What happens to Loans if the borrower dies before Clearing the Dues?
Loans We take out loans to purchase a house, a car, and other items for the enjoyment of our family. But what if the borrower passes away? After the borrower’s passing, who will be liable for repaying such enormous loans? It is important to realize that not all loans are the same type in order […]
EMI Moratorium
The Reserve Bank of India (RBI) said that all lending institutions, including banks and housing finance companies, will have to give its borrowers a three-month moratorium on term loans. The moratorium was for payment of all instalments falling due between March 1, 2020 and May 31, 2020. According to the RBI, the deferred instalments under […]