Bank of Baroda · statement narration
ACCT CLOSURE CHG
A fee for closing your account within a defined period after opening it.
In plain English
A fee for closing your account within a defined period after opening it.
Also printed as CLOSURE CHARGES, AC CLOSE CHG, ACCOUNT CLOSING CHARGES, PREMATURE CLOSURE CHG.
Hinglish mein
Account khulne ke kuch samay ke andar band karne par lagne wala charge.
What it costs, including GST
Savings Accounts — Service Charge Portfolio · Branch
Bank of Baroda account closure fee structure: Nil within 14 days; Rs300 (+ GST) between 15 days and 1 year (Rs1,000 for Platinum); Nil beyond 1 year or on death of holder.
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Within 14 days of opening · All Savings Accounts | ₹0 | — |
| 15 days up to 1 year · Regular Savings | ₹300 | ₹354 |
| 15 days up to 1 year · Platinum Savings | ₹1,000 | ₹1,180 |
| Beyond 1 year · All Savings Accounts | ₹0 | — |
| Closure due to death of holder · All Savings Accounts | ₹0 | — |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Applies to Bank of Baroda Savings Bank Account schemes.
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.