Foreclosure charges
This query is : Resolved
Armaan Jain
(Querist)
21 September 2017
I am holding cash credit limit with HDFC bank and I want to transfer my limit to ICICI bank.
But HDFC is telling if you transfer the limit you have to pay forclosure charges @ 5%
I want to know is bank are liable to charge foreclosure charges, is there any Rbi notification regarding this
But HDFC is telling if you transfer the limit you have to pay forclosure charges @ 5%
I want to know is bank are liable to charge foreclosure charges, is there any Rbi notification regarding this
K Srinivas, CMA CS
(Expert)
21 September 2017
It depends on Bank to charge or not to charge. RBI doesn't have any say over this.
K Srinivas, CMA CS
(Expert)
21 September 2017
Refer your sanction letter issued by HDFC Bank for information about preclosure charges
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