How can a nominee settle a deceased person’s gold loan?
A had taken a gold loan and passed away. The nominee, B, is living in the USA and holds USA citizenship. The nominee is willing to settle the loan amount and close the gold loan. What would be the solution in this scenario?
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Advocate By LEAD INDIA
Answered: 15 Feb 2025
The nominee can settle the loan on behalf of the deceased, but they may need to provide legal documents, such as a death certificate and their identification proof. The bank or loan institution might require a legal representative to process the settlement. It's advised to consult the bank for specific procedures. For further legal assistance contact us on our helpline number.
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