Cash Credit Account Pre closure charges
Dear Sir,
we are opened Cash credit account in IDBI Bank with CC limit 30 Crores.
we want to change CC Account to SBI Account. in this we are already receiving SBI CC Account.
in this matter IDBI Bank asking interest and some charges. we should agree to pay that charges.
and they are asking pre-closure charge on working capital @ 3%. for Rs. 45 Lakhs. Iis it correct to pay this amount.
other banks are saying, they are asking wrongly. actually this charges is 1% or 1.5%.
Please give correct Solution.
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