Got a personal loan approved but having second thoughts? What India’s cooling-off rules mean for borrowers - Personal loan got approved? You may still back out

Not sure about that personal loan you just took? In India, many borrowers get a short cooling off period a legal window to cancel the loan with minimal cost. This grace period, often 7 to 14 days under RBI guidelines, lets you rethink without heavy penalties. Just notify the lender in writing during this time to exit cleanly and save on interest. Personal loan got approved? You may still back out