If you have an account with ICICI bank, then there may be situations that you may want to close it for some reason. Closing an account in ICICI Bank is very simple and you just need to generate a proper request to the bank. For this, you have to fill out the ICICI Bank closure form which can easily be downloaded from the official website of the bank or can be collected from any branch of the ICICI Bank. Closing an account with ICICI Bank is a very quick process and it doesn’t cost you any extra costs or expenses. An important thing to note here is that, if you don’t have a salary account, then you can not close the account if there is a negative balance in it. Therefore to close an account in ICICI bank, first of all, you again have to make it positive i.e to add a minimum balance in it, and then should request for the closure.
Before closing an account in ICICI Bank, you must take care of various things which are:
You must transfer all the services that are related to your ICICI Bank account.
You must block your credit card, debit cards associated with the bank account that you want to close.
You must transfer the money in your ICICI Bank account to some other account or should withdraw it.
You must cash out all checks which are not already cashed.
Reasons to Close ICICI Bank Account
There are many reasons that a person may want to close his account in ICICI Bank.
- A person may want to close an account in ICICI bank because he is not able to continue it due to higher maintenance charges or due to the high limit of minimum balance.
- A person may want to move or open an account in some other bank.
- A person is moving to some other country.
- Due to the low balance in your ICICI Bank account, you have to pay some charges. In such a situation, it is better to close your account rather than paying low-balance charges.
- A user may also want to close an account in ICICI bank if he has not made any transaction through it and it is unused.
Steps to Close an Account in ICICI Bank
To close an account in ICICI Bank you have to give a request by filling out the application form and the follow the below steps:
- You have to download the ICICI Bank account closure form from the official website of the bank.
- You can also ask for the account closure application form from the nearest branch of the ICICI Bank.
- Now you will have to enter all the information required in this form.
- After filling the form, visit the nearby branch of ICICI Bank
- The concerned person will ask you the reason for closing the account.
Handover all passbooks, Credit Card, Debit Card, chequebook, etc to the attendant in the ICICI Bank branch.
- You will have to show your Aadhar Card, Voter Card, PAN Card, etc to verify your identity.
- After verifying all the details your account closure form will be collected by the attendant
- You will also receive a receipt as the acknowledgment of accepting your request.
- The processing for closing your ICICI Bank account starts and you will receive a confirmation message with 2-3 working days.
Documents required for Closing ICICI Bank Account
You may have to submit the following documents while submitting the application form for closing your ICICI Bank account.
- Submit Passbook
- Credit Card
- Debit Card
- Documents for proving your identity. You can show Aadhar Card, Voter Card, Driving License, etc as identity proof.
How long it takes to close ICICI Bank account
Although closing an account in ICICI Bank is not a big task and it doesn’t require any extra effort, but still it may take 2-3 business days to get it closed once you submit the application for closing it. Closing an ICICI Bank will not take more than one week in extreme cases like bank holidays, strikes, technical issues, etc.
Cost of Closing ICICI Bank Account
For closing an account in ICICI Bank you will have to pay no cost and it is absolutely free if you give a request for closing the account within two weeks of opening it. But when you transfer the balance to some other bank account or withdraw your money from your current account, then you may have to pay some maintenance costs. When you give a request to close the ICICI Bank account after two weeks of its opening, then you will also have to pay a minimal closure fee.