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Bank CC and home loan in the same bank consequences
02-Jun-2023 (In Banking / Finance Law)
We have a cc limit with the bank and have a home loan in the same bank and business is in partnership due to problem in business the cc account is disturbed and home loan is on the name of one the partner's wife. And home loan is working smoothly it is not distributed where as the cc might happen NPA So will the homeloan account and residence will also be effected if the cc account is disturbed or be NPA The owner of house is gurrantor to cc limit with the bank
If the account in which CC limit is there gets disturbed and bank declares it NPA, then in my view, the home loan account of another partner's wife wont get affected since its a separate account and for a different purpose. Even if the owner of house is the guarantor to the CC limit, then also, bank may move forward to attach the property but account in bank wont get affected.
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Adv. Anurag Kalavatiya
Jaipur | 25+ Answers
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