Legal Question in Civil Rights Law in India
is there any maximum limit of hand loan? if interest is allowed on hand loan/friendly loan?
Asked on 4/21/12, 6:50 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
22.04.2012
Dear Friend,
A loan is a loan.You can call it by any name. It may be given interest free or with interest. There is no maximum limit on a personal loan.
A word of caution here : Since you say friendly loan; God forbid, but you may have to choose between your friend or the money repayment later. Because it invariably happens that the friend takes you for granted and never repays the loan amount, thinking that you will never ask for it. Be clear with him before you give him the money.
You can also mail me for further on-line legal advice at [email protected]
Regards,
Answered on 4/21/12, 9:05 pm
Related Questions & Answers
-
What are conditions required for temperary injunction? Asked 4/21/12, 5:25 am in India Civil Rights Law
-
I am a girl (unmarried) from Delhi - India. I want to make a passport. My permanent... Asked 4/21/12, 1:03 am in India Civil Rights Law
-
Now minor after major can he settlement his property to his mother? Asked 4/20/12, 6:08 am in India Civil Rights Law
-
Friendly loan given and agreement written on a chit.no account.money given in... Asked 4/20/12, 5:23 am in India Civil Rights Law
-
Hi, i have one yunger borther who got married in 2005 and had a son. i got married... Asked 4/19/12, 3:20 am in India Civil Rights 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.
