Introduction:

Axis Bank, recognized as one of India's leading private banks, frequently sees its customers opening zero balance salary accounts with them. These accounts offer the benefit of fund withdrawal without maintaining a minimum balance. However, upon leaving a job, this benefit may become problematic.

If a salary isn't credited for three consecutive months, the account transitions into a standard savings account with a mandatory minimum balance requirement. For urban branches, this requirement is Rs 10,000. Failure to maintain this invites penalties, incurring monthly deductions from the account.

To sidestep these fees, maintaining the stipulated minimum balance is one option. If not feasible, it's vital to promptly close your Axis Bank account. This guide outlines the steps for closing savings and current accounts with Axis Bank.

Start by ensuring the account balance is zero if any funds are present. Withdraw via ATM or transfer to another bank account through the NEFT service.

Once the balance is zero, visit the branch to obtain an account closure form. Bring along your passbook, debit card, checkbook, and valid ID proof. It's advisable to keep photocopies of these documents for future reference.

Alternatively, the account closure form is downloadable online for a smoother branch visit. Access the PDF closure form online and print it at your convenience.

After completing the form, submit it to a bank executive with the necessary documents. Usually, the bank returns your passbook for personal records. You'll receive an acknowledgment slip confirming the closure.

The closure process typically concludes in about 10 working days, with a confirmation message sent to the account holder. For inquiries or assistance, reach Axis Bank customer care toll-free at 1860 419 5555.

Note that closing an Axis Bank account online is currently unavailable, though downloading the closure form online can expedite the procedure.

Also Read: Guide on Closing a Kotak Mahindra Bank Account Online.