Credit facility application form icici

Re-structuring of Credit facility(ies) accepted

We refer to your application for restructuring of your Credit facility(ies) with ICICI Bank Limited (“ICICI Bank”), pursuant to RBI’s Resolution Framework for Covid19-related stress, dated May 05, 2021, as may be updated/modified/supplemented from time to time.

We are pleased to inform you that your application for restructuring of the Credit facility(ies) has been accepted by ICICI Bank upon assessment of the documents submitted by you evidencing the financial impact on account of the current Covid-19 pandemic.

We request you to visit the Loan Servicing Branch, opted by you at the time of applying for the restructuring of the Credit facility(ies), to complete the documentation formalities. Please click here to view the list of Loan Servicing Branches. Kindly provide the Service Request (SR) number given to you at the time of applying for the restructuring.

Please read the instructions carefully before visiting the Loan Servicing Branch:

• The details regarding the Credit facility(ies) which have been approved for restructuring can be checked at the Loan Servicing Branch.
• The option to avail of the restructuring of the Credit facility(ies) is a one-time option and no further request(s) for the same will be accepted by ICICI Bank.
• Please collect the Acceptance Letter (“Acceptance Letter”) containing the terms and conditions for restructuring of the Credit facility(ies) from the Loan Servicing Branch.
• Please ensure that all the borrowers (the applicant and all the co-applicants) sign on the Acceptance Letter and the annexures thereto, and the same is submitted at the Loan Servicing Branch.

In case of the following scenarios, a revised Post Dated Cheque (PDC)/National Automated Clearing House (NACH) mandate will be required:

1. In case the mode of repayment of the Credit facility(ies) is Electronic Clearing System (ECS) and the revised Equated Monthly Instalment (EMI) amount post restructuring of the Credit facility(ies) has increased, then the revised NACH mandate will have to be submitted.
2. In case the mode of repayment of the Credit facility(ies) is PDC then a new mode of repayment through either Auto-Debit or ECS (NACH Mandate) will have to be submitted.

Please ensure that all the documents, as may be required by ICICI Bank, are submitted at the Loan Servicing Branch within 10 days from the receipt of this communication. Non receipt of the documents from you within 10 days will lead to the cancellation of your application for the restructuring of the Credit facility(ies) by ICICI Bank and no further requests will be accepted for restructuring of the said Credit facility(ies). We request you to continue making payments towards your existing Loan/Credit facility as per the existing repayment schedule.