I have taken a car loan from one international back in India . EMI transactions bank has opened a new saving account and linked my loan account with my saving account . During my loan tenure , I never kept any balance in my saving account except the EMI amount. After my loan tenure over also , I was holding my saving account without any balance.
When I enquire about the procedure for closing my saving account , bank is saying that , In need to pay service charge for not maintaining minimum quarterly balance. In this regard bank does not inform any information My last statement received from the back also does not mentioning any intimation for me to pay service charge.
I would like to know, for closing my saving account , do I need to pay any service tax , since I have not maintained any minimum balance.
Sujith