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| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 49,005 | ₹ 3,189 | ₹ 52,194 | ₹ 50,995 | 49.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
| ₹ 50,997 | ₹ 1,197 | ₹ 52,194 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
Explore Your Options
If you think that the best way to handle your debt is to retain a lawyer and file for bankruptcy, you might still save yourself some money by restructuring your loan instead of filing for bankruptcy. Restructuring a loan is a term used to describe a process of debt reduction through negotiation with creditors and sponsors to save businesses from bankruptcy. This can be done by extending the due date for payment or reducing the interest rate by offering collateral co-signed with an existing party.
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
Restructuring of a loan is the process of altering the terms and conditions of a loan agreement between a borrower and lender. It is usually done when the borrower is facing financial difficulties and is unable to repay the loan according to the original repayment schedule. Restructuring the loan can help the borrower by making the repayments more affordable and sustainable, and can also benefit the lender by reducing the risk of loan default
The process of loan restructuring can involve any of the following actions:
Loan restructuring is a negotiated process between the borrower and lender, and the terms of the restructuring are based on the borrower's financial situation and the lender's policies. The terms of loan restructuring can vary depending on the lender and the borrower's circumstances. It is important to note that restructuring a loan can have an impact on the borrower's credit score and history, so it is important to carefully consider the options and seek professional advice before proceeding with loan restructuring.
Note: The eligibility and documents required for loan restructuring may vary depending on the lender and the type of loan.
PAN Card
Aadhaar Card
driving license
Voter ID
Note: It is important to note that the exact documents required for loan restructuring may vary depending on the lender and the type of loan. Borrowers are advised to check with their lender for the specific requirements and eligibility criteria for loan restructuring. It is also advisable to consult with a financial expert or an advisor before proceeding with the loan restructuring process.
The eligibility criteria for loan restructuring may vary depending on the lender and the type of loan. However, generally, the borrower should have a valid reason for loan restructuring, a good track record of repaying the loan until the restructuring request, and the loan should not be classified as a non-performing asset (NPA).
The documents required for loan restructuring may vary depending on the lender and the type of loan. Generally, the borrower may be required to provide documents such as loan account statement for the last 12 months, latest income and expenditure statement, proof of income such as salary slips or income tax returns, bank statements for the last 6 months, KYC documents such as identity proof, address proof, and PAN card, and application for restructuring of the loan
Generally, most types of loans can be restructured, including personal loans, home loans, car loans, business loans, and others. However, the eligibility and criteria for loan restructuring may vary depending on the lender and the type of loan.
Yes, loan restructuring can have an impact on the borrower's credit score and history. The extent of the impact may depend on the specific terms and conditions of the loan restructuring. However, it is important to note that timely payment of the restructured loan installments can help improve the borrower's credit score.
The loan restructuring process may take anywhere from a few days to several weeks, depending on the lender and the type of loan. It may also depend on the complexity of the restructuring and the documentation requirements.
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