Hello Friends,
Pls support with your views related to the subject above.
My straight forward question is, can a bank charge payment charges on a cash credit account after the expiry of a valid sanction letter, or the tenure of generally say 12 months from the date of sanction, as the case may be.....
thanks
Menu
Banks charging Pre payment charges for Cash Credit accounts of SMEs
Replies (4)
If the credit facility expired, or not extended, then they should not charge...
Thanks for your reply Sir....
But any guideline/notification which clearly states this that they should not charge....
It will be helpful...
There is no such guideline/notification. Banks have their own working instructions.
Check your original loan appraisal letter for any such charges. If no specific clause of any such charging, then in that case you can complain it to Bank's Ombudsman.
Sir, the clause exists, but point is whether they can levy prepayment after expiry of credit facility.....
this needs to be still answered..... in legal terms, is this justified...?
I such thing levied, what's the procudue to sort...
this needs to be still answered..... in legal terms, is this justified...?
I such thing levied, what's the procudue to sort...
Recent Topic
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
Related Topics
CAclubindia
