know here how to reactivate dormant bank account , when does bank account becomes dormant or inactive. It is very common that a bank account become dormant after some time. The most common reason is that when we shift from one city to another city we open a new bank account instead of transferring the bank account to bank branch at that place. An account become dormant or inactive when we don’t do any transaction for over 2 years continuously. Bank put these account in category of inoperative or dormant account. Dormant account may also impact on your CIBIL score. One more things is that you cant withdraw money from a dormant account without making in operative or reactivating.
How to reactivate dormant bank account with application
When does a bank account become dormant ?
A Saving bank account or current account becomes dormant or inoperative if there are no transactions in the account for over a period of two years.
Why bank account becomes dormant ?
As per RBI Guidelines, Segregation of dormant or inoperative accounts is from the point of view to reduce risk or fraud on such accounts.
How to reactivate bank account or remove dormancy ?
If your account has also become dormant or inactive then you should visit your home branch in which you have bank account. Write or draft an application in the name of Manager of the Bank.
In this application write your account number, Give the appropriate reason about why your bank account has become dormant or inactive.
Also write the reason of making your bank account reactivate or operative.
What documents are needed for reactivation of bank account ?
Now here we tell you that you have to provide fresh KYC proof or documents for reactivation of bankaccount.
- Application to reactivate dormant account
- Photograph of account holder
- Xerox copy of Pan Card
- Address Proof (Voter ID, Aadhar Card)
- Or any other ID proof which bank ask for.
Note : In case of joint account, consent of both the account holder is required. So application will be also signed by joint account holder also. Fresh KYC proof or documents of joint account holder /s should also be provided,
Once bank account becomes active, do transactions
When your bank account becomes operative, do some transactions in the account in form of Cash Deposit or Cash withdraw. you can also withdraw money already in that account.
What are charges for reactivation of dormant bank account ?
As per RBI Guidelines, bank can not charge its customers for reactivating the dormant bank account. Bank will have to make it operative without taking any charge.
How to save the bank account from dormancy ?
If you want that your bank account never becomes dormant, then link your saving account with fixed deposit account with monthly or quarterly interest credit in your SB account. You interest will keep credited in your saving bank account as it is treated as customer induced transaction. So your bank account will never become dormant.
Note : Interest on saving bank account is credited on regular basis whether the account is operative or note.