Yes Bank is a popular commercial bank in the Indian banking system. It offers various kinds of banking services in order to ease the life of the commons.
However, there can be many reasons that influence an individual to close the account with Yes Bank. If you are struggling to close the Yes Bank Account, you arrived at the right place. This page will help you to close the account with Yes Bank.
Before diving in-depth; let’s find what the reasons that influence a person to close the bank account are:
- Unsatisfied interest rate
- Unsatisfied banking services
- Multiple accounts
- Misbehaviour of bank staff
- High maintenance charges
- Not proper online services
Now, let’s get the steps to close the account in Yes Bank.
Steps to Close Yes Bank Account
If you are finding difficulty in closing the Yes Bank account, follow the below mentioned steps to close the account with no hassles.
Step #1: Download the account closure form.
You can download the account closure form of Yes Bank from Yes Bank’s official website, or as mentioned below or you have to visit your bank branch and ask the manager for the account closure form.
Step #2: Accurately fill up the account closure form
After getting the account closure form, fill in the details asked in the form. Make sure the details you are filling in are accurate. There is no place for mistakes; otherwise, the Bank will reject your form. The details you have to fill in the form are-
- Name of candidate
- Registered mobile number or email id
- The account number you would like to close
- Payment mode through which you would like to get your remaining balance
Step #3: Attach your KYC documents.
After completing the second step; now, you have to attest your KYC (Know Your Customer) documents like PAN, Aadhar Card, and residential proof. Banks may ask for self-attested documents, so sign on every document and if the account is joint, so make sure all account holders have to sign on the documents. Any mistake will be the reason for your application rejection, so follow every step widely.
Step #4: Surrender your remaining documents.
When all the above three steps are done, you have to submit the form to the bank branch manager, but along with the form, you have to submit your remaining bank documents like Passbook, chequebook, Debit card or credit card (if you have). Your account closing request is taken in the process only after the submission of all your remaining documents.
Step #5: Your account get closed
Once the Bank verifies all documents submitted are correct, your account gets easily closed. If you follow all these above steps without any mistake, you can easily close your account in Yes bank without any hassle. After verifying all details and documents are correct, the Bank will close your account and send an email or SMS on your registered mobile number or email ID.
Also Read: How to Get Money from a Closed Bank Account?
Things To Do Before Closing Yes Bank Account
- Unfortunately, Yes Bank doesn’t allow their customers to close the account online. Thus, you have to visit the Bank’s branch to close the account.
- Once you close the account in Yes Bank, the Bank will never allow you to re-open the account.
- Open a new account before shutting down the Yes Bank account.
- Make sure to get a soft copy of the bank statement for future use.
- Before closing the Yes bank account, unlink all your automation payments linked with the Yes Bank cards.
- To experience a hassle-free account closure, pay all your dues and pending charges to the Bank.
Yes Bank Account Closure Form
In order to close the Yes Bank account, you need to get the account closure form that is easily available on the official website of Yes Bank or as mentioned below. You can easily download the Yes Bank Account closure form in PDF form by clicking on download button:
Yes Bank Account Closure Application
To close the account in Yes Bank, you need to submit an account closure request to the bank manager, in which you have to fill in the reason. You don’t need to tackle your mind as here we attach the application form that you can fill easily and submit to the Bank. Click on the link to download the Yes Bank account closure request form.
Yes Bank Account Closure Charges
If any account holder applies for a closing account within 30 days of opening the account, Yes bank will not charge any amount. But, if account holders close their account after 30 days or more, the Bank will charge a certain amount that may be different, depending on the type of account.
The Bank charges a standard amount on account closing. If you close the account after 30 days of account opening, you have to pay 500 rupees+GST.
Frequently Asked Questions
Can we use Yes Bank Online services to close the account?
No, you can’t use Yes bank online services for account closing. The Bank only provides the option to download the form from the website.
Is it necessary to visit the Yes Bank?
Yes, in order to close your account, you must visit your bank branch. The account closure process can’t be complete without visiting the bank branch.
What will happen if I do not maintain the minimum balance in the Yes Bank account?
If you are not maintaining the minimum balance in the bank account, the Bank will penalize you.
What are the KYC documents that I need to submit while closing the Yes Bank account?
KYC documents are Know Your Customers documents that are asked by the Yes Bank. KYC documents include PAN card, Aadhar card or any address proof document.
Can we close the Yes Bank account in a negative balance?
Generally, banks do not allow any account holder to close the account with a negative balance. You may find difficulty in closing the bank account if your account has a negative balance.
Can I close a Yes Bank account through net banking?
No, there’s no option provided by the Yes Bank to close the account.
Can I open a zero balance account in Yes Bank?
Yes Bank offers zero balance accounts to their customers in which you don’t need to worry about maintaining a minimum balance in the account.
Is it necessary to settle old dues?
Yes, it is. By clearing all your pending dues, you can easily close your account in the Bank, and it’s all good for your future.
How much time will the Yes Bank take to close my account?
Generally, the Bank will close the account within seven days after verifying all documents. The Bank will send an SMS or email after the completion of the account closing process.
Can I close the Yes Bank account before 1 year?
Yes, the Bank enables their customers to close the account before a year. However, the Bank will charge an amount to close the account before a year.