Punjab & Sind Bank · statement narration
ACCT CLOSURE CHG
Also printed as: CLOSURE CHARGES · AC CLOSE CHG · ACCOUNT CLOSING CHARGES · PREMATURE CLOSURE CHG
Decoded
A fee for closing your account within a defined period after opening it.
Hinglish meinAccount khulne ke kuch samay ke andar band karne par lagne wala charge.
- Closed within 14 days of account opening
Closed within 14 days of account opening, Bank’s own figure
From Punjab & Sind Bank — Account Closure Charges
Verified
- Bank’s own figure
- Closed after 14 days but within 12 months
Closed after 14 days but within 12 months, ₹500 + 18% GST
From Punjab & Sind Bank — Account Closure Charges
Verified
- ₹500 + 18% GST
ACCT CLOSURE CHG on your Punjab & Sind Bank statement — A fee for closing your account within a defined period after opening it. The bank publishes a rate table, not one figure; the rates are below.
Read from Punjab & Sind Bank — Account Closure Charges on 2026-08-15.
Account closure charge: what other banks publish
Bank’s own figures, before GST. Where a bank publishes several rates, the bar runs from its lowest to its highest — its table below says which applies to whom. Tap a figure for its source.
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What it costs, including GST1 rule · rate table, conditions and waiver
Savings Accounts — Service Charges · Other
Savings account closure timing
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Closed within 14 days of account opening | ₹0 | — |
| Closed after 14 days but within 12 months | ₹500 | ₹590 |
| Closed after 12 months | ₹0 | — |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Savings Bank account. Free within 14 days; Rs500 after 14 days but within 12 months; free after 12 months. Exemptions include closure due to death, BSBD accounts, loan accounts and specified Government PFMS accounts.
Why it happened and how to avoid it
Why it happened
The account was closed inside the chargeable window after the first transaction.
How to avoid it
Close within the initial free window (commonly 14 days), or wait until the account is over a year old. No charge applies where the account is closed due to the holder's death.
Dispute this chargeRBI dispute template, ready to copy
Official source1 document
- Punjab & Sind Bank — Account Closure Charges
Retrieved 2026-08-15
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