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    Loan Moratorium Request Letter To Banks

    Uploaded by

    Dr. Gollapalli Naresh
    The letter requests a three-month loan moratorium from the bank due to financial difficulties caused by the COVID-19 pandemic. Specifically, it asks the bank to defer loan repayments and interest payments falling due between March and May 2020, and extend the loan tenure by three months. It acknowledges that interest will continue to accrue during the moratorium and provides an undertaking to repay accumulated interest in June 2020 for overdraft accounts. The borrower agrees to abide by the bank's terms and resume regular loan servicing after the moratorium until full repayment.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Loan Moratorium Request Letter To Banks

    Uploaded by

    Dr. Gollapalli Naresh
    6K views1 page
    The letter requests a three-month loan moratorium from the bank due to financial difficulties caused by the COVID-19 pandemic. Specifically, it asks the bank to defer loan repayments and interest payments falling due between March and May 2020, and extend the loan tenure by three months. It acknowledges that interest will continue to accrue during the moratorium and provides an undertaking to repay accumulated interest in June 2020 for overdraft accounts. The borrower agrees to abide by the bank's terms and resume regular loan servicing after the moratorium until full repayment.

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    Covid-19

    Original Title

    Loan Moratorium Request Letter to Banks

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    The letter requests a three-month loan moratorium from the bank due to financial difficulties caused by the COVID-19 pandemic. Specifically, it asks the bank to defer loan repayments and interest payments falling due between March and May 2020, and extend the loan tenure by three months. It acknowledges that interest will continue to accrue during the moratorium and provides an undertaking to repay accumulated interest in June 2020 for overdraft accounts. The borrower agrees to abide by the bank's terms and resume regular loan servicing after the moratorium until full repayment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6K views1 page

    Loan Moratorium Request Letter To Banks

    Uploaded by

    Dr. Gollapalli Naresh
    The letter requests a three-month loan moratorium from the bank due to financial difficulties caused by the COVID-19 pandemic. Specifically, it asks the bank to defer loan repayments and interest payments falling due between March and May 2020, and extend the loan tenure by three months. It acknowledges that interest will continue to accrue during the moratorium and provides an undertaking to repay accumulated interest in June 2020 for overdraft accounts. The borrower agrees to abide by the bank's terms and resume regular loan servicing after the moratorium until full repayment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Loan Moratorium Request Letter

    To, Dated:
    The Branch Manager,
    SVC Co-operative Bank Ltd.,
    ________________ Branch.

    Dear Sir / Madam,


    RE: COVID-19 – Regulatory Package
    Retail Term Loan / Overdraft of Mr/ Mrs/Ms___________________________
    having account no_______________________ with your branch

    We/I have availed the Term Loan /Overdraft of Rs._________ (Rupees __________________ only)
    under Loan Account No. ________ from your Bank. I am paying the Equated Monthly
    Instalment (EMI)of Rs. __________ of aforesaid loan regularly. However, we/ I are /am not
    able to pay the Interest / Principal / EMI due to the impact of the disruptions on account
    of COVID-19 pandemic.
    We/I seek relief in terms of RBI Guidelines issued in this regard and request the Bank to
    grant me a moratorium of three months for payment of all instalments of my aforesaid
    Loan Account that are falling due between March 1, 2020 and May 31, 2020. We/I also
    request the Bank to extend the existing repayment schedule of our/my said loan as also
    the residual tenor, by three months.
    We/I are/am aware that this relief of moratorium is only for postponement of repayment
    of EMI and Interest shall continue to accrue on the outstanding portion of the loan amount
    during the moratorium period. We/I are also aware that the repayment of our Loan will
    be rescheduled/extended by three months and that new EMI (wherever applicable) will
    be payable w.e.f. June 2020.
    In case we/ I have an Overdraft account, we/ I undertake to repay the accumulated
    interest after three months in June 2020.
    We/I are/am willing to abide by all the terms and conditions of the bank in this regard
    and We/ I undertake to regularly service the above debt after the moratorium period
    until full & final repayment of the aforesaid loan.
    We/I also understand that all other Terms and Conditions of sanction letter and security
    documents in respect of the above loan shall remain unchanged and binding on us/me.
    Thanking You
    Yours faithfully,

    Signature/s of the Borrower/s

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