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Power of Attorney

Last updated: July 5 2013
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  • Power of Attorney

    Hi All,

    I am planing to take home loan from a private bank and bank is yet to be decided.i would like to give POA to my father.I heard that each bank has its own POA format.do i need to decide bank nowitself to use its own POA format or can i give general POA to my father?

    Will general POA accepted by all banks?Please advice.

    Thanks
  • #2

    #2

    Re : Power of Attorney

    This was applicable to all the banks few years back, but now a days many banks have stoped POA process including HDFC, that is what I have been told during my last RE transaction.

    And yes the banks who except POA they have their own format of POA which needs to be executed.

    Originally posted by houseseeker View Post
    Hi All,

    I am planing to take home loan from a private bank and bank is yet to be decided.i would like to give POA to my father.I heard that each bank has its own POA format.do i need to decide bank nowitself to use its own POA format or can i give general POA to my father?

    Will general POA accepted by all banks?Please advice.

    Thanks

    Comment

    • #3

      #3

      Re : Power of Attorney

      Thank you himrathore!

      Originally posted by himrathore View Post
      This was applicable to all the banks few years back, but now a days many banks have stoped POA process including HDFC, that is what I have been told during my last RE transaction.

      And yes the banks who except POA they have their own format of POA which needs to be executed.

      Comment

      • #4

        #4

        Re : Power of Attorney

        Banks still accept POAs, but only in their format. You can check in respective bank website for the POA format, as it differs from bank to bank

        Comment

        • #5

          #5

          Re : Power of Attorney

          I am sure of HDFC not accepting POAs lately, not sure of any other bank though.

          Originally posted by landie View Post
          Banks still accept POAs, but only in their format. You can check in respective bank website for the POA format, as it differs from bank to bank

          Comment

          • #6

            #6

            Re : Power of Attorney

            In case of NRIs they still do that, they have it on their site as well.

            Sent from my Windows 8 device using Board Express

            Comment

            • #7

              #7

              Re : Power of Attorney

              Might be true as I checked for non NRI

              Originally posted by mittal_mudit View Post
              In case of NRIs they still do that, they have it on their site as well.

              Sent from my Windows 8 device using Board Express

              Comment

              Tags: attorney power
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