Loan repayment related

Dear Ambi,

 Repayment will be governed by your loan agreement. Please have a look at it to know your repayment schedule, prepayment clause, rescheduelment provisions etc.

You can always negotiate with bank for OTS or find an alternate lender to take over the loan.

It is better to pay as per schedule otherwise penal interest would be applicable. Also kindly note that co-borrower / guarantor is equally liable. Your default would be also reflected in CIBIL records and you may find it difficult to raise loans at a later date.

Dear Ambi,

 Repayment will be governed by your loan agreement. Please have a look at it to know your repayment schedule, prepayment clause, rescheduelment provisions etc.

You can always negotiate with bank for OTS or find an alternate lender to take over the loan.

It is better to pay as per schedule otherwise penal interest would be applicable. Also kindly note that co-borrower / guarantor is equally liable. Your default would be also reflected in CIBIL records and you may find it difficult to raise loans at a later date.

“Bad credit score” is really a scary phrase these days. Many people are stuck with a bad credit score/report due to their own or credit card company mistakes, but most of the times I see that it happens due to poor credit behaviour and mis-management of credit officers. Everyone wants to improve cibil score, so that they do not face any issue in getting loans at some point in future