How To Close Yes Bank Account?

In the Indian financial system, Yes Bank is a well-known commercial bank. It provides a variety of banking services to make the lives of the common people easier.

Yet, there might be a variety of reasons for someone to close their Yes Bank account. You’ve come to the right place if you’re having trouble closing your Yes Bank account. This page will assist you in closing your Yes Bank account.

Before we go any further, let’s look at the factors that influence a person’s decision to close a bank account:

  • Unsatisfied interest rate
  • Unsatisfied banking services
  • Multiple accounts
  • Bank employees’ misbehavior
  • High maintenance charges
  • Online services are inadequate.

Now, let’s look at how to close your Yes Bank account.

Steps to Close Yes Bank Account

If you’re having trouble terminating your Yes Bank account, follow the steps outlined below to do so without difficulties.

Step #1: Download the account closure form. 

You can obtain the account closure form from Yes Bank’s official website, as well as through the links provided below, or you can go to your bank branch and request it from the manager.

Step #2: Accurately fill up the account closure form 

Fill in the details requested on the account cancellation form after receiving it. Be sure the information you’re entering is correct. There are no mistakes allowed; otherwise, the Bank would reject your application. The form requires the following information:-

  • Name of candidate
  • Mobile phone number or email address
  • Account number that you want to close
  • The method of payment you want to use to retrieve your remaining balance

Step #3: Attach your KYC documents.

You must now attest your KYC (Know Your Customer) documentation, such as your PAN, Aadhar Card, and residency proof, after finishing the second stage. Banks may require self-attested paperwork, so sign each one and, if the account is joint, ensure that all account holders sign the documents. Any error will result in your application being rejected, so carefully follow each step.

Step #4: Surrender your remaining documents.

When all the above three steps are done, you have to submit the form to the bank branch manager, but along with the form, you have to submit your remaining bank documents like Passbook, chequebook, Debit card or credit card (if you have). Your account closing request is taken in the process only after the submission of all your remaining documents.

Step #5: Your account get closed 

Your account can be quickly canceled once the Bank verifies that all documentation presented are correct. You can quickly close your Yes bank account if you follow all of the above steps without making any mistakes. The Bank will cancel your account and send an email or SMS to your registered mobile number or email ID after checking all details and documentation are correct.

Also Read: How do I get money from a bank account that has been closed?

Things To Do Before Closing Yes Bank Account

  • Yes Bank, however, does not allow consumers to end their accounts online. To close the account, you must go to the bank’s branch.
  • Yes Bank will not allow you to reopen your account once it has been closed.
  • Before closing the Yes Bank account, open a new one.
  • Create a soft copy of the bank statement for future reference.
  • Remove all automation payments associated with the Yes Bank cards before closing the account.
  • Pay all of your dues and pending charges to the Bank to ensure a smooth account closure.

Yes Bank Account Closure Form

To close your Yes Bank account, you must obtain an account closure form, which can be found on the bank’s official website or as detailed below. By clicking on the download button, you can quickly download the Yes Bank Account Closure Form in PDF format:

Yes Bank Account Closure Application

To close the account in Yes Bank, you need to submit an account closure request to the bank manager, in which you have to fill in the reason. You don’t need to tackle your mind as here we attach the application form that you can fill easily and submit to the Bank. Click on the link to download account closure request form from Yes Bank

Yes Bank Account Closure Charges 

Yes bank will not impose any fees if an account holder applies for a closing account within 30 days after creating the account. However, if account holders shut their accounts after 30 days or more, the Bank will levy a fee, which may vary based on the account type.

On account closure, the Bank charges a standard fee. If you close your account after 30 days, you will be charged 500 rupees plus GST.

Recommended:

Yes, Bank Operating Hours and Timings

Mini Statement from Yes Bank

Frequently Asked Questions 

Can we use Yes Bank Online services to close the account?

You cannot close an account using Yes Bank’s online services. Just the option to download the form from the Bank’s website is available.

Is it necessary to visit the Yes Bank?

Yes, you must visit your bank branch to close your account. It is impossible to close an account without visiting a bank branch.

What will happen if I do not maintain the minimum balance in the Yes Bank account?

The Bank will penalize you if you do not keep the minimum balance in your bank account.

What are the KYC documents that I need to submit while closing the Yes Bank account?

Yes Bank requests KYC paperwork, or Know Your Customer documents. PAN cards, Aadhar cards, and other address proof documents are examples of KYC paperwork.

Can we close the Yes Bank account in a negative balance?

Banks often do not permit account holders to cancel accounts with negative balances. If you have a negative balance on your bank account, closing it may be tough.

Can I close a Yes Bank account through net banking? 

Yes Bank does not provide the ability to close an account.

Can I open a zero balance account in Yes Bank? 

Customers of Yes Bank can open zero balance accounts, which eliminate the need to keep a minimum balance in the account.

Is it necessary to settle old dues?

Yeah, it is. By paying off all of your outstanding debts, you can easily close your bank account, which is beneficial to your future.

How much time will the Yes Bank take to close my account?

After validating all documentation, the Bank would usually shut the account within seven days. Following the completion of the account closure process, the Bank will send an SMS or email.

Can I close the Yes Bank account before 1 year?

Absolutely, clients can close their accounts before the end of the year. Nevertheless, if you close your account before the year is over, the bank will charge you a fee.

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