Legal Question in Banking Law in India
I had taken an education loan of 3.25 lacs in 2005, and paid 198000 by 2010.i also had a divorce and a job loss. And discontinued the payment informing the bank for waiver of interest. But I recvd a notice from the bank of 690000 to pay. And now they transfrd the entitlement to an asset reconstruction company. What to do.
Asked on 7/19/15, 4:49 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
19.07.2015
Dear Sir / Madam,
An educational loan is granted for a maximum tenure of 5-6 years taking into consideration the educational course duration of 3-4 years, and 2-3 years thereafter for the borrower to repay the loan. You should reply to the notice from the Bank and negotiate a settlement of the loan.
Regards,
Answered on 7/19/15, 5:47 am
Related Questions & Answers
-
Bajaj finserv personal loan 49000.00 monthly emi full details pls sir Asked 7/15/15, 3:51 am in India Banking Law
-
QUESTION RELATED TO BANKING MATTERS WHETHER FOR A FIXED DEPOSIT A/C (Cumulative... Asked 7/12/15, 9:23 pm in India Banking Law
-
Do we require an antiterrorist certificate to transfer pounds into rupees? Income... Asked 7/10/15, 4:14 am in India Banking Law
-
Hello sir i have one more question i have preparin ibps bank po and clerk... Asked 7/09/15, 10:51 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.
