As we are now starting to resume life back to\nnormal in this pandemic, this news might come as a shock to many. The loan\nmoratorium period ends on August 31st, 2020. <\/p>\n\n\n\n
Yes, this began in March 2020 when the pandemic\nforced many to lose their jobs or work on meager salaries. RBI took this step\nto ease the burden on EMI paying individuals by providing a moratorium period\nfrom March to May 2020.<\/p>\n\n\n\n
End of May, seeing that the pandemic was going\nnowhere, they decided to extend the moratorium period from June to August. As\nwe are now just a few days away before the month ends, is there a solution to\nthis major problem?<\/p>\n\n\n\n
The answer is YES!!!<\/p>\n\n\n\n
Although loan moratorium is ending, you can now\nopt for loan restructuring.<\/p>\n\n\n\n
What\nis loan restructuring?<\/strong><\/p>\n\n\n\n Loan restructuring takes place when your Bank\nchanges terms on your loans.<\/p>\n\n\n\n For e.g. When you have a personal loan<\/a>\nand finding it difficult to repay the personal loan. Here you can discuss with\nthe Bank, and they can change the terms on your loan. <\/p>\n\n\n\n Here’s\nwhat can happen when you opt for loan restructuring:<\/strong><\/p>\n\n\n\n 1. Lower interest rate – Banks can reduce the\ninterest rate on your personal\nloan<\/a>.\nDoing this will help you save a lot of interest money and reduce the burden on\nyourself.<\/p>\n\n\n\n 2. Increase the loan tenure – When your Bank is\nnot ready to reduce the interest rate, they can increase your loan tenure. This\nwill automatically reduce your loan EMI and you can then easily pay off the\nloan.<\/p>\n\n\n\n This is the best solution for any individual with\na personal\nloan<\/a>\ntoday. If you wish to know more about personal loans, you can visit the Ruloans\nweb portal and Apply for the best personal loan in\nIndia<\/a>. You can also find the best deals and lowest\ninterest rates on Personal loans in India on our website. <\/p>\n","protected":false},"excerpt":{"rendered":" As we are now starting to resume life back to 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