Depending on the type and duration of the account, and HDFC Bank customer will be charged a fee of Rs 500 to close a savings account. In non-urban centers, if the average monthly balance falls below Rs 20,000 per month, it will cost Rs 500 each month.
Is it possible to terminate a bank account online? Yes, many banks enable you to cancel a bank account online if your account is in good standing and has no outstanding balance.
In metropolitan areas, HDFC Bank may charge as much as 600 rupees for failing to maintain a required balance in your savings account. More than Rs 600 is charged with service tax and other fees. If the deficit is less than 50 percent of the MAB, the bank will charge Rs 50 plus service tax.
The salary account is not closed straight away. It will be regarded as a savings account if there is no salary credit in the salary or zero balance account for three months. Individuals must maintain a required Average Quarterly Balance (ABQ) as advised by the bank if it does not close immediately after three months.
The Bank has the right to close any account with zero balance, regardless of status, without warning.
