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Cash credit facility foreclosing charges

This query is : Resolved 
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(Querist)
24 October 2018
Dear Sir

We are holding our CC Acc with HDFC bank, Jalgaon branch . We have fully paid our loan(Cash Credit Amount) since 04th Oct 2018 & following up with concerned relationship manager for NOC & property documents but we have been informed orally that we have to pay 4% towards foreclosing charges approx 2 Lacs(4%of 50lacs).

Please note that we is Small Scale Unit(SSI) as per our knowledge their is no charges for loan foreclosure for SSI unit. So please provide more clarity on the same.

Thanks & Regards,
Amit Sikhwal
9420386611
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Rajnish Singh

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Rajnish Singh (Expert)
09 November 2018 amit you are right but read your cc approval letter . bank has clearly mentioned such type of the terms on sanctioned letter.

if not written on sanctioned letter ,you can negotiate with bank.
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