Bank of India is a well-reputed public sector bank for its best services like Internet banking, Home loans, Gold Loans, F.D., Investments, and for its good interest rate. Once a person opens an account with the Bank of India, there is a very sparse chance that they desire to close it.
For various reasons, one is willing to close the account in BOI, and if you are clear about your decision to close your bank of India account, you are at the right place. If you don’t know about it, then this guide will play a complete role of guidance by giving you the steps on how to close a bank of India account.
Easy Steps To Close Bank Of India Account
If you are willing to close the respective account in the Bank of India, you can follow the below-mentioned steps:
- Step 1- Account closure form
Download the account closure form from the official website of BOI or get the form through the bank branch. After getting the form, you have to fill up the account closure form with correct details such as:-
1 Account holder name
2 Account numbers that you would like to close
3 Bank linked mobile number and Email ID.
4 Mention the mode of payment you would like to receive your remaining amount mode like Cash, Cheque, D.D., etc.
- Step 2- Documents attachment
After filling the form without error, attach your KYC documents such as aadhar, pan, etc., and make sure that all your documents are self-attested.
- Step 3- Form submission
Lastly, after completing the following steps, visit your bank account branch and submit the form with your self attest sign and self-attested documents to the branch manager. Also, submit your remaining passbook, cheque, and cards. Don’t forget to mention the mode of payment through which the remaining amount will be credited to you.
- Step 4- Account gets shut down.
After submitting the form, you will be notified within 7-8 days about your closed account in the Bank of India. You will get an email or SMS to your registered mobile number.
Also Read: How to Get Money from a Closed Bank Account?
Important Points Keep In Mind Before Closing Bank Of India Account
- Make sure to pay all the dues before closing the respective account.
- You have to clearly suggest the mode of payment with which you want to get your remaining amount.
- Open another bank account to transfer the money.
- Delink the BOI cards from the automatic transactions.
Note: If you have any other dispute by any chance, you can consult with your bank branch manager or customer care executive of the Bank of India. They will help you out. You can simply call on customer care number- 1800220229 / 18001031906.
Bank Of India Account Closure Form
It’s easy to get the BOI account closure form online; alternatively, you can visit the branch and ask them for an account closure form.
If it’s difficult for you to visit the Bank Of India branch, simply click the link of the Bank Of India account closure form download and get the form that appears as the same in the given picture.
Bank Of India Account Closing Charges
Usually, the Bank Of India will charge the amount between 500 rupees to 1000 rupees if you close the account within 14 days.
However, the specific charges are not proclaimed by the respective bank as they can be variant as per the account type. Additionally, the account closing charges in BOI might be different in every branch, so you can directly contact the staff of the bank or bank manager.
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Frequently Asked Questions
From Where Can We Get The Bank Of India To Account Closure Form?
You can get a Bank of India to account closure form by visiting the branch where you have an account. Alternatively, you can also download the form from the official website of the bank.
What Are The Payment Modes Provided By The Bank Of India?
For transferring your remaining amount, the bank allows different ways such as Cash, Cheque, Demand Draft, and Fund transfer. You can choose any comfortable way through which you would like to get the remaining amount.
Is It Necessary To Maintain A Minimum Balance In A Bank Of India Account?
Yes, it’s mandatory for an individual to maintain a minimum amount in the bank so that they can easily avail of the bank facilities.
Can I Shut Down The Bank Of India Account Online?
There’s no option of closing the BOI account online. You need to visit the branch in order to make your account closed.
Is It Essential To Write A Letter While Closing The BOI Account?
Yes, you have to write a letter to the bank manager explaining the reason why you are closing the account and submit the request with your attached sign.
Is It Possible To Close The Account Without Visiting The Brand BOI?
No, for closing the BOI account, you should visit the branch to get the form or submit it to the bank manager.
Can I Close The Bank Of India Account With A Negative Balance?
If you do the same, the bank will charge some extra amount and doesn’t allow you to close the account. It’s mandatory to maintain a minimum amount in the account.
Can I Close The BOI Account Before One Year?
Yes, the Bank Of India allows their customers to close the account before one year. However, the bank will charge a certain amount in closing the account in between a year from the account opening.
What Are The Documents That Are Required In Closing The BOI Account?
To close the Bank of India account, you need to submit the KYC documents such as an aadhar card, pan card, photograph, and a handwritten application.
