Cancellation of my loan by bank
7 months ago
Can bank cancel my loan amount on disbursement date by asking a succenction certificate ( as my mom died in COVID in 2021) which they didn't asked earlier and after taking 22 days for disbursement they cancelled it
A.Dear Sir,
If written check list is not given then you will be not having evidence about the documents claimed by them.
If written check list is not given then you will be not having evidence about the documents claimed by them.
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A.Dear client,
I believe we have already answered your question in the above mentioned question. please check.
I believe we have already answered your question in the above mentioned question. please check.
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A.Dear Client,
For non-compliance with any terms of the loan agreement by the borrower or in the absence of any essential documents that make the borrower disqualified for a loan, even after sanction of the loan, the Bank can withhold the disbursement of the loan or cancel the loan agreement. In that case, the Bank should inform the borrower of the reason behind the cancellation of the loan agreement or disbursement of the loan amount. Accordingly, on submission of the required documents or compliance with the required terms by the borrower, the Bank shall process the loan agreement afresh and disburse the loan to the borrower as per his entitlement or eligibility.
For non-compliance with any terms of the loan agreement by the borrower or in the absence of any essential documents that make the borrower disqualified for a loan, even after sanction of the loan, the Bank can withhold the disbursement of the loan or cancel the loan agreement. In that case, the Bank should inform the borrower of the reason behind the cancellation of the loan agreement or disbursement of the loan amount. Accordingly, on submission of the required documents or compliance with the required terms by the borrower, the Bank shall process the loan agreement afresh and disburse the loan to the borrower as per his entitlement or eligibility.
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