Know: If the person who takes a loan is mature, then who has to pay the arrears? Learn rules here

If you ask someone, then you can never see that they can never advise you to take a loan. The reason behind this is that people do not consider taking loans right. It is said that this causes a man to get trapped in debt. However, the trend of credit cards is very high, especially among today's youth. On the other hand, people take many types of loans like personal, home, and car loans according to their needs. But just think that someone has taken a loan and for some reason he dies, then what will happen to his loan? Does the loan of such people be forgiven and if not, who has to fill it? So let's try to know. You can learn about it in the next slides ...

Credit Card
The bank provides credit card facilities to its customers, but it is not a safe loan. Therefore, if the credit card customer dies, then the bank cannot take the remaining liability from his successor, legal heir, or any other person.

Personal loan
Like a credit card, a personal loan does not come in the category of an unusable ie a safe loan. Therefore, the bank cannot take money from any other person, successor, and legal heir when the person taking it. Also, they cannot force them to repay the loan. In such a situation, the outstanding of the credit card and personal loan is right off, that is, the discount is put in the account.

Auto loan
If someone has taken a loan for an auto loan, a car, or a bike, but for some reason he dies. Then in such a situation, the bank asks the family of that person to fill the dues. If anyone is unable to pay, then he takes that car to the bank and he auctioned his money by auctioning it.

Home loan
The home loan is a secured loan and in addition to the person taking the loan, it also has a co-applicant. In such a situation, the person taking the loan has to pay dues when the person taking the loan. But in case of non-payment, the bank takes its outstanding amount by auctioning the property of the customer instead of a loan under the Sarafei Act. Many times it is insured while taking a loan. In such a situation, when the customer dies, the bank takes money from insurance.

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