NSDL bank asking for charge on a/c closure

Deal Subedar

Got this reply from nsdl when mailed them to close my savings account. My a/c is more than 1 year old, so is this charge justifiable?

Dear Customer,

Request you to kindly submit below mentioned documents for closure of account:

1.Account closure form duly filled without any cancellation/overwriting (Attached)

2.Self attested PAN card copy

3.Cancelled cheque having your name or bank statement of alternate account (in your name), in which credit needs to be given for available balance lying in account if any.

4.Request you to please ensure adequate funds are available in the account for deduction towards account closure fees of ₹ 590 (inclusive of GST).

We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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Benevolent Benevolent
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Maybe they changed the account closure time for fees, ask them reason for this
Deal Cadet Deal Cadet
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if your account is older than 18 months there is no fees for account closure otherwise you have to pay 500 plus gst

Deal Cadet Deal Cadet
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i am also trying to close my account, they are not responding to my mails.

Finance Mentor Finance Mentor
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Reading TnC of any bank before account opening is generally a good idea:

  • Account Closure Charges: Rs. 500 + GST

Applicable only if the account is closed after 14 days and within 18 months of account opening

Deal Cadet Deal Cadet
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do they charge monthly maintenance fees also, as they cut Rs.5 +gst on 1st April. do they charge every month?

Finance Ninja Finance Ninja
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Yes they do!
Finance Ninja Finance Ninja
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wait to complete 18 months for your account and then close it,it will be free! @ansh7

anyways there is no debit card fees just 5.90/Month so it is not a very big loss!

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