Under the Limitation Act, 1963, a suit to RECOVER MONEY borrowed on a simple oral or written loan (a money claim not governed by a longer specific Article) must, as a rule, be filed within:

A suit for money lent and advanced, or for a money debt, is generally governed by the three-year period prescribed (Article 19 or 55, as applicable, for money lent and debt-recovery claims), computed from the date when the right to sue accrues. The general three-year rule applies to most money claims; longer periods (e.g. twelve years) are reserved for suits relating to immovable property or mortgage enforcement. Failing to sue within the period bars the suit under Section 3. The three-year rule for money debts is a fundamental Limitation-Act point.