Bring the balance to zero

Clear any pending dues

Take a copy of your entire bank account statement from the bank

Go to the bank branch

Ask for the Account Closure Request form

Fill the form

Mark what you want to do with the remaining balance –

– withdraw cash
– transfer to another a/c
– get a cheque or DD

Return cheque book, passbook and debit/credit card

Submit Identity proof and Address proof documents

Savings account is a bank account in which you can deposit and withdraw money.

The bank will pay interest on your money in the savings a/c.

The interest is calculated on a daily basis. It gets credited periodically.

Interest rates range between 2.5% to 7.5% depending on daily balance. (subject to change)

Most banks offer zero balance accounts. So, we don’t have to maintain a minimum balance.

The rate of interest we get for keeping our money in a savings a/c is low compared to other investment options.

You can open a savings a/c by visiting the bank branch or online.

You can also close your savings a/c in a bank if you are not satisfied with the service, but it is not advisable.