Need A Financial Product Forums Loans Will a default on car loan affect home loan eligibility

This topic contains 1 reply, has 2 voices, and was last updated by  Paresh Joshi 2 years ago.

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  • #48398

    Paresh Joshi
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    I had taken car loan from ICICI Bank. Meanwhile my company transferred me to USA. I couldn’t get time to settle things here. I am back after 3 years. I want to apply for home loan. After seeing CIBIL report, I realized that I forgot to pay Rs. 15,000 on car loan which has now grown to Rs. 54,000. Should I settle my account with ICICI Bank in between to avoid any negative impact?

    #48399

    Settling your loan will still put a negative mark in your credit history. To avoid negative impact in your home loan, repay the amount in full.

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