Asked by Kumar S
We are in the Process of Buying Private Residential Unit.
OTP exercise is PENDING completion. Bank has approved Loan.
Law Firm formality is just completed.
Need to know whether Approved Bank Loan has to be ACCEPTED by me before OTP exercised date?
I am bit worried by any chance if OTP exercise cannot complete because of any reason then Bank will charge me ACCEPTANCE PENALITY as 0.75% of Undisbursed Amount. To avoid above scenario, I am waiting to ACCEPT BANK's Loan Approval till Exercise Date.
Is this recommendable?
OTP exercise is PENDING completion. Bank has approved Loan.
Law Firm formality is just completed.
Need to know whether Approved Bank Loan has to be ACCEPTED by me before OTP exercised date?
I am bit worried by any chance if OTP exercise cannot complete because of any reason then Bank will charge me ACCEPTANCE PENALITY as 0.75% of Undisbursed Amount. To avoid above scenario, I am waiting to ACCEPT BANK's Loan Approval till Exercise Date.
Is this recommendable?
73 views
