Loan Repayment Rules: If you have taken a loan from the bank. And you are facing problem in repaying it on time. Then in such a situation, the bank cannot harass you. Just keep these things in mind.

Money is needed for many things in life. Many times the savings you have are not enough. With which you can do the work you want to do. In such a situation people need to take money from others.

But people do not always need money from people, for this there are many banks. Which gives you a loan as per your need. There are many banks in the market. Where you can apply for a loan.

Many times people take a loan. But are not able to repay it on time. In such a situation, problems arise for people. Many times the bank also harasses the loan holders a lot for not being able to repay the loan on time.

But the loan takers need to know some things. Because if these things are known then the bank cannot harass you. According to RBI rules, the bank cannot harass you to repay the loan by sending recovery agents.

If you are not able to repay the loan on time. Then you can get your loan restructured. That is, the loan which you have taken for 5 years and after a few years you are not able to pay its EMI. Then you can increase the period of that loan. This will reduce your monthly EMI.

Apart from this, if you have lost your job. Or you have suffered a huge loss in business. Then you can settle the loan with the bank. In this, you do not have to pay the full amount but only 10-15% of the loan, although for this you have to prove a solid reason.

Despite this, if the bank harasses you by calling continuously to repay the loan or harasses you by sending recovery agents. Then in such a situation, you can complain about the bank. For this, you can file a complaint with RBI's banking ombudsman or police station.