Can I Settle A Loan Taken From A Bank Without Paying Emi?

I took a loan from a bank but now I am unable to pay it. How can I settle the loan with the bank?
Posted 1 year ago  |    0  | 
Banking
Banking

1 Answer(s)

Harshit Bhurani
Advocate
We would advise you to speak to the bank representative on this point and he would be able to provide you the best options available because the bank has full right to recover the loan amount from you. Please note that there are no legal ways to 'settle' a loan with the bank. You are legally bound to pay back the loan amount along with the agreed rate of interest.

Top Banking Lawyers In India

Have an urgent need? Talk to a lawyer directly.

Need Free Legal Advice?

Find, consult & hire best advocates in India in a few clicks.

Need Legal Agreements?

Create affidavits, contracts etc. online, within minutes.