DPN Full Form

DPN full form is Demand Promissory Note

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In simple words it is a document taken by the bank when there is no fixed period for the repayment of loan

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In Demand Promissory Note borrower makes a promise to the bank to repay the loan amount

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With agreed rate of interest on demand

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DPN compulsory be stamped as per Indian Stamps Act

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DPN limitation period is 3 years from the date of execution

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It means within 3 years if loan not repaid

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Bank has to get fresh documents for extending the period

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