What is the safest way to lend money with security?
If we want to lend money to someone, what is the safest and most appropriate way to do so? Our shahukaar license is valid, so can we ask for a cheque as security?
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Advocate By LEAD INDIA
Answered: 17 Feb 2025
If you want to lend money, ensure that it is done legally by creating a loan agreement that includes clear terms, interest rates, and a repayment schedule. As a shahukaar, you may ask for security such as a post-dated cheque. However, ensure that the transaction is documented and complies with the relevant laws governing money lending. For further legal assistance contact us on our helpline number.
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