How to Close Bank of Baroda Account Online in Just 5 Minutes

Bank of Baroda, an Indian state-owned multinational banking company, is the second largest public sector bank in the country. It caters to a variety of financial needs of 153 million account holders across the globe. Some of the customers among them, despite its popularity, have to close their accounts due to various reasons including a buildup of overdraft fees, fees for negative balances, and more. 

In this blog, we will walk you through a comprehensive guide on how to close a Bank of Baroda account online while highlighting all the associated details. 

How to Close a Bank of Baroda Account Online in 2024

Bank of Baroda does not allow a complete online process of closing accounts. You can follow these steps to properly understand how one can close a Bank of Baroda account online: 

• Step 1: Navigate to the ‘Bank of Baroda Account Closing Form’ online. 
• Step 2: Download and print the PDF form. 
• Step 3: Fill out the form with accurate details including the account holder’s name, cell phone number, account number, and so on. 
• Step 4: Sign the Bank of Baroda account closure form and attach KYC documents, including identity and address proof. 
• Step 5: Submit the signed application form at your nearest Bank of Baroda branch.
• Step 6: Along with the form and documents you also need to provide your passbook, debit card, chequebook, and all unused cheques. 

After this submission, the banker will start to process your request to close the bank account. Following this, the banker may request you to withdraw the funds left in that account. Upon successful closure, the bank will notify you via SMS or email. 

How to Close Bank of Baroda Account Offline?

If you want to close a Bank of Baroda account offline, you can follow these steps: 

• Step 1: Visit your nearest Bank of Baroda branch and ask for an account closure form. 
• Step 2: Fill the form with relevant details and attach the required KYC documents. 
• Step 3: Submit the Bank of Baroda account closure application to the officer in charge, or the bank manager. 
• Step 4: Submit your chequebook, unused cheques, debit card, and passbook along with the form. 
• After their verification is done, they will close your account and notify you via your registered email or SMS. 

Documents Required to Close Bank of Baroda Account in 2024

These are the only documents you will need to close a Bank of Baroda account online:

• PAN card
• Aadhar card 

Self-attested copies of these documents will serve the purpose of address and identity proof. If you are closing a joint account, these documents need to be signed by both account holders. 

Bank of Baroda Account Closing Charges

Take a look at the table to see if you have to pay to close a Bank of Baroda account: 

Closing Bank of Baroda Account Online with Negative Balance

If you have a negative balance in your bank account and you want to close it, you have to keep the following consequences in mind: 

• Bank of Baroda can charge you for each debit card payment, ATM withdrawal, or overdraft that causes a negative balance.
• Over time, these fees can accumulate and become a significant amount.
• Failure to correct a negative balance promptly can result in additional fees. 
• If your bank account is negative and you would like to close it, the bank might refuse until you pay the due amount.
• Banks will eventually close a negative account if you overdraw it frequently or let it remain negative for an extended period.
• When the bank closes your account, it can inform a checking account reporting company that will keep records of your banking history for up to 7 years.
• When you put in an application for a new account, banks will consider your bank account history.
• Involuntary closures on your bank account history may lead to banks refusing your new account opening request. 
• Alternatively, banks might offer you a second chance account with high fees and restrictions, such as limits on deposits and withdrawals.
• If your account is closed due to too many overdrafts, your bank could transfer your financial obligations to a collection company.
• The collection company may report to credit bureaus on your unpaid balance potentially lowering your credit scores and impacting future credit approvals.

Keeping all this in mind you should avoid creating negative balance accounts. However, if you already have a negative balance account you should pay the due amount before closing it. 

Bank of Baroda Account Closing Form PDF

To close a Bank of Baroda account online, you have to download the account closure form, fill it with the accurate information, sign it and submit it by visiting the bank with KYC documents. You can search for the Bank of Baroda account closing form PDF online or download it from this link. 

Bank of Baroda Customer Care for Account Closure Assistance

If you have any more queries on the account closure procedure, Bank of Baroda has a responsive customer care team you can contact. Here are the contact details: 

Final Word

To close a Bank of Baroda account online, first, it is necessary to clear all pending transactions and transfer the remaining funds to another account. Following this, you need to visit the bank branch in person with valid identification and a filled-up form for closure. By following the steps outlined in this guide, you can avoid any potential issues and ensure a hassle-free account closure. 

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.