अधिस्थगन संपल्यानंतर पर्सनल लोन कर्जदार लोन कसे रिस्ट्रक्चर करू शकतात

जेव्हा मॉरेटोरियम कालावधी समाप्त होतो, तेव्हा अनेक कर्जदार EMI पेमेंट रिस्टार्ट करण्यासाठी संघर्ष करतात, ज्यामुळे पर्सनल लोन रिस्ट्रक्चरिंग करण्याचा महत्त्वाचा पर्याय विचारात घेता येतो. भारतातील लेंडर डिफॉल्ट न करता कस्टमरला फायनान्शियल स्थिरता पुन्हा प्राप्त करण्यास मदत करण्यासाठी लवचिक उपाय ऑफर करतात.

विस्तारित कालावधी किंवा सुधारित ईएमआय सारख्या पर्यायांद्वारे पर्सनल लोन रिपेमेंट कशी पुनर्रचना करावी हे समजून घेणे मासिक दायित्व सुलभ करू शकते आणि क्रेडिट स्कोअर संरक्षित करू शकते. पर्सनल लोनच्या अटींची पुनर्रचना लेंडरनुसार बदलते, परंतु बहुतांश ला फायनान्शियल तणावाचा पुरावा आणि औपचारिक विनंतीची आवश्यकता असते. सर्वात योग्य योजना निवडण्यासाठी आणि अधिस्थगन नंतर तुमचे फायनान्स अधिक आत्मविश्वासाने मॅनेज करण्यासाठी हे पर्याय जाणून घेणे महत्त्वाचे आहे.

लोन अधिस्थगन समजून घेणे: संक्षिप्त रेकॉर्ड

Let’s go back to the 1st of March 2020. A time of financial hardship caused by the pandemic was beginning the world over. The Reserve Bank of India came to the rescue of Indian borrowers by declaring a loan moratorium or an EMI holiday. With proof of financial stress, a borrower could choose not to pay their loan EMIs during the announced period. This brought stability to credit flows, providing borrowers with much-needed financial relief.

The loan moratorium period initially spanned three months, between March and May, 2020. On May 22, 2020, the moratorium window was extended to August. The program was implemented by banks and non-banking finance companies across the country, covering various retail loan types. Personal Loan fell into the moratorium category of standard term loans, along with Auto Loan, Education Loan, Home Loan, and Loan against Property.

This EMI holiday came to an end on 31st August 2020. After the end of the moratorium window, regular repayment schedules were back in place. Interest was accrued over this period, and loans were adjusted with extended tenures and altered EMIs.

तसेच, वाचा – लोन रिस्ट्रक्चरिंग 2.0: तुम्हाला माहित असावे असे सर्वकाही

पर्सनल लोन रिस्ट्रक्चरिंग म्हणजे काय?

Personal loan restructuring is a relief measure that helps borrowers modify their existing loan terms when they face financial stress. Instead of defaulting, borrowers can request changes such as extending the tenure, reducing EMIs, or opting for temporary payment breaks. This process allows individuals to regain control over repayments without damaging their credit profile. The restructuring is typically offered to borrowers who can prove a drop in income or financial hardship. By adjusting the original loan agreement, lenders make repayment more manageable, giving borrowers time to stabilise their finances while keeping the loan active and compliant.

तसेच, वाचा – लोन रिस्ट्रक्चरिंगसाठी अप्लाय करताना विचारात घेण्याचे प्रमुख मुद्दे

Key Benefits of Personal Loan Restructuring

Providing financial relief is the primary advantage of restructuring a personal loan.

Let’s look at a few more benefits of loan restructuring:

• Personal loan restructuring makes repayment easier. This is implemented by extending the tenure of the loan or lowering the interest rate.
• By making the repayment manageable, the borrower can avoid loan defaults. Loan restructuring can thus protect the borrower’s credit score from long-term damage.
• Restructuring helps the borrower avoid legal actions and heavy penalties.
• When facing the financial pressure of job loss, reduced income, or a medical crisis, personal loan restructuring can provide quick financial relief.
• Loan restructuring is beneficial for the lender’s interests as well, letting them recover outstanding dues.

