Nomination in case of gold loan in banks

Querist : Anonymous (Querist) 05 January 2012 This query is : Resolved
Is there nomination facility is available to Gold loan borrowers in Banks?

How it is applicable ?

Please give full details and its practicability?

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Devajyoti Barman (Expert) 05 January 2012
What is your dispute?
We do not encourage mere academic discussions.

Raj Kumar Makkad (Expert) 05 January 2012
It depends upon the policy of bank, however, generally this is available like all such deposits.

You shall have to file a nomination form while borrowing against your gold with the particular bank branch as per their requirement.

ajay sethi (Expert) 05 January 2012
contact your bank for details .

Sailesh Kumar Shah (Expert) 06 January 2012
Contact bank for details.

I feel that it is not 'FIT' query for this forum.

Deepak Nair (Expert) 06 January 2012
Please find out from the bank authorities.

prabhakar singh (Expert) 06 January 2012
You look to be a gone case.Nothing is intelligible from your words.
Nominations in banks or any where made for rights to money and deposits and not for liabilities.

Rajeev Kumar (Expert) 06 January 2012
Contact the bank for details

Shonee Kapoor (Expert) 06 January 2012
Rightly stated by Ld. Prabhakar Singh Ji.

However, the query pretains to Gold Loan, where the Gold is kept as collatoral, and the borrower has paid partly paid off the loans and all.

Hence the same can be willed to someone and he can get the same released after paying the dues.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Raj Kumar Makkad (Expert) 06 January 2012
Gold is retained by banker and loan is granted against it so this is not liability rather it is an asset being retained in the bank. So author is right in asking his query which has already been clarified to him.

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