Legal Question in Banking Law in India
I have kept my FDR against vehicle loan for my friend. How can I take out the FDR? He is regular in repayment of loan EMI
Asked on 10/10/13, 4:59 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
Unless the entire loan is repaid you cannot free your FDR from bank's lien.
Answered on 10/10/13, 10:14 am
Fca Prashant Chavan
Expert Edge LLP
14.10.2013
Dear Sir / Madam,
Unless you provide some other security to the bank which they agree to, you cannot get your FD back from the bank till the loan is fully paid off.
Regards,
Answered on 10/14/13, 8:44 am
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