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Request Deferral of Loan Instalment Payment

The customer is requesting the bank to defer their loan installment payments for 3 months from April to June 2020 due to cash flow problems caused by the Corona Pandemic. They refer to the RBI allowing banks to offer a 3 month moratorium on term loan repayments. Deferring the payments will help the customer maintain sufficient working capital for operational requirements during this difficult time period.

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Nagaraju Lanka
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1K views2 pages

Request Deferral of Loan Instalment Payment

The customer is requesting the bank to defer their loan installment payments for 3 months from April to June 2020 due to cash flow problems caused by the Corona Pandemic. They refer to the RBI allowing banks to offer a 3 month moratorium on term loan repayments. Deferring the payments will help the customer maintain sufficient working capital for operational requirements during this difficult time period.

Uploaded by

Nagaraju Lanka
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Request Deferral of Loan Instalment Payment

2020, March 27
 
 
[NAME, BANK AND ADDRESS, ex.
ABC Bank
123 Lane
Area 456
City, State, Pin Code]
 
Dear Sir/Madam,

Re: Deferment of Instalment Due in Loan Account No. 123456789 for the month of April,
May & June, 2020.
Customer ID/Name:
 
We refer to our term loan in the amount of approximately [AMOUNT OF LOAN, ex.
INR45,000] bearing account no. [ACCOUNT NO. OF LOAN, ex. 987654321].
 
We are experiencing some unavoidable cash flow problems because of Corona Pandemic,
which we feel will temporarily set us back for at-least three months. 

We refer to RBI Press Conference on 27/03/2020, where they have permitted respective
Banks/NBFCs to allow a moratorium of 3 months for repayment of term loans.

We would like to request that if possible and you could defer instalment on our loan for this
period i.e. April-June/2020, so that we can maintain sufficient working capital to meet our
operational requirements.
 
Thank you in advance for your anticipated co-operation.
For any queries, please feel free to contact me directly.
 
Yours faithfully,
 
 
[Your Name, ex. CA.Sandesh Desai]

Request Deferral of Interest Payment


 
2020, March 27
 
 
[NAME, BANK AND ADDRESS, ex.
ABC Bank
123 Lane
Area 456
City, State, Pin Code]
 
Dear Sir/Madam,

Re: Deferment of Interest Due in Loan Account No. 123456789 for the month of April, May
& June, 2020.
Customer ID/Name:
 
We refer to our above referred loan bearing account no. [ACCOUNT NO. OF LOAN, ex.
987654321].
 
We are experiencing some unavoidable cash flow problems because of Corona Pandemic,
which we feel will temporarily set us back for at-least three months. 

We refer to RBI Press Conference on 27/03/2020, where they have permitted respective
Banks/NBFCs to allow a moratorium of 3 months for repayment of term loans.

We would like to request that if possible and you could defer the interest on our above
referred loan for this period i.e. April-June/2020, so that we can maintain sufficient working
capital to meet our operational requirements.
 
Thank you in advance for your anticipated co-operation.
For any queries, please feel free to contact me directly.
 
Yours faithfully,
 
 
[Your Name, ex. CA.Sandesh Desai]

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