ICICI bank is a popular name among private banks as it offers a variety of banking services to its customers. Prominently, there can be many reasons to close a bank account. If you are also the one who doesn’t want to continue your bank account in ICICI bank, this guide will help you.
This guide contains every piece of information that will help you easily close the ICICI bank account. So, if you decide to close the bank account, let’s scroll down the article.
Simple Steps To Close ICICI Bank Account
If you have a bank account in ICICI bank and you are interested in closing it, follow the steps and close your ICICI bank account without any inconveniences.
- Step 1- Obtain the ICICI bank account closure form.
Get the ICICI bank account closure form, and it’s the first step you need to follow. You can acquire an account closure form from the bank or download the ICICI bank account closure form online through the bank’s official website or below we mentioned.
- Step 2- Fill up the information in the ICICI bank account closure form.
After getting the ICICI account closure form, fill in the details required in the account closing form. You must fill in the correct information to complete the account closing process in a short period of time. You need to fill in certain details such as the account holder’s name, the account holder’s signature, bank account number, contact number, and so on in the ICICI account closing form.
- Step 3- Attach the required documents and submit the form
Following the above steps, you need to attach a copy of the KYC documents along with the ICICI account closing form. The bank account holder must attach the KYC documents such as pan card, passbook, checkbook, and debit cards in order to cancel the bank account. It’s necessary to visit the branch and submit the account closure form to the bank manager.
- Step 4- Withdraw the amount and get the recipient slip
Before submitting the form, make sure to withdraw all your existing amounts from the bank account. Plus, don’t forget to get the acknowledgment slip that you will receive by submitting the ICICI bank account closing form to the bank manager.
- Step 5- Account closed
When you complete the steps accordingly, your ICICI bank account will get closed within a week, and you will receive a notification on your registered mobile number or email address.
NOTE: Sometimes, it is not easy for you to close the ICICI bank account for several reasons. In that case, you can contact customer care by simply making a call on toll-free number 18001024242. Alternatively, you can register your complaint on the official email id of the bank.
Things To Do Before Closing ICICI Bank Account
It’s critical for you to keep some points in mind before closing the ICICI bank account. Here, we mentioned some points to do before closing the bank account:
- Once you close your account in the ICICI bank, it will never allow you to reopen the account.
- It’s mandatory to visit the bank’s branch to close your account.
- Before closing the account, withdraw all your cash and clear all the dues in the ICICI bank account.
- Cancel all the automation payments and deactivate the card linked with your payment options and transactions.
- Make sure to keep a soft copy of the bank statement before deactivating the ICICI bank account, as several times; you might require the transaction details.
ICICI Bank Account Closure Form
Don’t get confused while downloading the ICICI bank account closure form. It looks the same as below.
You can download the form by clicking on the Download Button.
ICICI Bank Account Closing Charges
It’s one of the banks that features an easy way to close a bank account. However, the bank asks the individual to pay an account closing charge, and it can vary as per the type of the bank account.
If you are a user of ICICI bank and want to close the bank account, you should be aware of the account closing charges. The bank charges 1000 rupees if you close the account within six months, whereas the customer has to pay 500 rupees after six months of account closing. The account closing charge is nil if you close the bank account within 14 days.
Conclusion: Key Take-Away Points
With the help of this guide, you can quickly close your ICICI bank account. If you wandered a lot in search of “How to close an ICICI bank account,” follow the steps that we enlisted above and close your existing ICICI bank account without any hassles.
Moreover, there are various reasons to close the ICICI bank account, such as high maintenance charges, unsatisfied banking services, impotent to maintain a minimum balance, and much more. For whatever reason, you are willing to close the ICICI bank account, download the account closing form by following the steps accordingly and close the bank account effortlessly.
Frequently Asked Questions
How Can I Close ICICI Bank Account Without going To The Bank?
You cannot close the ICICI bank account without visiting the branch. It is compulsory to visit the bank to close your existing account.
How To Close ICICI Bank Account Online?
No, there’s no option to close the ICICI bank account online. In order to close the ICICI bank account, you need to visit the branch.
Can I Close ICICI Bank Account Through Net Banking?
No, you cannot close the bank account of ICICI through net banking; it’s mandatory to visit the bank.
Can I Close ICICI Bank Account If I’m Not Maintaining A Minimum Balance?
Yes, it is advisable to close the bank account if you are unable to maintain a minimum balance in the bank account.
Are There Any Charges For Closing An ICICI Bank Account?
ICICI seeks charges to close the bank account. If you close your ICICI bank account within 14 days- 6 months, the bank will charge 1000 rupees. If you close the account after six months, you need to pay 500 rupees. There’s no charge if you close the ICICI bank account within 14 days from the account opening.
Can I Close ICICI Bank Account With A Negative Balance?
If your ICICI account has a negative balance, you may find it difficult to close the bank account as the bank will not allow you to close the account. So, pay all your dues to close the account easily.
What Happens If The Minimum Balance Is Not Maintained In ICICI Bank?
If your ICICI account doesn’t have a minimum balance, the bank will charge a penalty amount. The bank charges are different as per the account type; however, ICICI bank charges 350 rupees as a penalty charge if you don’t maintain a monthly balance.
Can I Close The ICICI Bank Account Before One Year?
Yes, ICICI bank allows its customers to close the ICICI bank account before one year. However, the bank will charge a certain amount if you close the account between 14 days to 6 months.
Can I Change ICICI Bank Account To Zero Balance?
The bank allows customers who do not have an existing account to open a zero balance account. You can open a zero-balance account online or by visiting your nearest bank.
How Much Should I Maintain Not To Close The ICICI Bank Account?
ICICI Bank set a rule of the minimum account balance that you should follow. If you are living in a rural area, you need to maintain 2000 rupees in the bank account. In urban areas, you need to make a balance of 5000 in your ICICI bank.
