Closing of Bank accounts may some times be required for various reasons. And in case if you are in need to close your account in any Bank in India (say SBI, ICICI etc), here is the process for ‘How to close a bank account?‘. You need to write a formal letter in person and hand it over to the Manager of the Branch at which your account exists.
No such downloadable forms exist in this case as in case of opening an account. Just take a white paper and start writing your letter;
Address of the bank/branch.
Subject: Closure of Bank account
Describe here the reason for closure of your account (Savings/current) and give the account details such as name of the account holder(s), contact number, if required and how long ago was that account opened. Also mention that you are handing over the Cheque book and Debit card (if applicable) back to the bank.
Name of the Account holder(s)
Note: If you have any money in the account which you are about to close, it is advised to transfer them to another existing and working account before hand. Even though you can ask the bank to make a DD in favour of you/your company with the remaining amount while closing the account, why not make it easy for them?
Along with this letter, some banks may require you to fill a separate form when you visit the bank to close the account.
This is the process to follow to close a savings account which you have opened via your Internet Banking too.
In case you want to close a Fixed or Term deposit account which you have opened physically at bank, you just need to visit the bank, get the appropriate mandate form and close the account.
Or, if you want to close a FD which you opened online, you can do it right from where you have opened it; that is from Internet Banking.