The amount will be converted into a separate loan account.
Apart from the viability calculations, the repayment track record of the customer will also be checked.Ĭustomer will have an option to restructure the entire credit card balance including the loans within the credit limit. The bank will assess the viability of the customer to pay the restructured EMIs as well. Customers need to submit necessary documents or information to the bank to apply for loan recast.
However, the bank will review the financial impact of coronavirus on customers before granting the restructuring. Those who have affected by COVID-19 pandemic will be eligible for the scheme.
