Saving bank account of a customer can be closed on the written request of the customer. The signature(s) of the customer(s) in the letter of request must be verified with the specimen signature.

Passbook and unused cheque book must be obtained from the customer intended to close the account. A declaration must be obtained from him confirming that no cheque issued by him are yet to be presented for payment.

In case the account is closed before expiry of six month from the date of opening of the account, service charges as specified by the head office shall be levied and credited to commission account. However, service charges shall be exempted in the following cases:

i.                    Where account is closed for transferring the same to another branch.

ii.                  Where account is closed to open another account in joint names.

iii.                Where account is closed transfer of amount to another account i.e. fixed deposit, long term deposit etc.

iv.                 Where account is closed due to the death of customer.

In the case of joint accounts, all the joint account holders should sign the request letter for closing the account. In respect of a joint account where one of the joint account holders expires, the account can be closed by obtaining discharge for the balance amount in the amount, from the surviving depositors. If one of the surviving depositors is a minor or where the only surviving depositor is a minor, such an account can be closed by obtaining a discharge from the guardian on behalf of the minor.

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