SBI Alert: If you want to reactivate your closed large account, then you are required to get KYC updation done and for this you will also have to contact the bank.
State Bank of India provides many facilities to its customers and now most of the banking work is being completed through online medium only. But, along with this, there are many rules of the bank, which the customers have to follow. If not, the bank deactivates the account, after which the bank is not able to do any transaction from the account. For example, if you do not do any transaction from the bank account for a certain time, then the bank closes that account. After this, after following a process, it has to be activated again.
In such a situation, today we are telling you when your account is closed and once the account is inactive, how to get it started again. If you do not follow this process, then you will not be able to do any transaction from your account. Know about these special rules of SBI, which every account holder needs to pay attention to…
When does the account become inactive?
As per RBI guidelines, if no transaction is done in a savings or current account for two years, then it is put in the category of ‘inoperative’ account. If this remains for 10 years, ie, suppose no transaction is done in the inoperative account for 10 years, then the money deposited in it and its interest is transferred to the Education and Awareness Fund. However, before doing so, the bank also informs the customer about it.
We regret the inconvenience caused to you. Please note that to make the account operative again, you need to complete KYC Updation and make a debit transaction at the branch. Hence, we request you to visit the branch with KYC Documents or you may also contact branch (1/2)
— State Bank of India (@TheOfficialSBI) September 2, 2021
How to activate account?
According to the information shared by SBI, in order to make the account operative again, you will have to get KYC updation done i.e. submit all your KYC documents to the bank. Apart from this, the customer will also have to go to the bank and do a debit transaction. Keep in mind that this transaction must be done through the bank only. Therefore, it is requested from the bank to visit the bank branch with the KYC document and you can also contact the bank branch.
What is advice?
In such a situation, you should keep in mind how many accounts you have and keep doing some transactions in them regularly. At the same time, if an account is not working for you at all, then go to the bank and close it and definitely keep the information of the nominee updated in the bank account.
