Hey there friend, if your account or loan account has been declared NPA(Non-Performing Asset,) by the bank. The bank will confiscate the property or the asset which was purchased through the loan. The bank will then be able to auction the asset to pay against the outstanding loan amount.
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To answer your question, a bank or financial institution might not give you a loan as you were unable to fulfill the repayment. When a loan becomes NPA,banks are required to suction the asset and classify the NPA into categories.
Your asset will be liquidated to fulfill the terms of loan agreement.
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Can I get loan of atleast 50% of my property value after getting npa of my acount
Abhaya kumar patra
1.8k Views
1
3 Year
2022-01-24T10:42:19+00:00 2022-01-28T08:21:04+00:00Comment
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