Bank Of India is Giving Golden Opportunity To NPA Customers, Outstanding Loan Can Be Settled On This Date

Public sector Bank of India is giving a great opportunity to its special customers. Those customers whose loan has become NPA, they can close the account by giving their loan through BOI One Time Settlement Schemes. If you join this settlement, then on behalf of the bank, you can do the settlement by visiting the bank branch on 5th February 2022.

Will get the benefit of exemption under the scheme

The bank has also shared information about this on Twitter. In this, the bank has said that such customers can go to their Bank of India branch (base branch) to take advantage of the exemption under the one-time settlement scheme of settlement of their NPA account. NPA customers can get their NPA account settled and closed by going to the branch court held at the branches of Bank of India on or before 5th February 2022.

If the loan is not repaid, the account becomes NPA

When you take a loan from the bank, it is your responsibility to repay the bank loan on time. But it has been seen some-times that this does not happen. You are unable to repay the loan of the bank and you become part of the Non Performing Assets (NPA) for the bank.

Get good discount in easy installments

Under the One Time Settlement (OTS) scheme, you can repay the loan in easy installments with good discounts. Bank of India is going to set up branch court for NPA customers. Bank of India also auctions the property of the loan defaulter. With this, the outstanding loan is recovered.