SBI Account Closure Form PDF Download – Learn How to Close

The State Bank of India offers its customers multiple accounts to choose from, including savings accounts, current accounts, and fixed deposit accounts. If you are not happy with your SBI account or if it no longer serves your needs, you can close it and move your money to another bank.

However, you need to make sure that you do this correctly to avoid any penalties or charges from the bank, which is why we have created an SBI account closure form PDF download that will walk you through the entire process step by step so you can close your SBI account right away.

Why you should close your account

You may have many reasons for wanting to close your State Bank of India (SBI) account. It could be you’ve got multiple accounts with different banks and want a clean set-up or maybe you’re about to leave India for good.

But no matter what your reason, there are a few things you need to know before closing your account. Here are some frequently asked questions that might help.

Documents Needed for Final Confirmation of a Closed Saving Account

Closing an account with the State Bank of India (SBI) isn’t a simple process. If you wish to cancel your bank account, you must submit a number of documents and follow specified guidelines in order for your request to be processed.

Here is what you need in order to have your bank account closed correctly. The entire process takes approximately 15 days to complete, so plan accordingly. You will receive a notification once your request has been finalized by SBI.

• A copy of your current passbook or certificate that shows proof of balance at the time of closure as well as any outstanding dues owed on the said account;

• A photocopy of both sides of all cheques issued from a said account;

• A letter explaining your reason for closing your account and any outstanding dues owed on said account (if applicable);

• Any other documents that may be required by SBI;

• If you are closing your account due to a change in address, then an ID proof and a photocopy of both sides of your current passbook or certificate are needed.

• If you are closing your account due to death, then a copy of the death certificate is needed along with any relevant legal documents pertaining to inheritance (if applicable).

All above-mentioned documents must be submitted in person at your local branch or through a registered post or courier service.

You will receive notification once your request has been finalized by SBI; however, if you have outstanding dues on said account, then it may take longer for you to receive notification that indicates that your request has been finalized and closed as per the company policy and procedures.

The official closure process

It might come as a surprise, but there’s an official way for you to close your bank account with State Bank of India (SBI). You can download a closure form from their website or get one from your nearest branch.

The form comes with instructions on how you can proceed further and will be accepted by any of their branches.

However, if you are closing your account because it has been inactive for over 3 years, you won’t need to fill out any forms; just visit your local branch and ask them to close it down.

If you have lost or misplaced your form, don’t worry; simply approach any SBI Branch and tell them that you want to close down your current account. They will guide you through the process after verifying some details about yourself.

Important Points to Keep in Mind Before Closing an Account

Although any Indian resident can open an account with State Bank of India, if your address is outside India then you are not eligible for a savings bank account.

If you wish to close your account and move money out of it, you must fill in an SBI Account Closure Form (and inform them before doing so).

Before closing your account, it’s important that you know how much money is still left in it. You can do so by logging into your online banking portal.

Once you have determined how much money is left in your account, transfer that amount to another bank using NEFT or RTGS.

This ensures that you don’t end up losing any money from your account even after it has been closed. However, Closing an SBI account does not affect loan accounts linked to it; these will continue operating as usual even after your savings bank account has been closed.

FAQ

In which branch should I submit my form?

The branch where you opened your account is where you should submit your form. However, if it has been less than a year since opening your account, then it is not necessary to go to that branch; instead, you can submit it at any other branch.

Is there a fee for closing my account?

Yes, but it’s not very high. If you have an NRO (non-resident ordinary) account, then you will be charged Rs. 1000 if your balance is less than Rs. 50,000 and Rs. 5000 if it is more than that.

If you have an FCNR (foreign currency non-resident) or a current account, then you will be charged Rs. 500 if your balance is less than Rs. 50,000 and Rs. 2500 if it is more than that. However, these fees are waived off in case of the death of any member of your family or in case of a terminal illness.

Can I close my account from home?

No, you cannot close your account from home; instead, you must visit one of their branches to submit your form.

What should I do after submitting my form?

After you submit your form, you will be given a receipt. You must keep it safe until your account is actually closed. If there are any discrepancies in your form, you will be contacted by phone or email.

How long does it take for my account to be closed?

It depends on how busy their branches are and how many people they have working on processing forms. However, if everything goes smoothly, then it shouldn’t take more than 2 or 15 Days.

What happens after my account is closed?

Once your account is actually closed, you will receive a mail & SMS with all of your bank statements and other essential documents that you may need in future.

Can I close an NRO account if I have an outstanding loan?

Yes, but only if it’s been less than a year since opening your account. If it has been more than a year since opening your account then you must pay off any outstanding loans before closing it.

What should I do with my passbook after my account is closed?

You should keep it safe until your new bank sends you a new one.

Can I still use my ATM card after my account is closed?

No, once your account is closed, all of its services are terminated including access to ATMs and net banking facilities.

Conclusion

Account closure is a long process. If you have given up hope, then don’t worry, it is not too late. Read through our guide to learn how to close your SBI account correctly and finally bid goodbye to it for good.

We also provided an account closure form that you can download from here and submit at your nearest branch of the State Bank of India in order to close your account correctly.

This will help you avoid any further hassles or fees. thankyou for reading our post about SBI account closure form pdf download .please share with friends if you like our post. if you have any queries feel free to comment below. we reply as soon as possible.