Eligibility, required documents and how to apply


ICICI Bank is offering a moratorium of up to two years to retail borrowers under the loan restructuring program approved by the Reserve Bank of India (RBI). Those who have opted for credit card loans or IMEs will also be able to apply for a one-time loan restructuring option. According to the FAQs posted by the bank on its website, a person must meet the eligibility criteria to apply under the restructuring plan authorized by RBI. The deadline for requesting loan restructuring is December 18, 2020.


  • Credit facilities from individuals and entities which are classified as “standard account” and are not in default for more than 30 days as of March 1, 2020.
  • The credit facilities should continue to be classified as a “standard account” until the date of invocation of the restructuring request. The invocation date is the date on which the borrower and ICICI Bank agree to implement the resolution plan.
  • Borrower’s cash flow / income must be affected by reduced income or loss of job / income due to the ongoing coronavirus pandemic. The Bank will consider the impact on the borrower’s cash flow / income based on the documentation and information submitted.

How to Get the Loan Restructuring Benefit

Borrowers can use any of the following channels to request restructuring of their credit facilities;

  • Apply online at www.icicibank.com. A one-time password (OTP) will be generated during the online application process. The OTP will be sent to the borrower’s mobile phone number and e-mail ID as registered with the Bank. Therefore, borrowers should ensure that their correct cell phone number and email address are registered with the bank.
  • Visit the nearest loan service branch of ICICI Bank.
  • Contact your Relationship Manager (RM)

Required documents

For Employee

Salary slips updated from January 2020

Updated January 2020 bank statement for the account to which the salary is credited

Proof of loss of employment from previous employer (in case of loss of employment)

The client’s declaration of current unemployment, due to job loss (in the event of job loss)

For the self-employed

Bank statements for the past 12 months as well as income documents, if applicable

GST declarations for the first semester of fiscal 2020 and the first semester of fiscal 2021

What types of credit facilities are eligible for restructuring?

Loans to individuals

1) Consumer loans such as outstanding credit cards, Car loans (excluding loans for professional use), Secure personal loans (excluding loans for professional use), Personal loans to professionals (excluding loans for professional use)

2) Home loans

3) Student loans

4) Loans taken out by clients for investment in financial assets (shares, etc.)

Would additional interest be charged for the restructuring of the credit facility?

Yes, additional interest will be charged on the credit facilities that will be restructured.

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