Can I do the franking of property documents in any bank? Or are there designated banks for it? Is it necessary to have an account with that bank to get the franking done?
Property documents are not franked by the bank. However, the loan agreement is normally franked/notarised by the bank, since it's a contract being signed by the bank and the customer.
In a joint account, will both account holders get debit cards? Is there a limit on how much each can withdraw?
Yes, both customers can opt for a debit card, depending on the constitution of the account. As a thumb rule, in all accounts where joint holders have equal rights to transact individually, a debit card can be issued to both.
The withdrawal limit of each debit card is defined according to the debit card variant which a customer holds. This is not dependent on whether the customer is primary account holder or joint account holder.
If I get a personal loan pre-approved for Rs 10 lakh from my bank, do I have to avail the entire amount? Can I avail part of the approved amount?
The pre-approved amount is a function of the repayment capability of the customer based on his earnings and fixed financial obligations. However, the customer can avail of any amount lesser than the pre-approved loan amount.
If I transfer the balance from one credit card to another, what will happen to the reward points accumulated on the first one? Will they go waste?
The reward points accrual system varies with the card type as well as the bank. However, there is no impact on the reward points earned on the card from which the balance has been transferred, as long as the relationship is active.
Is it possible to convert one or two transactions on my credit card into an EMI? Or does the entire amount have to be converted into EMI?
A customer has an option to convert a particular transaction or the entire balance. However, banks have a minimum threshold for such conversion that varies from bank to bank.
Property documents are not franked by the bank. However, the loan agreement is normally franked/notarised by the bank, since it's a contract being signed by the bank and the customer.
In a joint account, will both account holders get debit cards? Is there a limit on how much each can withdraw?
Yes, both customers can opt for a debit card, depending on the constitution of the account. As a thumb rule, in all accounts where joint holders have equal rights to transact individually, a debit card can be issued to both.
The withdrawal limit of each debit card is defined according to the debit card variant which a customer holds. This is not dependent on whether the customer is primary account holder or joint account holder.
If I get a personal loan pre-approved for Rs 10 lakh from my bank, do I have to avail the entire amount? Can I avail part of the approved amount?
The pre-approved amount is a function of the repayment capability of the customer based on his earnings and fixed financial obligations. However, the customer can avail of any amount lesser than the pre-approved loan amount.
If I transfer the balance from one credit card to another, what will happen to the reward points accumulated on the first one? Will they go waste?
The reward points accrual system varies with the card type as well as the bank. However, there is no impact on the reward points earned on the card from which the balance has been transferred, as long as the relationship is active.
Is it possible to convert one or two transactions on my credit card into an EMI? Or does the entire amount have to be converted into EMI?
A customer has an option to convert a particular transaction or the entire balance. However, banks have a minimum threshold for such conversion that varies from bank to bank.
The views expressed are expert's own. Send your queries to yourmoney@bsmail.in
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