What does "rescheduling of loan" mean????

What does "rescheduling of loan" mean???? I have taken a PERSONAL loan from QNB and i would like to know anyone used that rescheduling facility for loans with QNB.If so,could you give me the details.??

I have taken 200000 Qr for 4 years(EMI-4700) and now its one year completed.Now The balance comes down to around 150000 Qr.Will QNB allow to reschedule the loan period to 4 years again and fix the EMI FOR 150000 and thus EMI may be reduced to 3700 or like that.?????Please share the details and your experiences...........

Comments

Thanking you all in anticipation
NO, QNB will not allow that. you have to finish the whole loan for 4 years with a QR4700 monthly payment.
Speak to their customer service and even your branch manager ... they should be able to help!
@jiane karyll- Then what is meant by rescheduling of loan?
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