How Long Does It Take To Close HDFC Bank Account?

Can I close my HDFC account with negative balance?

Either manager will close the account or the account will be dormant…..

For account closure we need to make it positive, if do not want to close then no need to pay but your -ve amount will be increase month by month.

We may required hdfc in future for any loan so i think its better to pay and close the account..

Is there any charges for closing bank account?

Generally, if an account is closed within 14 days of the opening of an account, banks don’t charge any additional charges. However, any closure of the account after 14 days but before a year might attract account closure charges. Also, closure of an account after 1 year normally does not attract closure charges.

Is it possible to close HDFC Bank account online?

Note: You can’t close HDFC Bank account online, but account closure form can be downloaded online. To close your account in an easy way, ensure that you drain out all the funds parked in your account. … The balance in your account should be Zero. Now you can go to the nearest branch and approach the bank executive.

What happens to your money if the bank closes?

When a bank fails, the FDIC must collect and sell the assets of the failed bank and settle its debts. If your bank goes bust, the FDIC will typically reimburse your insured deposits the next business day, says Williams-Young.

Can a bank close your account and keep the money?

As soon as you receive notice that your bank has closed your account, you need to take immediate action in order to be able to continue to pay your bills and manage your money. … The bank can hold any money that you currently owe in overdraft fees and charges, but you may need that money to pay your rent and other bills.

What happens if your bank account goes negative and you never pay it?

When your leave your deposit account negative your bank can impose fees, freeze the account and eventually close it. Bank accounts that are closed with negative balances are often reported to credit agencies and show up on your credit report as unpaid debts.

How long can your bank account be negative?

around 60 to 90 daysIf an old account has a negative balance you haven’t addressed, the bank may close the account and send the debt to collections. The process is known as a charge off, and your bank usually initiates this after your account has been past due for a period of around 60 to 90 days.

Is there any charges for closing HDFC bank account?

For closure of savings account, an HDFC Bank customer, depending on the nature and tenure of the account, will have to pay a fee of Rs 500 and if the average monthly balance falls below Rs 20,000 in nonurban centres, it will charge Rs 500 a month, according to its website listing various charges effective January 2012.

How long does it take to close out a bank account?

Closing a bank account can take anywhere between a day and several months, depending on multiple factors.

Can I close my HDFC salary account online?

It is not possible to close HDFC Bank Account online because your physical presence is required to know your reason for the closure of your account. To close HDFC Account, we have to go the Branch where we have opened the Account ? NO, You can go any of your nearest HDFC Branch to close your account.

What is minimum balance in HDFC Bank?

For savings account in metro cities, HDFC Bank may charge you as much as 600 rupees for not maintaining the minimum balance. With service Tax and other cess, the amount is more than Rs 600. The minimum balance limit in case of HDFC Bank is Rs 10,000 for urban branches and Rs 5,000 for semi-urban branches.

What happens when you close a bank account with money in it?

Most banks, when closing your account, would like to see the account being at zero before they proceed with the closure. If you have funds in your account, you can either withdraw them, transfer them, or the bank will deduct certain charges from them in order to cover its costs.

How long does it take to close HDFC account?

Usually HDFC Account will close in 7 Business days. Other cases it will take 2 weeks. If you done with the above steps, you would be able to close your bank account in a hassle free manner. You’ll be communicted about closure of your account via E-mail and you registered Mobile Number after the process is done.

Can I close HDFC account before 1 year?

Any closure of the account after 14 days but before 1 year may be subject to account closure charges. Normally, closure of an account after 1 year are not subject to closure charges. Balance in the bank account can be paid in cash (up to Rs 20,000 only).

Can I close my account with a negative balance?

No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so.