What happens if HDFC salary account not closed?
The salary account is not closed by the bank automatically. When there is no salary credit in the salary or zero balance account for continuous three months, the account will be treated as savings account and individuals need to maintain required Average Quarterly Balance (AQB) as suggested by the bank.
What happens to salary account after employee resigns HDFC?
Originally Answered: Can HDFC account remain salary account even after job switch? No legal repercussions but account Will automatically convert to savings on non credit of salary u need not close the account. But will have to maintain it as savings with minimum balance.
Is there any charges for closing HDFC bank account?
According to the HDFC Bank website, for closure of savings account, the Bank customer, depending on the nature and tenure of his account, will have to pay a fee of Rs500 and if the average monthly balance falls below Rs20,000 in non-urban centres, it will charge Rs500 a month.
Does salary account close after leaving job?
While it is better to close your old salary account after a job switch, there may be situations where carrying on with your existing salary account would make more sense. Salary accounts offer higher benefits than regular savings accounts without any minimum average balance (MAB) requirements.
Can I close my HDFC account with negative balance?
ACCOUNT CLOSURE HDFC Bank, for example, doesn’t charge any fee if the customer closes the account within 14 days. If the account is closed between 15 days and six months, it charges ₹500, and ₹250 if it’s closed between six months and one year, according to its website.
What if salary is not credited in salary account?
If the salary has not been credited to your Salary Account for a certain period of time (usually three months) then the bank will convert your Salary Account into a regular Savings Account with a minimum balance requirement.
What happens if salary account not closed?
The salary account is not closed by the bank automatically. Banks can only freeze accounts if there is no transaction in the account for a particular period, i.e. three months. After that one has to pay a penalty and regularise the account.
Can HDFC account be closed online?
Note: You can’t close HDFC Bank account online, but account closure form can be downloaded online. To close your account in an easy way, ensure that you drain out all the funds parked in your account. The balance in your account should be Zero. Now you can go to the nearest branch and approach the bank executive.
Can I close my HDFC salary account with negative balance online?
To close your account in an easy way, ensure that you drain out all the funds parked in your account. The easiest way to do this is through net banking. Simply transfer all the money to some other account through NEFT, RTGS or IMPS. The balance in your account should be Zero.
What happens if bank account is not closed?
An inoperative bank account entails a penalty, which depends on the concerned bank’s policy. The penalty holds true only during the period when the account is non-operational. This charge is levied on an annually and isn’t a lot. Also, customers are penalized if the minimum account balance is not maintained.
Why my HDFC salary account balance is negative?
Savings accounts usually go into negative balances when the customer changes his job and his ‘salary account’ ceases to receive funds. Since there is no regular salary flowing in, The bank begins to debit a penalty for non-maintenance of minimum balance, which often results in the balance turning negative.
Is HDFC good for salary account?
HDFC Bank Salary Accounts come with a number of benefits that make it one of the most preferred banks to do business with. It not only provides all common benefits, but also ensures enhanced banking experience for all Salary Account holders.