HDFC Bank to charge Rs. 500 to close bank accounts!

In some cases though. If you are not a worthy customer I guess.

According to the HDFC Bank website, for closure of savings account, the Bank customer, depending on the nature and tenure of his account, will have to pay a fee of Rs500 and if the average monthly balance falls below Rs20,000 in non-urban centres, it will charge Rs500 a month.



HDFC Bank to charge Rs500 to close saving bank account — www.moneylife.in — Readability

 

[IndianMascot]

I have never closed any bank account and left them abandoned . Because all banks have almost similar policies.

 

[Sushubh]

since they would cut charges for having a low balance... your account balance would go into negative. and that might end up hurting your credit rating. just saying. it is never a good idea to leave a bank account inactive.

 

[IndianMascot]

I had closed my accounts in PNB, DCB, State Bank of Indore, Axis Bank and ICICI Bank. And except ICICI Bank, I don't think I would be in a situation to go back to rest of the bank. So, this is the reason I left the accounts abandoned. ICICI was my Salary Account, So I don't think I need to worry about. What Say ??

 

[agantuk]

20000 AVB in NON-urban areas? Have they lost it? Even ICICI charges 5000 for non-urban and 10K for urban

----------

since they would cut charges for having a low balance... your account balance would go into negative. and that might end up hurting your credit rating. just saying.

The rascals screwed my credit rating without even giving me any benefit of all that. They did around 15 enquries to give me a ****ing credit card, this after they themselves were after me for giving me a card. Bastards

 

[mehrotra.akash]

ICICI is 2k for ruralI have an account with just 1k min balance

 

---

[Sushubh]

i am in a mess basically. 25K on Standard Chartered. 10K on ICICI Bank.

----------

20000 AVB in NON-urban areas? Have they lost it? Even ICICI charges 5000 for non-urban and 10K for urban

----------


The rascals screwed my credit rating without even giving me any benefit of all that. They did around 15 enquries to give me a ****ing credit card, this after they themselves were after me for giving me a card. Bastards

are you sure that it hurts your credit rating? i know that this is something that happens in USA (and Europe?). but here in india too?

 

[manu1991]

Is this even legal to apply this on existing customers? I mean when someone opened an account, they were under the impression that closing that account would be free but now the bank says pay up 500 bucks? seems unfair.

 

[mehrotra.akash]

^^ Check out CIBIL, not as integrated as the US system, but yes it does exist

----------

Is this even legal to apply this on existing customers? I mean when someone opened an account, they were under the impression that closing that account would be free but now the bank says pay up 500 bucks? seems unfair.

Are we sure its applying?

Cause increases in min. bal dont apply to old customers atleast

----------

Is this even legal to apply this on existing customers? I mean when someone opened an account, they were under the impression that closing that account would be free but now the bank says pay up 500 bucks? seems unfair.

Are we sure its applying?

Cause increases in min. bal dont apply to old customers atleast

 

[manu1991]

no idea. logically, it shouldn't apply to existing customers.