Impact of Savings bank account on Credit Report and Score ?

POSTED BY harishj ON December 3, 2013 6:07 pm COMMENTS (2)

I am having an account in a private bank which was my salary account earlier. When I changed my company, the account was no longer a salary account but the bank didn’t charge any fine for not maintaining the minimum balance (min balance for salary account was zero). So, now my account balance is zero but when I visit bank to close the account, they say they will charge Rs. 250 per month since my salary stopped getting credited. This will run into good thousands of rupees.

My question is if I don’t pay this amount and keep my account open, does it affect my credit quality score (my credit quality score is good otherwise with no late payments, no cheque bounce, no default).

What if I just send an application to bank branch asking them to close my account and preserve the speed post consignment no for my reference?

Or do I need to necessarily pay that fine the bank is asking?

2 replies on this article “Impact of Savings bank account on Credit Report and Score ?”

  1. ashalanshu says:

    Dear Harishj, once bank owes you some money and you do not pay, your name ‘ll go into CIBIL as defaulter. Rest you know already. My personal take – talk to bank, prove that no initmation was there from bank and after that close the matter with a reduced negotiated penalty.



  2. Anand says:

    The bank needs to send you a letter before converting the account from zero-balance to normal account. If the bank has not sent anything, do not pay single paisa to the bank. This will not affect your credit score, as you have not taken a loan from the bank. Ask them the proof of the letter that bank is supposed to send you.

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