How to Close Your South Indian Bank Account?

We keep our money at the bank for many reasons, and the bank makes sure us for saving them. A bank usually works on financial trading that multiplies our saved money, currency exchange, loans, insurance, etc. This financial institution helps us to manage our money-related tasks. We also use a bank account for salaries, and the company keeps using the bank account consistently. Apart from this, sometimes we have more than 1 bank account to use, and it requires us to maintain the minimum account balance. Every bank has some rules to be followed, and those rules keep the privacy of our bank account.

Sometimes we need to open different bank accounts to balance our future savings, and the bank’s different interest levels control our rasing of the savings. But, if we have multiple bank accounts, this could be trouble also. Every bank account has a minimum balance required apart from your deposited money.

There we need to segregate the banks and close the unused bank accounts if we have any. Besides, there are other reasons as well for closing the bank account like the city or state change, misbehavior of bank’s staff, Demat account, etc. Today we are going to share the South Indian Bank account close.

South Indian Bank is a private bank registered as the second scheduled bank by the Reserve Bank of India and has 924 branches and 1 service branch across India. The South Indian Bank has an online bank account opening system as well as every financial facility you want.

The South Indian Bank has fast and genuine service for its customers. They have digital forms for all kinds of banking systems, but they don’t have a bank account closing form on their website yet. Since we are here to share the closing steps for the South Indian Bank account, we are mentioning the steps here.

Steps to Close South Indian Bank Account

If you want to close your South Indian Bank account, you have to follow the steps below,

Step 1: You have to visit the South Indian bank branch to close the bank account as they don’t have an online bank account closing system yet. Ask for the bank account closure form from the staff.

Step 2: Keep your bank documents like Passbook and Checkbook with you. Apart from this, bring your Pan card, Adhaar card, and Voter card with you because it will help you to smoothen your process.

Step 3: Go through the form and write the account holder’s name in block letters. Mention the nominee’s name also.

Step 4: If you have the KYC form, attach it to the main form before submitting it. Make sure you check everything you have written and keep it clear.

Step 5: Your signature should be clear and must be the same as you have done at the time of account opening.

South Indian Bank account closing charges

Type of Account Closing Charges	Account Closing Charges
Saving Account Closing Charges	Account closure before 6 months – Rs. 75 Account closure after 6 months – Rs. 25
Current Account Closing Charges	Account closure before 6 months – Rs. 150 Account closure after 6 months – Rs. 50
Salary Account Closing Charges	Account closure before 6 months – Rs. 150 Account closure after 6 months – Rs. 50
NRE/NRO Account Closing Charges	Account closure before 6 months – Rs. 150 Account closure after 6 months – Rs. 50

Conclusion

The South Indian Bank is the earliest bank in South India that started for offering the safest and most efficient service. It is India’s first Currency chest on behalf of RBI since 1992. South Indian Bank has a technical team of professionals to serve its customer in a better way. As we are talking about the South Indian Bank account closing, the reasons we mentioned above behind it are legit, and it’s necessary sometimes.

But there are some account closing charges for the South Indian Bank account. While the bank account is closing, the bank staff will ask you for the closing charge to deposit, and they will proceed with your request. The bank staff helps you while filling out the form. If you have any queries regarding the South Indian Bank account closing, contact the toll-free number given on their official website.