Legal Question in Banking Law in India

Axis bank has called me and asked about personal loan with my salary criteria thay said ok to procced the loan after few days they responded that that ur age limit is not upto the mark it should be 25 so we could not proceed the laon to you so please assist me is there any age criteria for taking the loan, shall i proceed a legal action on them that they have gave some false commitments is there any Chance????????


Asked on 2/18/14, 11:25 pm

2 Answers from Attorneys
J. Radhakrishnan independent Practice

There is no age limit for considering the grant of loan other than a minor. It is the prerogative of a bank to grant or not grant a loan in a particular case. No question of your proceeding against the bank for not granting you a loan.

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Answered on 2/18/14, 11:34 pm
Fca Prashant Chavan Expert Edge LLP

19.02.2014

Dear Sir / Madam,

Banks grant loan to adults (above 18 years of age) depending on their age, earning potential, ability to repay the loan, etc. Instead of wasting your time legally trying Axis Bank to task, you should look for another bank that will grant you the loan.

Regards,

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Answered on 2/19/14, 12:55 am


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