If you ever bought a phone on EMI, this RBI rule is worth knowing cold. Lenders used to be able to remotely lock your device the moment you missed a payment — now they legally cannot do that until your account is 30 days overdue. And if they lock it before that, or take too long to restore access, you are owed ₹250 for every hour your phone stays locked.
What this means for you
- Missed one EMI this month? Your phone is safe for at least 30 days — no lender can remotely lock it before that deadline.
- If a lender locks your device illegally, you can claim ₹250/hour in compensation — save screenshots with timestamps as proof.
- This covers device loans and any loan where your phone is tied to the agreement as security.
What you can do
- Save RBI's Sachet portal (sachet.rbi.org.in) in your bookmarks — if your phone gets locked unfairly, that is where you file a complaint and claim your ₹250/hour.
- If you have a device EMI running right now, check your loan agreement for any remote-lock clause — it cannot legally be used before Day 30.
You do not have to accept aggressive recovery tactics. The rules are firmly on your side now.
Grow with clarity 🌱