is Sharing bank details of bank bank with another necessary
03-Aug-2023 (In Property Law)
Dear Sir, I have applied for home loan from abc Bank which has some collaboration with builder to provide home loan with some benefits to the customer. I have given some amount like 20% of the property value to the builder through cheques. Now this abc bank asking me to show the statement where I paid 20% to the builder. But I don't want to show or share my bank details and payment enteries to other banks. Is there any other alternative where I can fulfill the abc bank demand to grant my home loan ?
Sir, you can go to your bank from which you have paid the 20% of sale price to builder. Ask the banker to certify this payment in the account no. Of builder on the letter head of bank or you can ask builder to show its bank statement to bank who is asking for or give affidavit that he has received 20% of amount from you.
Dear Sir,
If you would want the home loan to be allowed, you will have to show those documents which are required by the abc bank for processing it. The bank is mainly asking you for the payment entry only because they want to make certain that you are a bonafide borrower and not someone trying to defraud the Bank. I would suggest you to provide them with the passbook page which is showing the entry of the 20% amount being debited from your account. There is nothing to be worried about as the same cannot cause any harm to your money lying in the other account.
Alternatively you can ask the Bank to give you any other alternatives of the same like processing the loan on the basis of the agreement to sell which i am assuming might have been executed between you and the builder.
However, it is important for you to understand that if the Bank insists on you providing the proof of the cheque, the Bank has a right to so.
If you would want the home loan to be allowed, you will have to show those documents which are required by the abc bank for processing it. The bank is mainly asking you for the payment entry only because they want to make certain that you are a bonafide borrower and not someone trying to defraud the Bank. I would suggest you to provide them with the passbook page which is showing the entry of the 20% amount being debited from your account. There is nothing to be worried about as the same cannot cause any harm to your money lying in the other account.
Alternatively you can ask the Bank to give you any other alternatives of the same like processing the loan on the basis of the agreement to sell which i am assuming might have been executed between you and the builder.
However, it is important for you to understand that if the Bank insists on you providing the proof of the cheque, the Bank has a right to so.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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