How To Close SBI Bank Account?

SBI (State Bank of India) is one of India’s largest public sector banks, with a large client base and numerous locations throughout the country. Customers can choose from a variety of financial and banking services.

There are a variety of reasons to shut a bank account, including a low balance, unsatisfactory bank services, expensive maintenance fees, and others. If you wish to close your SBI bank for whatever reason, here are all the data and procedures in simple stages.

Let’s look at the procedure and see how to close your SBI bank account without any problems.

Follow The Easy Steps To Close SBI Account

Many people find it difficult to terminate their SBI bank account; however, by following the steps outlined below, you can quickly deactivate your SBI bank account without any issues. The procedure of shutting an SBI bank account is fairly straightforward and may be completed in a short period of time. Follow the steps to effortlessly close your State Bank of India bank account.

Obtain the SBI account termination form first.

Obtaining the SBI account closure form is the first step towards deactivating the account. You can obtain the form by visiting the bank or downloading it from the official website or from the link provided below.

Step 2: Complete the form’s details.

Follow the second step after receiving the SBI account closure form. The second step is to complete the account termination form by providing the requested information. You must fill in the following information, which must be accurate:

  • Accountants’ names
  • The account holder’s signature
  • Account holder’s bank account number
  • Contact number
  • Fill in the blanks with your city, state, and zip code.
  • Reasons for bank account closure
  • Transfer options for the remaining balance

Step 3: Fill out the form

You must submit the SBI account closure form to the bank along with the checkbook, passbook, and debit card that the bank has provided. It’s also likely that the bank manager will want address proof throughout the form submission process; if so, provide it to shut your account without delay.

Step 4: Account closure.

You will receive an SMS or an email on your registered mobile number or email id once the submission process is completed by providing all of the correct details in the form. It will inform you that your account has been terminated. You can easily close your SBI bank account in this manner.

NOTE: If you have any problems canceling your SBI bank account, you can phone 1800112211, which is a toll-free number. The customer service representative will answer all of your questions and assist you in closing your bank account.

What You Should Do Before Closing Your SBI Bank Account

Things you should keep in mind before closing SBI account. 

  • The most important thing to understand is that once you terminate an account with the State Bank of India, you will never be able to restart it.
  • Before cancelling your account, double-check that it has no balance.
  • Before canceling your bank account, pay off all outstanding debts.
  • Remember to bring your bank account statement with you at all times because it is required.
  • It’s also a good idea to cancel any automated payments or transactions that are tied to your bank account.

SBI Account Closure Form 

The SBI account closure form is simple to obtain. You can pick up the form at the branch or download the SBI account closure form from the link below.

SBI Bank Account Closing Charges

The State Bank of India (SBI) is one of India’s most powerful banks, and it offers inexpensive account closing fees. The bank usually charges a fee of 500 to 1000 rupees to close an account. However, SBI amended its account closing rates over time, and now charges rupees 500 to account holders who terminate their accounts between 14 days and one year. And only the holder of a savings account is eligible for this sum.

If you want to shut your SBI current account, you must pay 1000 rupees between 14 days to a year. Also, when closing the State Bank Of India bank account, the bank may impose GST charges.

Conclusion: Key Take-Away Points

The State Bank of India is a well-known bank in India. It includes a number of locations in both rural and urban areas. This bank serves a large number of customers and continues to improve its financial services. This bank provides a customer service number of 1800 425 3800 to address consumer concerns about banking services.

We trust that the following information will assist you in closing your State Bank of India bank account. The instructions for How To Cancel SBI Bank Account are clear and concise, allowing you to close the account without difficulty.

Frequently Asked Questions

How can I close SBI account without going to the Bank?

The SBI bank account cannot be closed without visiting the branch. You must go to the bank to close your SBI account.

How to close SBI account online?

It is not feasible to close a State Bank of India bank account online. To close your account, you must go to the branch.

Can I close my SBI account through net banking? 

You cannot close your SBI bank account using net banking.

Can I close SBI bank account if I’m not capable of maintaining a minimum balance? 

If you do not keep a minimum account balance at your bank, you will be charged a fee. As a result, closing the account is advised.

Are there any charges for closing an SBI account?

If you close your account within 14 days of opening it, SBI will not charge you any fees. Furthermore, there is no fee for closing an SBI savings account. If you shut your current account after 14 days, the bank will charge you Rs 500 plus tax.

Can I close SBI account with a negative balance?

If you have a negative balance on your SBI account, you will not be able to close it.

What happens if the minimum balance is not maintained in SBI bank?

A penalty fee will be charged if you do not maintain a minimum balance on your SBI account. If your account’s minimum balance is not maintained, SBI charges you rupees 5-15 per month plus taxes.

Can I close the SBI account before one year?

Yes, you can terminate your SBI bank account before one year; however, if you close the account after 14 days, the bank would charge you a fee.

Can I change SBI account to zero balance?

Anyone can change their existing bank accounts to zero-balance accounts without having to pay any money.

What are the documents required to open a zero balance account? 

To open a zero balance account, you need to submit the documents that are as follows: 
– Aadhar card
– Residential proof
– Pan card
– Passport size photo
A valid phone number and email address.

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