I have had the unfortunate privilege of owning a HDFC Bank 3-in-1 Account (Savings, Demat — linked to Savings, and Trading). The Demat and Trading accounts were used for a grand total of two transactions. The Savings account saw a token amount being deposited, then saw the two transactions, and then saw a zero balance. To date, I have no idea why I opened this account. I closed the Trading account by handing over a simple letter at the base branch. The Demat account couldn’t be closed because it was linked to the Savings, which therefore needed to be closed first.
Here’s how you can close your HDFC Bank Savings Account:
- Reduce your account balance to zero.
- Take a photocopy/scan of your debit card (for backup and safety).
- Take a photocopy/scan of the first and last unused check leaves in your checkbook (for backup and safety).
- Go to your base branch (where you opened your account).
- Fill out an account closure form.
- You’ll be intimated of your account closure by post. If you don’t receive any intimation within a week or two, call customer care and confirm account closure (keep your Customer ID and Phone Banking PIN handy).
- Tear-up your unused check leaves, debit card, and any other leftovers.
Any balance leftover in the account after closure will be returned via. demand draft. Uncredited interest amount, if any, will be accounted for in this reimbursement.
Here’s a pictorial view of the end of my HDFC Bank Savings Account.
Tip Tuesdays is my initiative to share practical personal finance tips — every Tuesday. I’d be delighted if you could share a tip or two from your own experiences. Drop a comment to submit your tip. And, as always, do spread the word if you find this useful.
Further reading:
- Tip Tuesdays: How to Close a Citibank Suvidha Savings Account?
- Tip Tuesdays: How to Close an HSBC Power Vantage Savings Account?
- Tip Tuesdays: If You’ve Got Overdraft Protection on a Savings Account, Call the Bank and Cancel It Right Now
- Tip Tuesdays: Why You Should Not Own a Credit Card From a Bank Where You Also Have Other Deposits
- Tip Tuesdays: Use Your Credit Card for Emergencies Only After You Have First Created a Real Emergency Fund with Real Cash in a Savings Account
{ 8 comments… read them below or add one }
No scissors this time? Your hands should have made it to the picture instead.
:-P
Anyway, how many other accounts (of different kinds) do you still own? May be you can start evening classes on closing bank accounts.
Good catch! I missed including the scissors.
And these accounts are a burden of the past S.
Oh! And btw, we trust you completely. You don’t have to give us pictorial evidence every single time
No, I am not complaining - pictures are always welcome, adds colour to your blog. Just letting you know.
Hi people, I will tell my friend’s experience in closing his HDFC bank A/C, simple, he left ZERO balance in his savings A/C and dint do any transactions for over 6 months and his A/C was deleted………..
Cheers
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Good Info on closing account. I opened my savings a/c, Demat a/c with HDFC when I was in India…later I moved to USA and still have those account active. Can you advise how can I close those from US?
Its been a long time vinaya. No posts from you ?
I am also planning to do same, any idea what to do with Credit Card