form
- Attach Passbook, Cheque Book and Debit card along with form
- Also provide an identity proof for verification of closer of your account
That’s it, The Axis Bank Employee will accept your details and the processing for the closure of the account will process. The process will take up to 10 to 15 days. Update your registered number sent once the entire Axis Bank Account closure process completed.
Does Axis Bank Apply Charges for Account Closure?
The Axis Bank Account closure will charge your INR 500 if the account is closed after 1 year of its creation in the bank. If the account is closed within 1 year, then there will be no charge applied for the color. Thus customers can contact customer support to check their eligibility for a free account closer.
How to close an Axis Bank Account with a Negative Balance?
In case, if the customer has got a negative balance in the account, then the bank account will not be closed. The account will be however kept on hold as closer and only after the customer clears all dues with the bank, the final the closure of the account will be closed.
Can I close my Axis Bank Account online?
No, the process to close the Axis Bank Account is only offline and there are no processes initiated yet for the online closure of the account. The Axis Bank Account closure form will be available online but the filled form must be submitted to the bank branch offline.