Bank loan settlement

My father had taken a loan from a private bank in Sep. 2015 for five year term (60 installments) amount of which is Rs. 2500000 . Unfortunately my father had passed away due to kidney failure. After some days my mother also passes away. I came to know about the loan through my relatives. My father had paid 18 installments (each of 64751) and could not pay the rest due to financial hardship and ill health. The loan was on a piece of land which my father had mortgaged with the bank. Despite of all the hardships, on the recommendation of a family member , I decided to pay the loan. I went to the bank asking for settlement and some relaxation. Now the outstanding amount is Rs.2955000 (even though my father paid 18 intallments of 64571 each) which include a lot of penalties. I told them that I would pay them overdue instalments and remaining 20 instalments I will pay in the same manner as my father should have paid. I only asked them to remove penalties but they are not ready. They said that give us the outstanding amount or possession of property. Sir/Ma'am , I have already spent a lot of money on my parents medical treatment. I don't have this much money but the bank is not listening. Pls help