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How loan restructuring scheme can impact your finances: Things to know

The accumulated interest will increase the principal and you will have to pay a higher interest rate on it

Topics
Debt recast | debt restructuring scheme | sbi

Sanjay Kumar Singh  |  New Delhi 



loans
Only accounts that existed in banks’ books on March 1, 2020 will be eligible for restructuring. | Imaging: Ajay Mohanty

Two banks — State Bank of India and — have so far published their frameworks for restructuring . One key difference that borrowers need to bear in mind is that while in the first phase of the moratorium (March-August), the interest rate remained the same, this time the moratorium could come with a cost attached.

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First Published: Thu, September 24 2020. 20:19 IST

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