Can I withdraw one year old letter of guarantee

[samkapoor77]

A year back, I signed letter of guarantee for my old friend’s top up home loan with Punjab National Bank. I have enclosed my bank’s statement with the letter. Due to certain issues, I want to withdraw my guarantee. Is it possible, if yes then what is the procedure? Moreover, my friend has arranged some other guarantor. Please guide

[samkapoor77]

Yes, you can. Contact the home loan serving branch of Punjab National Bank, inform them in writing. Upon completion of some paper work, they will substitute the guarantee to another person.

[Author]

Posts