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Mary Benjamin   07 July 2017

Personal loan

My personal loan at Central Bank of India is due for 2 months.  The bank is threatening to issue a NPA notice.  Is there something I can do about this??? Please advise


 6 Replies

Arjun Kohli   07 July 2017

You can talk to them and re-assure them of your willingness to re-pay the loan. Moreover, if you have already paid some installments, you can use them to strengthen your position and talk to the Manager of  the said department directly as any direction by him will be appropriately adhered to by his subordinates.

Kumar Doab (FIN)     07 July 2017

Settle with lender.

Rajendra K Goyal (Advocate)     13 July 2017

Better keep the account regular by paying EMI in time.

Bank is bound to follow RBI guidelines.

Kumar Doab (FIN)     13 July 2017

You have borrowed.

You are to pay.

Bank/banker are concerned with payment of lent monies.

Adv Ibrahim Deshmukh - Navi Mu (Advocate)     17 December 2017


If the Borrower fails to repay loan instalments for over 90 days then under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act the Banks can classify a borrower’s account as Non-Performing Asset. Once the borrower's account is classified as a non-performing asset, the Bank has to give the Borrower 60 days notice to repay the amount.

Once the Borrower fails to comply with the Notice, the Bank proceeds further to sell the asset with a public notice of 30 days.  If the Borrower can settle the issue with the Bank within this period its good for both sides.

Ibrahim Deshmukh
Legal Consultant


Shruti   19 January 2023

There are several options you can consider if you are unable to repay your instant personal loan at Central Bank of India:

Reach out to the bank and explain your situation. They may be willing to work with you to come up with a repayment plan that works for both of you.

If you are facing a temporary financial hardship due to reasons such as job loss or medical emergency, you may be eligible for a loan moratorium.

Consider consolidating your debt through a balance transfer or a personal loan consolidation program.

If you are unable to repay your loan despite your best efforts, you may want to consider debt settlement or debt restructuring.

It is important to note that these options will vary depending on the bank's policies and your individual circumstances, so it's always best to speak with a representative from the bank directly to understand your options.


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