How To Close Equitas Bank Account online in 1 Min.

how to close equitas bank account

Introduction to How To Close Equitas Bank Account – Deciding to close your Equitas Bank account can be prompted by various reasons, and navigating the closure process effectively is crucial. Whether you are transitioning to another financial institution, consolidating your finances, or simply no longer require the account, this comprehensive guide will walk you through the closure process, covering all available options.

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Table of Content for How To Close Equitas Bank Account

Overview of How To Close Equitas Bank Account

how to close equitas bank account
Account TypeClosure MethodKey Steps
Savings AccountOnline Closure1. Log in to Net Banking
2. Navigate to “Account Management”
3. Select “Account Closure”
4. Fill in online form
5. Submit the request and await confirmation
Savings AccountOffline Closure1. Download Closure Form
2. Fill in details
3. Attach the required documents
4. Submit to the home branch or any Equitas branch
Current AccountBranch Submission1. Write a request
2. Submit an at branch with outstanding balances cleared
Loan AccountLoan Department1. Contact Equitas loan department
2. Settle outstanding amount and charges

Understanding Account Types and Closure Options

Equitas Bank offers different types of accounts, including Savings Accounts (such as My Savings, Eva, Wings, and Selfe) and Current Accounts. Additionally, if you have a loan account with Equitas Bank, closing it involves settling outstanding amounts and contacting the loan department for specific instructions.

Here’s a breakdown of closure options for each account type:

  1. Savings Account Closure:
    • Online Closure: Utilize the Equitas Net Banking portal. Log in, navigate to “Account Management,” select “Account Closure,” choose your account, review terms, fill in an online form with closure details, and submit the request.
    • Offline Closure: Download the Account Closure Form from the Equitas website or obtain it from any branch. Fill in accurate details, sign the form, attach necessary documents, and submit it to the home branch or any Equitas branch.
  2. Current Account Closure:
    • Requires a written request submitted at the branch. Ensure outstanding balances and dues are cleared before initiating the closure process.
  3. Loan Account Closure:
    • Settle the outstanding loan amount and associated charges. Contact the Equitas loan department for specific closure instructions.

Pre-Closure Preparations

Before initiating the closure process, take the following steps to ensure a smooth experience:

  • Clear your account balance to settle any outstanding balances or negative charges.
  • Halt active services such as linked debit cards, standing orders, or automatic payments.
  • Gather necessary documents, including the account closure form, photo ID, and any other relevant documents.

How to Close your Equitas Bank Savings Account Online

Closing your Equitas Bank Savings Account online is a straightforward process that offers convenience and efficiency. Follow these step-by-step instructions to initiate the online closure:

  1. Log in to Net Banking: Access Equitas Net Banking using your credentials. If you don’t have an account, you must register for Net Banking first.
  2. Navigate to “Account Management”: Once logged in, find the “Account Management” section. This is typically located on the main dashboard or in the menu.
  3. Select “Account Closure”: Within the “Account Management” section, locate and click on the option for “Account Closure.” This will direct you to the closure portal.
  4. Choose Your Account: Identify and select the specific Savings Account you intend to close from the list of your linked accounts.
  5. Review Closure Terms and Conditions: Before proceeding, carefully review the terms and conditions associated with closing your account online. Ensure you understand the implications and requirements.
  6. Fill in the Online Form: Complete the online closure form with accurate details. Provide information such as the reason for closure and, if applicable, select your preferred mode of balance transfer.
  7. Submit the Request and Await Confirmation: After filling in the required information, submit the closure request. You will receive confirmation through email or SMS once your request is processed.

By following these steps, you can efficiently close your Equitas Bank Savings Account online, saving you time and streamlining the account closure process.

How to Close your Equitas Bank account offline

Closing your Equitas Bank account offline involves a few simple steps. Follow this step-by-step guide for a smooth closure process:

  1. Download the Account Closure Form: Visit the Equitas Bank website and download the Account Closure Form, or obtain a physical copy from any Equitas branch.
  2. Complete the Form: Fill in the form with precise and accurate details. Clearly state the reason for the closure to facilitate the processing of your request.
  3. Sign the Form: Sign the completed form, ensuring that all account holders, if joint, affix their signatures. This step is crucial for the verification process.
  4. Attach Required Documents: Collect photocopies of your photo ID and any other documents specified by Equitas Bank. Attach these documents to the filled-out closure form.
  5. Submission to the Branch: Submit the completed form along with the required documents to your home branch or any nearby Equitas branch. Ensure that the submission is made during the bank’s working hours for prompt processing.

By adhering to these steps, you can efficiently close your Equitas Bank account offline, ensuring that all necessary documentation is provided for a hassle-free closure experience.

Post-Closure Steps

After initiating the closure process, take the following steps to ensure a seamless transition:

  • Receive closure confirmation via email or SMS from Equitas.
  • If you opted for a balance transfer, ensure the funds are credited to your designated account within the specified timeframe.
  • Monitor your account statement for a few months to ensure no unexpected charges are levied.
  • Safely dispose of your debit card, checkbook, and any other account-related materials.

Additional Considerations

  • Some accounts, like Selfe Savings, may have minimum balance requirements for online closure.
  • Transactions pending at the time of closure will be processed, and the final balance will be adjusted accordingly.
  • If you have unclaimed funds in your account, Equitas will follow RBI guidelines to safeguard them. Contact the bank later to claim them.
  • For any queries or clarifications, contact Equitas customer care at 1800-103-1222 or visit your branch.

Remember, this guide is accurate as of December 15, 2023. For the latest updates on account closure procedures and policy changes, refer to the Equitas Bank website or contact customer care. Closing your Equitas Bank account should be a straightforward process with proper planning and execution.

FAQs: How To Close Equitas Bank Account

Can I Close My Equitas Bank Account Online?

Yes, you can close your Equitas Bank Savings Account online. Log in to your Net Banking, navigate to “Account Management,” select “Account Closure,” and follow the provided steps. However, certain accounts may have specific requirements, so check for any restrictions based on your account type.

How Long Does it Take to Close an Equitas Bank Account?

The closure process timeline may vary, but Equitas Bank typically processes account closure requests promptly. You should receive a confirmation email or SMS once your request is processed. The time taken for balance transfers, if applicable, depends on the chosen transfer method.

Can I Close My Account if I Have an Outstanding Loan with Equitas Bank?

Yes, you can close your account even if you have an outstanding loan. However, you must settle the outstanding loan amount along with any associated charges. Contact Equitas Bank’s loan department for specific instructions on closing a loan account.

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