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Loan FAQ

Unique Document Identification Number (UDIN) For Checking Authenticity of CA-Certified Documents

Unique Document Identification Number (UDIN)  is being introduced by CA Institute for Checking Authenticity of CA-Certified Documents. Using UDIN, Banks and other regulators like...

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Loan FAQ

Bank’s Legal Notice Served Through WhatsApp is Valid For Loan Recovery

A big relief for lenders and bad news for defaulter of  loan or credit card payment or someone who are evading the...

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Loan Ratio

How To Calculate Security Coverage Ratio ?

Calculate Security Coverage Ratio - This is the most required ratio formula for loan approval. Majority of loan inclusive of Term loan...

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Banking News

How Does RBI Rate Cut Impact EMI of Loan ?

How Does RBI Rate Cut Impact EMI of Loan ? - Reserve Bank of India has cut the repo rate in their bi...

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Loan FAQ

How To Calculate Loan Monthly Reducing Balances Interest?

How To Calculate Loan Monthly Reducing Balances Interest? - Number of time lender promote their loan products quoting Reducing Balance EMI. This...

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Loan Ratio

How To Calculate Net Interest Margin(NIM)?

Formula to Calculate Net Interest Margin (NIM) in Percentage, which is the difference of Interest Income generated through various sources and expenses made...

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Loan FAQ

How Does accepting OTS effect on Credit History ?

One Time Settlement Scheme , OTS effect on Credit History of an Individual future credit history : Just as all information about credit availed (amount availed, payments, defaults etc) is reported to Credit Information Companies (CICs), the fact that the borrower has closed a loan account after accepting an OTS is also reported to CICs. The bank is required to explain to the borrower the consequences of accepting an OTS on his / her credit history/ credit rating in the...

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Loan FAQ

When will bank return the securities after closure of loan ?

How much time bank would take in returning the title deeds /securities after closure of loan. Banks should return all the securities / documents/title deeds to mortgaged property within 15 days of the repayment of all dues agreed to or contracted. If any right to set off is to be exercised for any other claim, the bank will give due notice with full particulars about the other claims and retain the securities/documents/title to mortgaged property till the relevant claim is...

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