Suresh Madgundi alleges that HDFC Bank demanded Rs. 3000 to close his salary account despite RBI guidelines. Full complaint details published on Choice4Voice.com
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Complaint Summary : HDFC Bank Complaint – Suresh Madgundi Claims Forced Charges for Account Closure | Choice4Voice.com
| Customer Name | Suresh Madgundi |
|---|---|
| Complaint Type | Account Closure Issue / Excessive Charges |
| Company | HDFC Bank |
| Product/Service | Salary Account Closure |
| Branch | Hotgi Road Branch, Solapur |
| Issue Reported | Bank demanded Rs. 3000 to close account |
| Customer Demand | Immediate account closure without extra charges |
| Regulatory Authority Concerned | Reserve Bank of India (RBI) |
| Complaint Source | LinkedIn Post |
| Published On | Choice4Voice.com |
Detailed Complaint
Suresh Madgundi, an Assistant Manager, has raised a complaint against HDFC Bank – Hotgi Road Branch, Solapur.
According to him, he had opened a salary account with HDFC Bank 3 years ago while working in Solapur. After joining another company outside Solapur, he no longer needed the account and recently visited the branch to close it.
However, instead of processing his request, the relationship manager allegedly informed him that the account has a “hold balance” of Rs. 3000 and that this amount must be paid before the account can be closed.
Suresh argued that as per RBI rules, if a customer does not wish to continue with a bank account, the bank must allow closure without imposing such conditions. He has requested immediate closure of the account without any unjust charges and has urged both HDFC Bank and the Reserve Bank of India (RBI) to take corrective action.
Consumer Rights and RBI Guidelines on Account Closure
According to RBI guidelines, customers have the right to close their bank account at any time without being forced to maintain or pay additional amounts.
- RBI Mandate: Banks cannot deny account closure if the customer has submitted all required documents.
- Charges: While nominal account closure charges may apply in certain cases (especially if closed within 1 year of opening), demanding arbitrary hold balances is against fair banking practices.
- Customer Rights: Customers can escalate the issue to the RBI Banking Ombudsman if banks refuse closure.
What HDFC Bank Should Do
To resolve this complaint fairly, HDFC Bank should:
- Close the salary account immediately without imposing unnecessary charges.
- Provide written clarification on the alleged Rs. 3000 hold balance.
- Ensure compliance with RBI account closure guidelines.
- Train relationship managers to handle account closure requests transparently.
Choice4Voice.com Statement
At Choice4Voice.com, we highlight such cases where customers allege unfair treatment by banks. Forcing customers to pay arbitrary charges for closing a salary account not only violates RBI norms but also erodes consumer trust.
We urge HDFC Bank and the RBI to review this matter and ensure that customers like Suresh Madgundi receive a fair resolution without unnecessary financial burden.
Frequently Asked Questions (FAQs)
Q1. Can a bank refuse to close my account?
No. As per RBI rules, banks cannot refuse closure if the customer has cleared dues and submitted a request.
Q2. Are banks allowed to demand a “hold balance” for account closure?
No. Salary accounts are zero-balance accounts. Arbitrary demands are not permitted.
Q3. What is the RBI guideline for closing a bank account?
Customers can close accounts anytime. Only minimal closure charges (if applicable) may be deducted.
Q4. Can banks force customers to maintain minimum balance after salary transfer stops?
Yes, once salary credits stop, the account may be converted to a regular savings account, which requires minimum balance. However, this does not justify Rs. 3000 hold balance for closure.
Q5. What should I do if a bank refuses account closure?
Escalate to the branch manager, then to the nodal officer, and finally to the RBI Banking Ombudsman.
Q6. Do all banks charge for account closure?
No. Many banks allow free closure, especially for salary accounts. Some may charge a nominal fee if closed within a year.
Q7. Can I close my bank account online?
Some banks allow online requests, but usually customers must submit an application at the home branch.
Q8. What is a “hold balance”?
A “hold balance” refers to funds blocked due to unpaid fees, minimum balance requirements, or technical errors. It must be transparently explained to the customer.
Q9. Can RBI help in account closure disputes?
Yes. Customers can lodge complaints with the RBI Ombudsman for resolution.
Q10. What documents are required for closing a salary account?
Typically, an account closure form, ID proof, and cheque book/debit card return are required.
Q11. Why do banks impose minimum balance after salary credits stop?
Because the account converts into a regular savings account if salary is not credited for a few months.
Q12. Can banks charge Rs. 3000 for closure?
Unless justified with written policy, such charges may be considered unfair banking practice.
Q13. What is the process for escalating complaints to RBI?
File an online complaint via the RBI CMS portal or write to the Banking Ombudsman.
Q14. Can I switch salary accounts easily to another bank?
Yes. Employees can request their employer to change the salary credit bank at any time.
Q15. Is it mandatory to close old salary accounts after job change?
Not mandatory, but recommended to avoid unnecessary charges.
Q16. Can a bank charge penalty for non-usage of account?
Some banks charge for dormant accounts, but closure cannot be denied.
Q17. What is the role of a Relationship Manager?
To assist customers, not to block legitimate requests like account closure.
Q18. How can customers protect themselves from unfair bank charges?
By keeping written communication, escalating disputes, and reporting to RBI if needed.
Q19. Can Choice4Voice.com help in banking disputes?
Yes. By publishing such cases, we create public awareness and pressure banks to resolve them.
Q20. What should customers check before opening a salary account?
Always review the minimum balance policy, closure charges, and RBI rules for protection.
📌 Original Complaint Source: LinkedIn Post by Suresh Madgundi
📌 Published On: Choice4Voice.com – India’s Consumer Complaint Platform
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