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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 is clean loan?
Loan granted by the bank without accepting any security is called a clean loan. But the bank will safegaurd themselves by checking the repaying capacity based on the salary cerificate.
What happens to a loan if the bank fails?
If a bank fails, the loan is typically transferred to another financial institution or a government agency. The borrower is still responsible for repaying the loan, but the terms and conditions may change.
Why do banks only lend money when you have assets that are as valuable as the loan?
Usually banks do not expect you to pledge assets that equal the value of the loan if you have a good job and earning capacity and a good credit history. However, they may ask you to pledge assets in case your job is unstable or your credit history is bad. This is because, the bank would need some kind of assurance that, even if you stop earning or repaying your loan, they have some means of recovering the money they are going to lend you as part of the loan.
What happens to my loan if a bank goes bankrupt?
If a bank goes bankrupt, your loan may be transferred to another financial institution or a government agency. You will still be responsible for repaying the loan, but the terms and conditions may change.
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 is clean loan?
Loan granted by the bank without accepting any security is called a clean loan. But the bank will safegaurd themselves by checking the repaying capacity based on the salary cerificate.
What is the entry for bank loan account?
Debit Bank Account - Assets Credit Bank Loan Account - Liability
What happens to a loan if the bank fails?
If a bank fails, the loan is typically transferred to another financial institution or a government agency. The borrower is still responsible for repaying the loan, but the terms and conditions may change.
What are the primary assets and liabilities of a commercial bank?
Loan assets and investment assets are the primary assets of a commercial bank. Deposits and borrowing are liabilities also known as claims to a commercial bank.
Why do banks only lend money when you have assets that are as valuable as the loan?
Usually banks do not expect you to pledge assets that equal the value of the loan if you have a good job and earning capacity and a good credit history. However, they may ask you to pledge assets in case your job is unstable or your credit history is bad. This is because, the bank would need some kind of assurance that, even if you stop earning or repaying your loan, they have some means of recovering the money they are going to lend you as part of the loan.
What happens to my loan if a bank goes bankrupt?
If a bank goes bankrupt, your loan may be transferred to another financial institution or a government agency. You will still be responsible for repaying the loan, but the terms and conditions may change.
Does a bad loan affect the cosigner?
Yes. That is the whole purpose of having a co-signer. They are liable for repaying the loan if the primary borrower defaults.
What happens to a loan if the bank that issued it goes bankrupt?
If the bank that issued a loan goes bankrupt, the loan may be transferred to another financial institution or a government agency. The borrower is still responsible for repaying the loan, but the terms and conditions may change.
What are the risks associated with taking out a recourse loan for a business investment?
Taking out a recourse loan for a business investment means you are personally liable for repaying the loan, even if the business fails. This can put your personal assets at risk if the business is unable to repay the loan.
Where can you get a large loan?
If you have a good credit history and assets to cover a potential loan as collateral, any mainstream bank will be happy to provide you with a loan.
What are Non performing asset of banking industry?
A Non-Performing Asset or NPA is an asset of the bank that is not performing its intended job i.e., earn money for the bank. From the bank point of view, Loans are assets. A loan for which the customer is repaying his monthly installments regularly every month is a properly performing asset. Whereas a loan for which the customer has defaulted on the monthly payment for more than 3 months is considered a non performing asset.
