What does loan rescheduling mean?

Loan rescheduling means a new agreement to modify your repayment plan, such as extending the loan term to reduce your monthly payment or changing the payment schedule.

Steps

1. Its primary benefit is easing your monthly burden, but a lower payment may mean a longer term and a higher overall cost.

2. Before signing, request the new repayment schedule and compare it to the old one: the monthly payment, the number of months, the remaining balance, and the total you will pay.

Source

• Central Bank of Egypt — Central Credit Registry