How to Close Axis Bank Account – Deactivate Axis Account
Do you want to Deactivate your Axis Account or terminate your axis account online? This post will show you how to terminate your Axis Bank Online account in many different methods.
One of India’s top private banks, Axis Bank, is the country’s third-biggest and most successful. Axis Bank is the bank of choice for most organizations when opening payroll accounts for their workers. Axis bank’s app is superior to its rivals because of the many advantages it provides to customers. Personalized management, exceptional client service, and no minimum balance requirement are some of the other perks. However, if, for any reason, your pay stops arriving in your account, you will not be eligible for these fantastic benefits from Axis bank. As a result, the majority of customers plan to terminate their accounts. When looking to shut an Axis Bank account online, your quest will stop here since we have all the information you need.
What is the procedure for closing an Axis Bank account over the online platform?
To open a standard Axis Bank savings account, you must have a minimum balance of Rs 5000 in your account, which may be problematic for certain people depending on their financial situation. To make matters worse, Axis bank charges fees if you fall short of keeping the necessary amount. However, you may avoid these fees by keeping a sufficient balance in your Axis bank account or by closing your account altogether.
To make closing your Axis bank salary/savings/current account as simple as possible, we’ve written this post.
Method to close an Axis Bank online account.
There is no method to shut an axis bank account online if you want to do it without going to the bank. To shut your axis bank account, you will need to visit a branch and complete the closure form in person, but you can download the termination form online and submit it by going to the branch.
Before closing your Axis Bank account, do the following preparations:
Withdraw or Transfer Your Account’s Balance
Transfer all of your money from your Axis bank account to the other bank account before closing it. To add money to your Paytm wallet, you may use any of the following methods: UPI, NEFT, RTGS, IMPS, or your Debit card. After that, you have the option of withdrawing the remaining funds and transferring them to other banks.
Read Article: How to register for Axis Bank Internet Banking Online
Online Deactivation of An Axis Account: Steps to Take
- To begin, take out all of your remaining funds from your account. Then, to close your Axis Bank account, use the Account Closure Form once you’ve withdrawn your funds. If you prefer, you may stop by the bank and get an account closing form.
- Receive the form and complete it with the requested information.
- The third thing you should visit is your local bank branch with your original bank card, debit book, checkbook, and ID evidence.
- Once you’ve completed the form, submit it to the bank and bring your Passbook, Debit card, and Chequebook to the attention of the bank representative. The bank will usually return your Passbook, but you should save it for future reference. Also, keep a copy of these papers in case you need it again.
- A reference sheet for closing your bank account may be given to you by the bank executive.
- In the next ten working days, your axis bank account will be closed, and you will be notified via SMS and email.
- You may contact the branch manager or customer service at 1860 419 5555 if it takes more than ten days to terminate your account.
Method of Closing Axis Bank Payroll Account
If your payment has not been deposited into the bank for three months, Axis Bank will turn your salary account into a regular savings account. As a result, closing an axis bank salary account follows the same steps as closing any other kind of account. First, close your axis bank account by going to your local bank and notifying the RM.
How to Close Axis Bank Account Quickly?
Even though ASAP accounts may be started online, you must visit an Axis Bank location in-person to complete an application for an Axis ASAP account.
Axis Bank Demat Account Closure Process
To close an Axis Bank Demat account, you’ll need to download the axis bank account closure form and visit your local branch, just as you would for any other axis bank account. It’s also important to remember that you must pay off any outstanding debt while closing your Axis bank Demat account.
How can I close my Axis Bank account if I have a negative balance?
To shut your axis bank account, even if it is depleted of funds, visit a branch. The bank management can ask you to settle the negative balance. Then, you have to explain that you can’t settle these negative funds, and they will close your account.
FAQS Section
Close axis bank account, is there any fee?
There is no fee if you terminate your account within 14 days of opening it or within a year after it has been opened with Axis Bank. However, if you terminate your account between 14 days and one year after opening it, you will be charged a minimum of 500 INR. This sum, however, may change based on the kind of Axis Bank account you own.
Is it possible to terminate an Axis Bank account with a negative balance?
If you can’t keep your account balanced, Axis bank imposes a fee. The Axis bank account with a negative balance cannot be closed in any manner. To end your account, you must first pay the whole amount due. To avoid having your negative balance grow each month due to not keeping the minimum needed balance, we recommend paying down the remaining sum as soon as possible before closing your account.
Where can I obtain an Axis Bank Closure Form?
If you want to close your account, you’ll need to fill out the account closing form. This account closing form is available at the branch, or you may download it, fill it out, and take a print of it with you to close your Axis Bank account. There is no need to fill it out at the bank, which saves you time.
Can I close the axis bank account through the application?
With the help of the application, it’s possible to do basic banking functions such as fund transfers, bill payments, opening FDs and RDs, applying for credit cards and loans, downloading statements, and so on, but you cannot close your account.
Final Words:
Axis bank is popular in India, and many companies ask their employees to open their accounts in axis bank. However, if someone’s salary is not being credited into an account, it should be closed; otherwise, the user has to pay bank charges. In this post, we explained the simple approaches and crucial concerns of people regarding axis bank.