Step-by-Step Process for Restructuring Your Personal Loan

Understanding how to apply for loan restructuring can be helpful for achieving financial stability.

Follow these steps to restructure a personal loan:

1. Assess Financial Situation

Begin with a review of your income, expenses, and debts.

2. Contact Your Lender

Reach out to your lender and provide an overview of your financial situation. Ask about their personal loan restructuring process.

3. Submit a Restructuring Request

Provide the lender with a restructuring request, including supporting documents such as salary slips, bank statements, or tax returns.

4. Review and Finalise

Clarify your options with the lender. They may provide interest rate reductions and tenure extensions. Determine which option fits your situation the best.Formalise the agreement, and follow the repayment plan diligently.

तसेच, वाचा – लोन पुनर्रचना समजून घेणे: प्रक्रिया आणि लाभ

Loan Restructuring vs. Moratorium: Key Differences

A loan moratorium is not only a time when EMIs do not have to be paid. It is also when unpaid EMIs accrue, to become payable later. It implies that the payable interest amount on the initial principle continues to pile up during the period of the EMI holiday. Then the EMIs become payable with the usual terms after the moratorium. In other words, it’s business as usual after the moratorium. However, it may not be business as usual for the borrower. He may still be facing a financial crunch. That’s where loan restructuring becomes useful as it allows some modification in terms of the personal loan, agreeable to both borrower and lender. It spells relief for the borrowers continuing to experience financial stress. After restructuring, EMIs continue to be paid as before with some allowances, such as a reduction of interest burden or an increase in the tenure of the loan. The whole purpose behind this is that the borrower, under no circumstances, should not struggle to make ends meet on account of paying the EMI. In a way, loan restructuring arrives before the borrower as the logical next step after a loan moratorium. It’s a win-win for the borrower as well as the lender. While the borrower ends up negotiating an EMI manageable for them to pay, restructuring loans allows banks to keep NPAs or non-performing assets in check.

Loan Restructuring: Options and Alternatives

जेव्हा RBI ने लोन अधिस्थगन सुरू केले तेव्हा विशेषत: नमूद केले गेले होते की EMI हॉलिडे निवडणाऱ्यांसाठी, प्रिन्सिपल वरील व्याज रक्कम स्कीमच्या आयुष्यात जमा होणे सुरू राहील. विलंबित करता येणारे लागू प्रकारचे पेमेंट म्हणजे बुलेट पेमेंट, क्रेडिट कार्ड पेमेंट, प्रिन्सिपल आणि व्याज पेमेंट आणि EMI. आरबीआयने पुढे सांगितले की विलंबित पेमेंटला फौजदारी गुन्हा मानले जाणार नाही किंवा ते कर्जदाराच्या CIBIL रेटिंगवर परिणाम करणार नाहीत. परंतु पेमेंट न करताना, त्यांचे व्याज शुल्क वाढेल, अशा प्रकारे, काही प्रकरणांमध्ये, त्यांच्या लोनची पुनर्रचना आवश्यक असेल.

लोन पुनर्रचनेसाठी पर्यायी मार्ग

• कर्जदार बल्क पेमेंटद्वारे जमा व्याज भरण्याचा पर्याय निवडू शकतो.
• कर्जदाराला EMI पेमेंटची रक्कम वाढवायची असू शकते. कालावधी स्थिर ठेवून आणि थकित लोन रकमेमध्ये न भरलेले EMI जोडून हे केले जाऊ शकते
• कर्जदाराला EMI अपरिवर्तित ठेवायचे आहे परंतु देय लोन रकमेमध्ये देय EMI जोडून कालावधी वाढवायचा आहे.

