Table of Contents
- 1 How can I activate my inoperative account in SBI?
- 2 What happens if SBI account is inoperative?
- 3 How can I activate an SBI inoperative savings bank account without visiting the home branch?
- 4 How do I reactivate my bank account?
- 5 Can I deposit money in inoperative account?
- 6 How do I activate my inoperative account?
- 7 How can I activate an in operative savings account through SBI online?
- 8 How do I activate a dormant SBI account online?
How can I activate my inoperative account in SBI?
-Write an application to the bank: If you find out that your bank account has been inactive, then send a letter to your SBI bank manager requesting revalidation of the unserviceable account. You must also mention the reason as to why your bank account was dormant if the time period has exceeded two years.
What happens if SBI account is inoperative?
Once a bank account becomes inoperative, the account holder cannot transact using the account. If a bank account is not used, and no valid transaction of receipt or withdrawal of money has been made for one year, the bank will get in touch with the account holder.
How can I activate an SBI inoperative savings bank account without visiting the home branch?
You will have to write an application to make your dormant account active. Application should be addressed to the branch manager. You should request for the activation of the account and state the reason of not transacting since two years. Application should be signed by all the joint account holder.
How many days bank accounts are treated as closed inoperative?
If you SB or current account hasn’t witnessed any transactions(credit/debit except interest credited the bank, deduction of service charges, for more than 1 year, the account is rendered inactive. On exceeding 2 years, the account is declared dormant/inoperative.
Can we deposit cash in inoperative account?
Reactivating dormant accounts Dormant bank accounts can be reactivated easily. To reactivate your account, you will need to make a transaction by any of the following methods: Transactions through a cheque. Cash or cheque deposits into your account.
How do I reactivate my bank account?
How to Reactivate your account?
- Submit a written Reactivation Application. You will have to file a written application to reactive your dormant account.
- Submit KYC documents. You will have to submit your KYC documents alongside your reactivation application.
- Make a small deposit.
Can I deposit money in inoperative account?
Your money can be recovered. As per RBI guidelines, a savings or current account becomes ‘inoperative’ without transactions for two years. If inoperative for 10 years, the account’s balance and interest are transferred to the Depositors’ Education and Awareness Fund, which was launched by the RBI in 2014.
How do I activate my inoperative account?
Procedure to make your dormant SBI account active You need to submit fresh KYC documents to re-start the inoperative account. After the bank has performed thorough research, the account can become operative.
How to re-start an inoperative SBI account after due diligence?
To re-start the inoperative account, you need to submit fresh KYC documents. The account may become operational after the bank completed the due diligence. SBI says, “Operations in the Inoperative Account may be allowed after due diligence as per risk category of the customer.
How to know if your SBI account is active or inactive?
If you have been operating a current or savings bank account in SBI and you have not made any transactions through it for more than 12 months, you account will be considered as an inactive account. However, if you don’t make any transactions from your SBI account for more than 24 months, then the bank will consider it as a dormant account.
How can I activate an in operative savings account through SBI online?
NO! for these you need to visit the Bank as per the rules you cannot activate an in operative savings account through SBI Online. Please visit your home branch and give a requesting letter with attached KYC Documents and sign on it and get verified. you can mention why the account has been inactive.
How do I activate a dormant SBI account online?
Activating dormant account online is not possible .you need to go to the base branch where you are having account and submit a letter mentioning what do you want along with penality ,Id and address proofs may be required . How many days does it take to activate the inoperative account of SBI?