Can I close my HDFC savings account without penalty

[samkapoor77]

Last month, I opened HDFC MF. RM suggested me to open savings account with HDFC. I did the same. Later, I came to know that it is possible to open MF account with my existing bank account. I want to close my savings account. RM said that if I close it within 6 months, then I will have to pay a penalty of Rs. 750. Is there any way of avoid the penalty?

[samkapoor77]

You will have to pay a penalty. Ask manager to give it in writing. If you have sufficient proofs of wrong information, then you can sue them.

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