What is facility agreement?

Nazeer Ahmed (Querist) 28 June 2016 This query is : Resolved
I want to know the difference between Home Loan Agreement and Facility Agreement? While signing the documents, the bank took signatures in Home Loan Agreement and after frw days at the time of disbursal took signatures in Facility Agreement as the bank had financed the Builders project. Pls guide me legally?

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R.K Nanda (Expert) 29 June 2016
Ask from Concerned bank.

Rajendra K Goyal (Expert) 29 June 2016
Without going through the documents nothing proper can be advised.

However, you have taken loan, Bank gets no. of supplementary papers signed. Ask the Bank to provide you copy of all the documents you signed (Bank is under obligation to provide as per RBI directives). Get these checked through your lawyer.

Dr J C Vashista (Expert) 05 July 2016
Show the document to a local lawyer.
Did you ask the banker before signing the agreement?

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