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Kaushik   11 November 2018

Repayment of personal loan

Dear Experts,

If an individual who obtains a personal loan from a bank online through net banking without either providing a guarantor or physically signing any loan document expires without repaying the entire loan, then who shall be liable for repaying the balance loan amount to the bank? Thanks,

Kaushik.



Learning

 2 Replies

Adv Deepak Joshi +917017821512 (Advocate)     11 November 2018

Dear querist,

 

Legal heirs will be liable to pay loan amount of deceased.

 

 

 

Regards

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     11 November 2018

If the individual had filed a nomination during his lifetime, such nominee will be liable. The bank would have a charge on any other account the deceased may have had with the bank. If the loan amount is still not completely covered, the bank will have a charge on any other estate left behind by the deceased along with other creditors, if any, the deceased had.


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