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If the customer is unable to repay the loan amount in what way the bank helps him?
Wiki User
∙ 13y ago
Actually No. if the bank officers are considerate enough they might give you a little bit extra time when compared to other defaulting loan customers. If you are not able repay the money you owe them even after the extra time, the bank will take possession of your assets and property like house/car etc. and then arrange to sell them to raise cash to pay for the loan amount you owe them.
Wiki User
∙ 13y ago
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How do you make sentence with repay?
i will repay the amount by next wednesday
What percentage of borrowers are unable to repay their payday loans?
15%
What is the procedure for bank undertake a property for non repay loan in India?
First the bank remain about the amount repay to their customer, secondly the bank remain the last date for repaying loan to the customer, thirdly the tell to customer like if not repaying will in court and last but not least the bank post a letter like they have applied in court for repaying the loan. then they can follow the courts procedure.
What does it mean when banks are insured by the FDIC?
Banks that are insured by the Federal Deposit Insurance Corporation are insured against loss as a result of the bank defaulting or otherwise being unable to repay a customer's money.
Is a bank loan an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
What is Fiscal Crisis?
unable to repay ones debt
How do you make sentence with repay?
i will repay the amount by next wednesday
What describes bankruptcy?
a legal declaration that you are unable to repay your debts
What percentage of borrowers are unable to repay their payday loans?
15%
What is the procedure for bank undertake a property for non repay loan in India?
First the bank remain about the amount repay to their customer, secondly the bank remain the last date for repaying loan to the customer, thirdly the tell to customer like if not repaying will in court and last but not least the bank post a letter like they have applied in court for repaying the loan. then they can follow the courts procedure.
What does it mean when banks are insured by the FDIC?
Banks that are insured by the Federal Deposit Insurance Corporation are insured against loss as a result of the bank defaulting or otherwise being unable to repay a customer's money.
What happens when a commercial bank make a loan?
The following things happen: a. The money gets credited to the customer's account b. The customer agrees to repay the loan as equal monthly installment payments c. Every month the customer would repay both principal and interest d. The principal amount will be offset against the loan granted and the interest will be considered income for the bank
Is a bank an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
What is conventional bank?
It is one of the Banking systems.in this banking system loans are given to customer at fixed interest rate and more time is given to repay the loan. In this case the amount you pay will be more than whatever you have taken.
Is a bank loan an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
After World War I, which country contributed to the Stock Market Collapse of 1929 because it was unable to repay its loans?
Germany
After world war 1 which country contributed to the stock market collapse of 1929 because it was unable to repay it loans?
Germany
