Legal Question in Banking Law in India

I have kept my FDR against vehicle loan for my friend. How can I take out the FDR? He is regular in repayment of loan EMI

Asked on 10/10/13, 4:59 am

2 Answers from Attorneys

J. Radhakrishnan independent Practice
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Unless the entire loan is repaid you cannot free your FDR from bank's lien.

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Answered on 10/10/13, 10:14 am
Fca Prashant Chavan Expert Edge LLP
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14.10.2013

Dear Sir / Madam,

Unless you provide some other security to the bank which they agree to, you cannot get your FD back from the bank till the loan is fully paid off.

Regards,

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Answered on 10/14/13, 8:44 am

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