Have taken home loan and death due to corona, what will happen? Whether the loan is forgiven, know what the rule says

Have taken home loan and death due to corona, what will happen? Whether the loan is forgiven, know what the rule says

What If Home Loan borrower dies: Thousands of people are dying on a daily basis due to Corona. Most of the dead are young people and many of them were the only bread earners for their families. In such a situation, after the death of these people, the sky of disaster has broken on the family. In today's era, everyone first buys a house for himself after earning and a large part of the salary goes out in the form of home loan EMI.

In this era of pandemic, if a home loan borrower dies, what will the bank do, what should his family do, is that loan forgiven, if the loan is not forgiven then how does the bank recover that loan, Answers to all these questions are necessary. According to the rules, if a home loan borrower dies, it does not affect the bank's loan. After the death of the borrower, the responsibility of repaying the loan rests with the co-applicant or the guarantor. If both are not there, the bank will approach the person who will be the legal heir to the borrower's property. Through all these avenues, if the bank feels that it is not possible to repay its loan, then it has a legal right to take possession of the property, then sell it and recover its loan.

The bank never waives its loan

Overall, the loan of the bank is not waived under any circumstances. There is no such law in our country that waives off the loan on the death of the borrower. Therefore, if you also have any such misunderstanding in your mind, then first of all clear it. This rule applies to all types of bank loans.

what should family members do

Now the big question arises that in the event of the death of the borrower, what path should the family members take. If you have a good relationship with the bank regarding loan repayment, then you can get relief. Therefore, in the event of the death of the borrower, first inform the bank about it. The bank will understand your helplessness and you may get some time to repay the loan.

How to do the repayment

If the borrower's wife is getting any kind of benefit from the ancestral property or gets a pension, then she has the first responsibility to repay the loan. If the property is divided equally between the children and the wife, then the bank asks you the question who will do the loan repayment. In many cases, the bank may also give you the option of loan settlement. However, this is possible when the loan amount is low or you have a good relationship with the bank and a good payment history. Loan settlement depends on many factors.

You can get rid of the hassle with these tips

Experts advise that after the death of the borrower, the problem of repayment of the loan becomes very serious. In such a situation, there is a need to show wisdom ahead of time. Investment consultants recommend that you get life insurance for yourself for the amount of home loan you take. It is also called term insurance. In this situation, if a borrower dies, the loan can be paid in a lump sum with the money received from the insurance company.


Passengers will get free Wi-Fi at 15 stations of Kashmir Valley, this facility has been found in more than 6 thousand places in 5 years

Passengers will get free Wi-Fi at 15 stations of Kashmir Valley, this facility has been found in more than 6 thousand places in 5 years

The Railway Ministry said on Sunday that public WiFi has been made available at 15 railway stations in the Kashmir Valley, including Srinagar. Apart from providing Wi-Fi in the stations of these states, so far 6021 stations with RailWire Wi-Fi facility have been built in India.

Wi-Fi of Indian Railways is being made available under the brand name of Railwire. This public Wi-Fi is available at 15 stations (Baramulla, Hamre, Pattan, Majhom, Budgam, Srinagar, Pampore, Kakapora, Awantipora, Panzgam, Bijbehara, Anantnag, Sadura, Qazigund, Banihal). On the other hand, Railwire WiFi is already available at 15 stations including four district headquarters in Jammu region.

In fact, the Ministry of Railways had entrusted the Internet company RailTel to provide public Wi-Fi at all railway stations. The vision behind this work was to transform the railway platform into a platform for digital inclusion. At the same time, this Wi-Fi network of RailTel is spread in more than 6 thousand railway stations across the country and it is one of the largest Wi-Fi network in the world.

Wi-Fi plays an important role in connecting people

Railway Minister Piyush Goyal said that RailWire WiFi available at these 15 new railway stations in Jammu and Kashmir can be used by passengers with smartphones and working mobile connections. Wi-Fi plays an important role in connecting people.

He said that Indian Railways, in association with its RailTel Corporation of India Limited, is playing a vital role in bringing high-speed Wi-Fi to every nook and corner of the country. Today, on World Wi-Fi Day, I am happy to announce that 14 stations in Srinagar and the Kashmir Valley have become part of the world's largest integrated public Wi-Fi network connecting over 6,000 stations across the country. went. "

Important Steps for Digital India Mission

With this, all stations in the Valley now have public Wi-Fi, Goyal said. This is an important step for the Digital India mission and will go a long way in connecting people. I commend the team of Indian Railways and RailTel, who worked tirelessly to achieve this remarkable feat.


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