Bank Account / In how many days will the account be closed if the transaction is not done from the bank account, what is the rule of RBI - know

Bank Account: Today's people use many bank accounts. It is seen that with time people stop using some bank accounts. In such a situation, the question arises that if a person is not using his bank account for a long time, then in how many days will it get closed?

In how many days does the bank account get closed if the transaction is not done?

If you have an account in any bank and for some reason you are not doing transactions for more than two years, then your account is simply deactivated by the bank. After the account is deactivated, you will not be able to do any kind of transaction from your bank account. If any amount is deposited in the inactive account, it will remain as it is and with time the bank will continue to pay regular interest on it.

How to regularize inactive account?

Any inactive account can be easily converted into a regular account. For this you will have to go to the bank and get KY done and for this important documents like PAN, Aadhaar will be required. If you have a joint account then both the account holders will have to submit KYC documents.

How much is the charge?

There is no charge of any kind for regularizing a dormant account. According to RBI rules, even if you do not maintain the minimum balance in an inactive account, no penalty can be imposed on you by the bank.