Bank asking forecloser charges

Jay Shah (Querist) 01 September 2020 This query is : Resolved
We were enjoying cash credit limit from axis bank since 2017 and now on 15 august 2020 it was due for renewal but now we don't want to renew the limit and close the limit , we have already paid all the dues . We have ask bank for closer of limit in reply they are asking for foreclosure charges I want to know can they ask for any charges as at time of renewal we asking closer and not in between of the limit and we paid all payment by own fund and there is no take over of limit And bank is not giving proper reply and keep on delaying So what should I do and are they liable for any foreclosure charged Please guide me

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Quick Summary

A customer is questioning Axis Bank's demand for foreclosure charges on a cash credit limit that was due for renewal. Having paid all dues and opting not to renew, they believe charges are unwarranted, especially as there was no early closure or balance transfer. The bank's delayed and unclear responses have prompted a search for guidance on whether these charges are applicable.

Dr J C Vashista (Expert) 02 September 2020
Commercial query.
Seek professional services of a local lawyer, which you can afford,

Rajendra K Goyal (Expert) 02 September 2020
Repeated query;
https://www.lawyersclubindia.com/experts/bank-asking-forecloser-charges--721801.asp

https://www.lawyersclubindia.com/experts/bank-asking-forecloser-charges--721806.asp

https://www.lawyersclubindia.com/experts/bank-asking-forecloser-charges--721796.asp

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