Loan settlement
sameer kumar pandey (CA Practice ) (24 Points)
13 September 2015
can anyone tell me about loan settlement affidavit letter format ?
2 Replies
Spirit
(Learner)
(450 Points)
Replied 13 September 2015
Ok I am assuming you want to payoff outstanding amount of your loan in lump.
for that -You are required to write a letter to your Bank.
here is the sample of student education loan
Samar Mukherjee
(7 Points)
Replied 09 February 2016
Dear All,
Three (3) different payment / settlement modes are commonly found in financial sector and are discussed here -
(1) Full repayament of Loan with interest in one lump sum.
(2) Sellellment payment of the loan - where some amount of WAIVER is agreed.
(3) Partial or 10% of the basic loan can be repaid and such amount can be deducted from the basic loan sanctioned.Eventually there can be reduction in the amount of future EMIs.
Finally since borrowing is a contract - customers are advised to communicate suitable letter and get the same acknowledged and agreed by FIIs/ Banks.
S.Mukherjee
09.02.2016
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