About Loan Installment?

Question

I have a Personal Loan which instalment I am paying regularly  but this time I want to pay full Loan amount is it possible to do . Reason is I am going to shift to Delhi or can I have a option to pay that instalment from  Delhi branch I am trying to reach to banks service centers  but they are not responding me  so please sir help me in this or tell me some other way to pay instalment

Answer 1

Hi Poonam,

You have both the options.

a) You can close the loan account before its due date by paying the outstanding amount. However, you may have to pay pre-mature closure penalty. For details, contact your branch.

 b) You can also pay the installment from anywhere in India. Now-a-days, almost all the Banks, including small cooperative banks, are offering anywhere banking facility. You can go to any branch of your Bank at any place and give a cheque mentioning loan account number in it. The amount will be credited to your loan account in "Transfer" mode. You can remit money to your loan account either from any branch of your Bank or any other Bank. You can also remit funds by yourself to the loan account through Netbanking mode.

Please approach your branch from where you have taken the loan and discuss with the Branch manager regarding modality of payment from another city.

P K Dash