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SBI refused loan repayment txn - "USE DISCHARGE TNX TO PAY OFF ENTIRE LOAN"

RevEng

TF Select
What does this mean?

I made an RTGS of total outstanding amount. There is no prepayment charge for education loan. But still SBI reversed the transaction.

Are there any other charges for loan closure?
 
It has been quite sometime since I paid my SBI loan but I think for SBI you cannot pay the whole outstanding by online. For my car loan, it was not allowing me to pay the full outstanding online. So, I paid all the amount except Rs 1000 and then paid the remaining at the branch when I went to take the NOC.
 
@RevEng @chasni I am looking to foreclose my education loan taken from SBI this month end. I took loan from my college branch. Is it required to go to the branch to close it? Or can I can pay total amount -1000 and let the next emi make the deduction of 1000? I can't go to the branch. Any suggestions
 
@RevEng @chasni I am looking to foreclose my education loan taken from SBI this month end. I took loan from my college branch. Is it required to go to the branch to close it? Or can I can pay total amount -1000 and let the next emi make the deduction of 1000? I can't go to the branch. Any suggestions
Pay (amount - 1000) and write an email to branch manager to close the loan account. No need to visit the college branch.
 
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