18/1/2026, 7:18:01 pm

Reversing a personal loan: Cooling-off period rules explained

Borrowers in India can cancel personal loans during a "cooling-off" period, usually ranging from 3 to 15 days after approval or disbursal. This window lets borrowers rethink their decision, cancel the loan with minimal cost, and avoid penalties. The loan must be active to cancel, not just repay. Lender policies vary, and loan agreements should be closely read before signing or accepting disbursal.