Dear readers if are you looking to know about Canara Bank Account closing charges? If yes then you came to right blog.
In this article you get to know about Canara Bank Account Closing Charges and its Savings Bank and Current Account closing charges.
This article is written after referring Canara Bank official website and reading more than 2 articles related to Canara Bank Account Closing charges. These charges is based on age of the Saving Bank Account and Current Account.
INTROUDUCTION TO CANARA BANK ACCOUNT CLOSING CHARGES
Canara Bank is one of the prominent and very important player in Indian Banking sector from several decades. Its having very strong reputation, strong customer centric approach and having strong financial performance. It’s started in the year 1906 in Mangalore, Karnataka. Its having wide range of products and services.
REASONS TO CLOSE BANK ACCOUNT
- Charges debited by bank: Bank debits ATM card charges, account maintenance charges and other several charges. These unnecessary charges may lead to close the account with the bank.
- Relocation from one place to another place: Customer relocate himself/herself from one place to another bank due to his/her work and other aspects.
- Lower rate of Interest: If other banks offering higher rate of interest, customer may close his old account and open new account with other bank.
- Service Dissatisfaction: Customer not happy with the service provided with branch this may lead to closure of account with the branch.
CANARA BANK ACCOUNT CLOSING CHARGES
- If customer closes his saving bank account within 14 days from the date of account opening. Canara Bank not charge any amount for closure of the account.
- If customer closes his SB account beyond 14 days to 1 year bank will charge Rs 200+GST for closure of the account.
- If customer closes his SB account after 1 year from the date of the opening of the account. Bank will charge Rs 100+GST for closure of the account.
CANARA BANK ACCOUNT CLOSING CHARGES (CURRENT ACCOUNT)
- If customer closes his Current account within 14 days from the date of account opening. No charges collected from the customers.
- If customer closes his Current account beyond 14 days to 1 year bank will charge Rs 750+GST for closure of the account.
- If customer closes his Current account after 1 year from the date of the opening of the account. Bank will charge Rs 375+GST for closure of the account.
EXCEPTIONS TO CANARA BANK ACCOUNT CLOSING CHARGES
For the following types of account bank doesn’t charges any closure fees.
- Death of the Account Holder.
- Transfer of Account from one branch to another branch.
- In case one SB/CA account is closed and joint account is opened with one person as the account holder of the closed account.
VIDEO CREDIT: AY TECH SUPPORT (CANARA BANK ACCOUNT CLOSING CHARGES)
FAQs ON CANARA BANK ACCOUNT CLOSING CHARGES
Is there any charges for closing Canara Bank account?
Yes there is charges in closing Canara Bank Account. Its ranges between Rs 100+GST to Rs 750+GST
Can I request to close a bank account online?
Few Banks allow to close the Bank Account Online. But you need to visit Bank Branch to close the account.
How long does it take to close a bank account?
The process can take a day, a week, or even a few months. In most cases, closing a bank account can be finalized in one or two days.
Dear reader after reading this article you got to know about Canara Bank account closing charges, Reasons for account closing, charges for Saving Bank and Current account closing.
Account closing charges in Canara Bank ranges between Rs 100+GST to Rs 750+GST. If you have any query regarding this article kindly comment below.