Overdue interest
This query is : Resolved
Arindam Banerjee
(Querist)
12 March 2014
penal or overdue interest in bank
13 March 2014
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Can u please give some details about your Query.....
Can u please give some details about your Query.....
13 March 2014
Is this in regards to the penal Interest charged by the bank
13 March 2014
Penal Interest is Charged by the bank in addition to the regular monthly interest
13 March 2014
Penal Interest is the amount of interest taht is charged by the bank on the excess amount overdrawn by the account holder
13 March 2014
i.e.
if your Limit is 20 Cr. n you have withdrawn more than this limit, the penal interest is charged on the excess withdrawn amount
if your Limit is 20 Cr. n you have withdrawn more than this limit, the penal interest is charged on the excess withdrawn amount
13 March 2014
Penal Interest is generally 2% more than the regular Rate of Interest charged by the bank
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