Admin & Legal Officer
Goutam Pradhan
Asst. Software Engineer

Dear Sir/Madam,

I have one education loan with INDIAN BANK, I have taken loan amount of principal Rs261000/- on dt- feb-2010. After my education got completed I started my loan re-payment. Now my current outstanding principal Rs200000.

While taking loan I have given two documents as mortgage

1. Land document (Owned by my Mother)

2. Home document (Owned by aunt (Maternal)).

So now due to some family issues I wanted to release 2.Home Document from Bank. I requested Bank to give me 2nd document & I told them, I will clear 30% of principal amount of my loan in one shot. Even i don't have EMI bounce as of now. Bank is refusing to release 2nd document. They are asking me to close the loan will give.

As per INDIAN BANK rule they shouldn't take any security deposit,If loan amount is below 4lakhs.

So I wanted to know, Is there any process i need to follow to get that done ? or what i need to do now ?Please Suggest me how i will get that. I am waiting for your valuable suggestion please do help.....


Goutam Pradhan


From India, Bangalore
There is no thumb rule in Banking. The rules are in general and it can differ from case to case. You can't insist bank to release any security against sanctioned terms & conditions. You must have copy of bank's sanction letter, please go through it. There must one condition regarding release of offered security.
A. Prakash

From India, Halol
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