krishna (sr.executive finance) 06 November 2011
Hi,
1. Please advise if the amount paid to a builder for construction of house can be treated as handloan as one of the part time builder is claiming as he had given handloans and the cheques given is nothing but repayment of hand loans. In this issue there is no evidence of handloans taken in writing.
KM
N.K.Assumi (Advocate) 06 November 2011
Hand Loans or same day loan are those given by the bank for some emergency purposes without any collateral security or documents and are given within 24 hrs, hough it is for small amount. I am not aware if such payment to a builders can be treated as hand loans or same day loans.
krishna (sr.executive finance) 06 November 2011
Thank u for the message. Still a point of clarification, whether any hand loans are given in lacs of rupees ie like Rs.1,00,000/- or Rs.150000/- which can be repaid in a single day to the person who is working full time as Government employee( Clerk cadre ) and only doing a part time building activities as he is claiming that he is giving handloans on regular basis that too in lacs of rupees in a span of within 6 months.
KM
michal101 (same day payday loan) 10 February 2012
Same day payday loan is one fastest process of the loan. It is for remove the emergency money problem. It doesn't required so much complicated process. It is the way to fullfill some emergency purposes without any collateral security.
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