Legal Question in Banking Law in India

my father took a loan of rs.30000/- from a money lender (kabuliwala) dated 2005, paying 6% interest/month for the last 8 year, is 6% interest is legal?


Asked on 1/09/14, 4:54 pm

1 Answer from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

can you question the lenders rate of interest after 8 years. did you tell him that the rate of interest are too high and he should lower the same. If there is any written agreement that needs to be seen before the advice can be given

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Answered on 1/10/14, 5:21 am


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