Querist :
Anonymous
(Querist) 08 April 2010
This query is : Resolved
Dear sir
I have availed loan of 50 Cr From a Private bank in 2006. Out of that 23 cr . we have paid. & balance was 27 cr in March 10.
To save interest & additional finance we have approach to Nationalise bank.
At time of repayment Bank charge us 2 Cr (TWO corer) pre closing charges. After our long request finaly they charge us 1 cr. We have paid the amount of 27 + 1 =28 cr. & get cleared our property. Now Nationalised bank is charging us interest rate 12% & private bank was charging us 14.75% interest, & lot of unknown computerized penalties wort of 1% .
IS RBI, HAVING ANY REGULATION FOR TERM LOAN PRE CLOSING ACCOUNTS?
Raj Kumar Makkad
(Expert) 08 April 2010
Private banks have been provided certain independence and according to your executed agreement that bank has charged such huge amount from you. You can make a representation to RBI and can even obtain information qua relevant rule from RBI and concerned private bank allowing them to charge pre-closing charge to the tune of Rs. 1 crore. However, there are little chances of your success.
Parthasarathi Loganathan
(Expert) 08 April 2010
Yes.. Foreclosure charges have been approved by RBI. But you can negotiate for waiver and represent the matter to the proper forum seeking redressal
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