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    Loan Moratorium Request Letter

    Uploaded by

    Sunny Avlani
    The letter is a request for a loan moratorium from SVC Co-operative Bank due to financial difficulties caused by the COVID-19 pandemic. It requests a three month moratorium on loan repayments and interest payments falling due between June and August 2020, as well as an extension of the loan tenure by three months. The borrower acknowledges that interest will continue to accrue during the moratorium and that repayment of the loan will be rescheduled, with new EMIs payable from September 2020. The borrower agrees to abide by the bank's terms and conditions regarding the moratorium and repayment of the loan after the moratorium period.

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    © All Rights Reserved
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    Loan Moratorium Request Letter

    Uploaded by

    Sunny Avlani
    320 views1 page
    The letter is a request for a loan moratorium from SVC Co-operative Bank due to financial difficulties caused by the COVID-19 pandemic. It requests a three month moratorium on loan repayments and interest payments falling due between June and August 2020, as well as an extension of the loan tenure by three months. The borrower acknowledges that interest will continue to accrue during the moratorium and that repayment of the loan will be rescheduled, with new EMIs payable from September 2020. The borrower agrees to abide by the bank's terms and conditions regarding the moratorium and repayment of the loan after the moratorium period.

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    LoanMoratoriumRequestLetter

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    The letter is a request for a loan moratorium from SVC Co-operative Bank due to financial difficulties caused by the COVID-19 pandemic. It requests a three month moratorium on loan repayments and interest payments falling due between June and August 2020, as well as an extension of the loan tenure by three months. The borrower acknowledges that interest will continue to accrue during the moratorium and that repayment of the loan will be rescheduled, with new EMIs payable from September 2020. The borrower agrees to abide by the bank's terms and conditions regarding the moratorium and repayment of the loan after the moratorium period.

    Copyright:

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

    Loan Moratorium Request Letter

    Uploaded by

    Sunny Avlani
    The letter is a request for a loan moratorium from SVC Co-operative Bank due to financial difficulties caused by the COVID-19 pandemic. It requests a three month moratorium on loan repayments and interest payments falling due between June and August 2020, as well as an extension of the loan tenure by three months. The borrower acknowledges that interest will continue to accrue during the moratorium and that repayment of the loan will be rescheduled, with new EMIs payable from September 2020. The borrower agrees to abide by the bank's terms and conditions regarding the moratorium and repayment of the loan after the moratorium period.

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    © All Rights Reserved
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    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 1st June 2020 to 31st August 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. September 2020.
    In case we/ I have an Overdraft account, we/ I undertake to repay the dues as and when
    payable by us without any default.
    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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