Loan "Write off" & Loan "Waive off" Meaning PDF Download In English & Hindi.
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WRITTEN-OFF AMOUNT (PRINCIPAL):- This field reflects the principal amount written off by the lender. It follows that the difference between the total and principal written-off amounts is the interest amount that has been written off on this account.
WRITTEN-OFF AMOUNT (TOTAL):- When a loan is written off there is an interest and principal component. This field reflects the total interest and principal amount written-off.
WRITTEN-OFF AND SETTLED STATUS:- If this section is populated, the lender has either restructured your loan by offering you different terms (extended the loan tenure or reduced the interest rate. etc) written-off this amount or settled at some amount less than what the lender believes it was owed. The possible values are as follows:
Restructured Loan (Govt Mandated)
Post (WO) Settled.