पर्सनल लोन पुनर्रचना लोन कसे परवडणारे बनवते

This is accomplished in one or more of the following ways:

• When the repayment term is extended, increasing the tenure would reduce the borrower’s month-to-month burden and ensure he can make his ends meet despite the EMI payments.
• Reducing the interest rate: this reduces the interest component of the payback to the lender, spelling a relief to the borrower.
• Reducing the remaining balance: in this case, computation of interest is done based on the monthly reducing balance method – where there is a reduction of the principal portion and interest is calculated based on the reduced outstanding.
• The past due amounts are added to the unpaid principal, and then either the interest rate, tenure, or the EMI is altered.

Eligibility Criteria for Personal Loan Restructuring

Understanding personal loan restructuring eligibility is important for borrowers facing genuine financial stress. Lenders allow restructuring only when the borrower can demonstrate a clear loss of income, job disruption, medical emergency, or any situation that affects repayment capacity.

To determine who can restructure personal loan terms, lenders typically review recent bank statements, income documents, and credit history. Borrowers must also have a good repayment record before the hardship began, as past defaults may reduce approval chances. Those meeting these conditions can request revised EMIs, extended tenure, or temporary relief, helping them manage repayments more comfortably during challenging periods.

तसेच, वाचा – होम लोन रिस्ट्रक्चरिंगचे फायदे आणि तोटे

Impact of Personal Loan Restructuring on Your Credit Score

Loan restructuring can provide financial relief, but it does affect your loan restructuring credit score.

Here is how restructuring affects CIBIL score. Lenders and credit bureaus may flag restructured loans on credit reports, which can lead to a temporary drop in the score. Restructured loans may be labelled “restructured” or “settled,” by credit bureaus, which can imply financial instability to future lenders.

The negative impact of loan restructuring is less than that of a loan default, however. Making timely repayments after restructuring your loan can rebuild your credit score over time.

Common Mistakes to Avoid When Restructuring Your Loan

Let’s look at the most common loan restructuring mistakes:

• Waiting too long before restructuring of personal loan can both harm your CIBIL score and limit restructuring options.
• Not assessing your repayment capacity before the restructuring can damage your long-term finances.
• Restructuring without accounting for additional charges can hurt your ability to make repayments.
• Not being aware of the impact on your credit score can affect your borrowing capacity in the future.
• Missing payments after restructuring can create further financial stress.

Knowing what not to do in loan restructuring will help you manage your finances effectively.

Is Personal Loan Restructuring Right for You?

If you’re wondering “should I restructure my personal loan”, here are situations where you should consider restructuring:

• If financial pressures are making regular repayments towards the loan difficult.
• If rising interest rates and cash flow problems are affecting your repayment ability.
• If you are at risk of a loan default.
• If you have experienced sudden job loss, reduced income, or unexpected expenses such as medical bills.
• If your business is expanding and needs repayment flexibility.

Restructuring at the right time can help you deal with economic uncertainty and short-term financial stressors. Knowing when to restructure a personal loan allows you to work towards financial stability effectively.

सारांश देण्यासाठी

It was to identify the stressed loans and help out the borrowers of such loans that the Reserve Bank of India introduced the moratorium on term loans. However, after the moratorium ended, some borrowers still felt distressed. For them, the need was to restructure the loan post the moratorium period, which the RBI recommended, again to help borrowers and keep banks’ NPAs, or non-performing assets, in check.

During the moratorium, the borrower is on an EMI holiday, but the loan interest continues accumulating and is added to the principal. Therefore, for the situation after the moratorium, the RBI introduced the loan restructuring scheme for the still stressed borrowers. In the case of loan restructuring, the objective is to make the loan affordable for the borrower by reworking the terms: increase the tenure of the loan to reduce the EMI; charge interest for fewer than applicable months; or reduce the interest component of the loan.

If you are short of funds, avail of Personal Loan Restructuring from Tata Capital. You can also use our Instant Personal Loan App to quickly apply for a loan with ease.