I have taken personal loan of Rs 5,00,000 from a Private Bank in the month of June 2012 for the period of One Year and i am regularly paying the installements. Now, I wanted to close the loan account and I have applied for same. But I have received a letter from bank mentioning that the bank is not ready to close the loan account before one year.
Kindly advise me now what step can be taken to close the loan account.
Sandeep Kumar Srivastava