1. #1
    Unregistered

    Is it necessary to close a savings account opened by the company after leaving the company?

    My Company doesn’t give any of the employees the privilege of current account with no minimum limit but gives a savings account in which a specific amount is maintained. Is it a compulsion as in the case of current account that after leaving the company we have to close the savings account too?

  2. #2
    bonomali Array
    Join Date
    Feb 2013
    Posts
    984

    Re: Is it necessary to close a savings account opened by the company after leaving the company?

    Hello,

    For the sake of your integrity and honesty you should close the savings
    account as soon as possible. You have left your organization so it is much
    wiser for you to leave everything from previous organization. Don't waste
    time and close the account immediately as this will give you satisfaction.

    Bye,

  3. #3
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: Is it necessary to close a savings account opened by the company after leaving the company?

    Quote Originally Posted by Unregistered View Post
    My Company doesn’t give any of the employees the privilege of current account with no minimum limit but gives a savings account in which a specific amount is maintained. Is it a compulsion as in the case of current account that after leaving the company we have to close the savings account too?
    Dear Aspirant,

    The educated & eligible candidates get job in companies in order to work well for sake of themselves first & then for the companies.So in order to facilitate the payment to the employees,the companies arrange to open the saving accounts to their employees.In general current account is opened for a business man or for for a institution/organisation/office with a view for heavy transaction.There is no interest paid on the amount in the current account.But for all the employees whether in govt. or in pvt.,saving accounts are opened,because there is a provision to pay interest on the amount remaining in saving account.So there is no any interest of the companies to get opened saving accounts for their employees.

    Since the saving accounts are opened in the name of the employees for their use,the concerned company has no right with respect to its operation.It is up to the concerned employees/account holder whether to close or get it transferred to new place.

    So need not have any confusion for opening & operation of account.

    Thanks & good luck.

  4. #4
    Raju22711 Array
    Join Date
    Dec 2012
    Posts
    48

    Re: Is it necessary to close a savings account opened by the company after leaving the company?

    If the saving account is opened in any Nationalized bank of India and is on your name then it is not neccessary to close or quit the saving account.

    But if you do not have any use of that account then you should quit that account.

    But if you have any need of saving account then you can continue that one.

    So it is not compulsory to close that account even if you have quit from your company.

  5. #5
    john215 Array
    Join Date
    Jan 2013
    Posts
    796

    Re: Is it necessary to close a savings account opened by the company after leaving the company?

    Re: It is necessary to close a savings account opened by the company after leaving the company?

    Hi friend,

    I think this is the wrong way
    For the sake of your integrity and honesty you should close the savings account as soon as possible.
    You have left your organization so it is much
    wiser for you to leave everything from previous organization.
    Don't waste
    time and close the account immediately as this will give you satisfaction.

    Thanks!!!
    ALL THE BEST.............

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