Sir, Can a bank loan agreement be made simply by printing in a paper and pasting it in a non judicial stamp paper. If it is so what kind of paper can be used? 1. Legal size green Paper 2. A4 Size green Paper 3. Legal size white paper 4. A4 size white paper Also how to find the stamp duty fee of particular state in India? Please give your valuable answers.
Stamp duty is state subject and varies from state to state
2) check the stamp act of your state for stamp duty payable on document desired by you
3) loan agreement can be printed on stamp paper or on legal size green paper of white paper then franked
1. Sir any size paper can be used for the legal agreement there is no specification of the paper. It can be printed on 100 Rs. stamp paper or a bank franking can be done or ticket can be pasted.
The size or colour of paper has nothing to do wth the loan agreement.
Only the revenue Stamp is required to be pasted at the end of thr agreement.
The loan agreement need not be stamped unless the state stamp duty act so provides.
Agreement made on Normal plain paper is valid, either green legal or white plain A4 size .
Stamp duty charges in India differ from state to state and sometimes ,even within the state. It varies further if the property is within the Municipal Corporation, Municipal Council, Gram Panchayat limits etc. Even the registration charges from state to state and some states also have a maximum cap on registration charges. The information pertaining to your state can be found on the Department of Stamps and Registration websites
There is no issue of green or white paper or size of paper
Loan agreement can be printed on stamp paper or green/white paper of legal size there is no specification related to size of paper or ticket can be pasted
Stamp duty is vary in every state, for finding out you can go through indian stamp act
Stamp duty and fee calculation in Indian state has its own criteria based on which it is calculated.
Dear sirs, I am not clear. Can a agreement be printed in plain white paper and the first page be pasted in a blank non-judicial stamp paper? Can a bank go to a court of law based on the stated agreement? I also want to if a illiterate person can avail loan from bank? If so what are the additional measures to be taken by the bank?
Merely because you are illiterate does not mean you cannot be granted bank loan
2) agreement can be printed on white paper and later franked forbthe stamp duty payable on the said instrument
A document for the loan is prepared in such a way that it is not creating any kind of doubt that it is altered and changed.
The documents can be prepared on stamp paper and subsequent requirement of papers could be legal paper are in A4 size paper and all the papers to be signed by the borrower.
Being illiterate does not mean that a person can be deprived of his rights definitely can get loan from the Financial Institutions but yes to take help of a litrate person to check the document before he put puts his thumb impression .
Yes it can be printed on stamp paper, or on plain paper and then stamp can be attached to it. Yes bank can go to court based on the agreement if same is signed and notarised.
Yes illeterate porson can avail a bank loan. bank has to write in loan that said agreement was read before and person was made understood before witness all the clauses of such agreement.
You ahve still asked the same question even when I have replied in clear verson.
Yes , illetracy of a person is no barrier to get a loan if his income supports repayment scheme.
1) You have to print documents on legal size green paper.
2) To avail bank loan for illiterate person it's total depends upon his source of income and banks capacity according to their terms & conditions.
The loan agreement cannot be pasted on a NJS paper, it should be typed in the non-judicial stamp paper and signed by the parties to the agreement with witnesses thereof.
You can visit the government websites indicating the the stamp duty for different purposes or visit the registration office in the local to enquire about it in person.
I am not clear. Can a agreement be printed in plain white paper and the first page be pasted in a blank non-judicial stamp paper?
No, it will be invalid and not enforceable in law.
Can a bank go to a court of law based on the stated agreement?
If this agreement is invalid then there is no question of taking any legal action through that to recover the loan amount; The bank will not enter into any such invalid agreement.
I also want to if a illiterate person can avail loan from bank? If so what are the additional measures to be taken by the bank?
Bank are having a set of procedures to be complied by the borrower in this regard, you can peruse the bank laws in this regard