Cash credit account rules

Praveen (Business) (21 Points)

08 October 2021  

Hi .. I am holding CC account in City Union Bank for a limit of 60L.. due to high rate and help from bank (not ready to reduce the rates as offered by other banks) I am planning to move to another bank.. 

When I approached bank with this plan they informed me that I wil be charged 2% for closure or takeover my account. Which is a shocker for me ...

Can you please clarify below

My plan is to do a take over to another bank but considering the takeover change I am looking for alternate option like below I need to pay 2% charges even if I close my account by paying the utilised amount ?

2. If I plan to close my account exactly during my renewal can I avoid those charges and simply close them ?