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Naga   14 March 2018

Bulk settlement of bank loan


My relative had borrowed a loan amount of Rs.30 Lakh 3 years ago from Nationalised Bank. Now the total amount including principal and interest stands at Rs.37 Lakh.  However, due to the financial pressure, they are not in a position to pay the amount regularly. Now they want to settle it for a bulk settlement in 3 months for a lesser amount by selling off their land. Kindly let us now as to the reasonable amount that my relative can negotiate with the bank manager and how much time shall we ask to settle it. Kindly give your suggestions.

 1 Replies

R.K Nanda (Advocate)     15 March 2018

contact bank manager and negotiate for amount.

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