How to close ICICI Bank account permanently? Why it is important?

How to close ICICI Bank account permanently? :- Do you want to close your ICICI Bank account? Do you unable to maintain the minimum balance? It is the right place for you. Here I am going to share all the steps.

ICICI Bank is the second popular private bank in India, headquarters in Mumbai. It provides banking services and its branches are available across the country.

It is important to say that the minimum balance of Rs.10,000 is requiring a regular saving account. If you unable to maintain the minimum balance then the bank penalize you some charges. So close your account immediately.  Follow my steps related to “how to close ICICI bank account?”

A senior executive of ICICI bank said, “We normally inform the employers in case the salaried account is discontinued due to non-credit of salaries. So an employer should check with the new company if he continues with the old account to save trouble.

It is not possible to close ICICI bank account online or by post. You should visit your home branch of ICICI bank. But account closure form can be download from the official website.

How to close ICICI Bank account? Step by step:

  1. At first, you need to withdraw all the balance from your bank account. You can use net banking, debit card, check or another way. By the way, it is not important to withdraw money. Bank refund all the balance after closing your account by cash, check demand draft or balance transfer to another account.
  2. Next step is to take a photocopy (xerox) of your passbook’s first page, debit card, last check from your checkbook, credit card if applicable and customer id. Because you need to submit all at the time to apply the closing application.
  3. Now visit your nearest ICICI branch where you open the account and ask for an account closure form or get it from here. Account closure form.
  4. Fill the account closure form carefully. Keep blank in “Instructions for Closure Proceeds” column if you already withdraw all the money.
  5. Submit those documents to bank manager maintain below. i. filled account closure form. ii. Self-attested photocopy of your identity proof and address proof. iii. Original passbook, un-use checkbook, and debit card.
  6. Collect the acknowledgment slip from the bank manager.
  7. You will receive a confirmation SMS on your registered mobile number within a week. Your account will close within 10 working days.
  8. If you have the balance to your bank account, the bank will refund the money within the time.

Those above steps are enough. That means I say you would follow those eight steps to close your ICICI bank account. If you face any problem contact customer care or call on 1800 102 4242 (toll-free). The banker may be calling you. I think it is enough for you to close your ICICI bank account.

Why is the important to close an unused bank account?

Now a days in India, it is very easy to open a zero balance saving account by supplying your Aadhaar card number or Pan card number. When we get a cashback offer, we create a bank account without any thinking. But do you know the maximum zero balance saving account gets automatically convert to a regular saving account in six months? Then you need to maintain the minimum balance of your account. Then the bank starts to charge for non-maintain of minimum balance. Some banks remember you via SMS or email and some of them not.

Here is the magic. Just think, suddenly if you receive a letter from the bank stating that the bank charges you a large amount. You created a zero balance saving account three years ago and you forget that. The account already converts into a regular saving account and the account has no transaction during this long period. So the bank charges this amount. What will you do then?

Always close your unused bank account. Never create many bank accounts. If you are a student then I highly recommend that you should create only one saving account of any physical bank to receive your scholarship.

The article was “how to close ICICI bank account”. I also maintain that why is important to close an unused bank account. If you have a question regarding this article then comment below. I always happy to help you.

Also read:- How to change mobile number in ICICI bank?

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