Online banking facilities have made it easy for customers to work with their bank tasks while on the go. With the aid of online banking, customers can transfer funds, check bank balances, download bank statements, and even open a bank account online. The only thing which is not possible online is to close a bank account. Very rare banks may have approved closing a bank account online, but many banks haven’t provided this facility yet. In this article, we will lead you about how to close Indian overseas bank account online?
|Article||Indian Overseas Bank Account Closing Form|
|Bank||Indian Overseas Bank|
|Beneficiary||Indian Overseas Bank Customers|
|Form PDF Download||Download Here|
However, there is no way to close bank account online. To close overseas bank account, you have to visit the nearby overseas bank branch to close the account. The headquarters of Indian Overseas Bank is in Chennai. IOB has over 2600 branches and more that provide essential banking services. In addition, IOB has a well-organized in-house information technology department and provides the most incredible banking services to customers.
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How to close Indian overseas bank account online?
By visiting the branch, you can close the account. First, however, you must complete the closure form to have the funds in your account moved to another bank account of your choice. When you end the account, you must deposit the cheque book and any unused check leaves, as well as the ATM card. Follow the below given detailed stepwise procedure to close Indian overseas bank account:
Pro tip: You can also gather all the documents and go to the Indian Overseas bank main branch. Then, get the IOB account closure form, fill it out, and submit it. It will save you time, and if you have any questions, you may ask them directly to the bank while filling out the form.
Get Indian Overseas Bank Account Closure Form (PDF Format)
The account closure form, available at the bank, will request a reason for the closure. Many consumers, however, find it challenging to download the account closure form online. Therefore, you can download the Indian Overseas Bank account closure form from our page directly (IOB account closure form Download link given below) or look for the IOB account closure on the Indian Overseas Bank official website. All account holders must sign the form.
When closing a bank account, it is necessary to submit an account closure form and the necessary papers.
Application Format To Close Indian Overseas Bank Account
To, The Bank Manager, Indian Overseas Bank Branch Name Branch Address Subject: Request to Close Indian Overseas bank account. Sir/Madam, I require to close my Indian Overseas Bank savings/current account. However, I have created a new bank account with another bank, and I cannot have two bank accounts open at the same time. Therefore, I humbly request that you expedite my application and close my Indian Overseas Bank account with the following details: Account number [ ], IFSC code [ ], and account holder name [ ]. Please handle my account closure request as early as possible. Thank you Yours sincerely [Name] [Signature]
You can also read articles like Stepwise Procedure On How To Close Central Bank Of India Account Online?
Indian Overseas Bank Minimum Account Balance
- For non-cheque operated accounts in rural and semi-urban branches, the account holder must keep a minimum balance of Rs 100
- For cheque-operated accounts, the account holder must maintain a minimum balance of Rs 500. (rural and semi-urban)
- A minimum balance of Rs. 500 for non-cheque operated accounts (For all other branches)
- Rs. 1000 for cheque-operated accounts is required. (For all other branches)
More bank account-related articles are available on our website. Click here
Indian Overseas Bank Account Closing Charges
If you decide to close your Indian Overseas Bank account within 14 days of starting it or after 12 months of opening it, you will not be charged any fees or penalties. An amount of Rs.500 or the balance in the account, whichever is lesser, would be charged if the Indian Overseas bank account is closed within 15 days and 12 months after it was opened.
|14 Days of Account Opening||Nill|
|15 Days -12 Months of Account Opening.||Rs.500 or balance in the A/c (whichever is lower)|
|12 Months after Account Opening||Nill|
How to close Indian Overseas Bank account?
How much minimum balance in Indian Overseas Bank to be maintained?
How to close IOB bank account online?
Can I close my bank account without KYC documents?
What are the charges for not maintaining minimum balance in IOB?
Can I close Indian overseas bank joint account without the signature of the joint account holder on the IOB account closure form?
Is it necessary to pay the dues before closing the bank account?
You may have noticed that closing Indian Overseas Bank account offline is as simple as going to your local bank. There is, however, no method to close Indian Overseas Bank account online. Therefore, closing Indian Overseas bank account is rarely advised. We have presented all of the required information on how to close Indian Overseas Bank account online. In the event of doubt, you can contact Indian Overseas Bank customer support at 1800 425 4445.
1 thought on “How to Close Indian Overseas Bank Account Online?”
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