Documents Required For Foreclosure Of Personal Loan
Description
How to fill out Statutory Notices Required For California Foreclosure Consultants?
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FAQ
Before you decide to pre-close it, you need to seek permission from the lender, while in some cases, lenders also charge foreclosure penalty charges, if you pay the loan before the agreed tenure. The bank levies a penalty to compensate for the loss of interest amount.
Dear Sir/Madam, With utmost respect we, _____ and ____ husband/father/mother and wife/daughter (any relationship) respectively run a combined home loan account in your bank under the loan account number _____________. We now want to foreclose on our home loan, and we paid the outstanding loan amount of Rs.
Personal Loan Closure Letter Format Dear Sir/Ma'am, I am Sudharshana Karthik, and I have a personal loan in my account in your bank. I am writing this letter to request you to close my personal loan account with the number 1526xx4656. I have paid all my EMIs, and the loan tenure is complete.
These pre-closure charges for personal loans differ depending on the lender and the terms of your loan agreement. Usually, personal loan foreclosure charges vary between 3% and 6% of the outstanding loan amount. You can also check the latest RBI guidelines on foreclosure charges for a personal loan.
Documents required for Personal Loan Pre-closure Relevant loan documents. Proof of address and identity - Passport, Aadhaar card, Voter ID card, etc. Loan statements displaying the details of the EMIs paid till date. Cheque or demand draft.
