Legal Question in Banking Law in India
Hi, I have taken LAP loan 8 years ago on my home property, by my personal name, after 1 year they converted that LAP loan into DOD dropline OD account. i am paying regular interest and my account is active.now i want to foreclose the said DOD account. as there is law from RBI dated 7/may2014, waiver of foreclose charges on personal loans.
If i close my DOD account which in my personal name in HDFC bank. should i have to pay foreclosure charges or not. ??
Thanks in advance to the valued advisers .
Asked on 9/14/14, 4:19 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.09.2014
Dear Sir / Madam,
Since you are aware that RBI has waived foreclosure charges, simply produce a copy of the RBI notification to the bank whilst prepaying and closing your A/c.
Regards,
Answered on 9/14/14, 7:08 am
Related Questions & Answers
-
Good morning sir, I received a cheque from my colleague where he has to Pay me some... Asked 9/13/14, 8:21 pm in India Banking Law
-
Dear Sir, I am a karta of HUF. I run a Hotel. Can I take a CC limit for the Hotel,... Asked 9/11/14, 11:57 am in India Banking Law
-
My name is Vinay kumar my father worked as sub staff in Indian bank { PSB } my... Asked 9/11/14, 9:22 am in India Banking Law
-
Dear Sir, I would like to inform you that I was credit card holder of central bank... Asked 9/08/14, 5:38 am in India Banking Law
-
Hi, My Father has completed 20 years of Service in State Bank, he was voluntiary... Asked 9/02/14, 10:08 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
