Get Moratorium Request Letter To Bank Manager

This guide provides a step-by-step approach to completing the Moratorium Request Letter to your bank manager efficiently. Whether you are seeking a temporary relief from loan repayments or need to address other banking concerns, this document is crucial in expressing your request clearly.

Follow the steps to complete your request letter with ease.

1. Press the ‘Get Form’ button to access the Moratorium Request Letter form and open it in your chosen editor.
2. Begin by entering the bank manager's title and the full name of the bank branch at the top of the letter. Ensure that the correct branch name is used to avoid any processing delays.
3. Next, fill in the date on which you are submitting the letter. This should be positioned directly below the bank's address.
4. In the subject line, mention the regulatory package related to COVID-19 along with the type of loan you are referring to. Include your full name or the name of the entity that holds the account.
5. State your account number clearly and accurately. This information is essential for the bank to identify your loan facility.
6. Detail the loan amount you have availed, being sure to write both the figures and the amount in words for clarity.
7. Indicate your current repayment status by mentioning your Equated Monthly Installment (EMI) and any interest payments you have been making on your working capital limits.
8. Explain the impact of the COVID-19 pandemic on your repayment capacity, clearly stating that you are unable to service your loan installments at this time.
9. Formally request the bank for a moratorium on your loan repayments for the specified period and ask for a deferment on interest charged, specifying the duration.
10. Acknowledge the nature of the moratorium as a postponement rather than a waiver, and state your understanding that interest will continue to accrue during this period.
11. Agree to the terms and conditions as outlined by the bank for services extended during the moratorium period.
12. End the letter with a polite closing remark, followed by your name and signature. If applicable, include your mobile number for any necessary communication.

Complete your moratorium request letter online today and ensure timely support for your financial needs.