Concurrent audit
This query is : Resolved
16 October 2015
In case FD has been provided as collateral security and the maturity date comes within sanction period what should bank do? Suppose sanction date 01.02.15 and FD matured on 30.05.15.
16 October 2015
A lien is marked on such FD.
If the FD period does not coincide with the loan period, the Bank mentions the same in agreement / sanction letter and asks the borrower to make the necessary arrangements of collateral SECURITY when the same gets matured.
If the FD period does not coincide with the loan period, the Bank mentions the same in agreement / sanction letter and asks the borrower to make the necessary arrangements of collateral SECURITY when the same gets matured.
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