Amidst the unprecedented economic challenges posed by the COVID-19 pandemic, the Reserve Bank of India (RBI) implemented a six-month moratorium period from March to August 2020. This measure was introduced to provide borrowers with temporary relief from loan repayment obligations during the crisis. As the moratorium period has now ended, RBL Bank has established a dedicated helpline to assist customers with loan restructuring and repayment options.
The RBL Bank moratorium helpline is available 24/7 to address customer inquiries and provide guidance on loan restructuring. Customers can contact the helpline through the following channels:
Understanding the financial difficulties faced by many customers, RBL Bank offers a range of loan restructuring options to help alleviate stress and support recovery. These options include:
Not all borrowers are eligible for loan restructuring. To qualify, customers must meet the following criteria:
Customers interested in loan restructuring should contact the RBL Bank moratorium helpline or visit their nearest bank branch. The following documents are typically required for the application process:
To ensure a successful loan restructuring process, borrowers should consider the following strategies:
Pros:
Cons:
Q1: Who is eligible for loan restructuring under the RBL Bank Moratorium Helpline?
A1: Borrowers impacted by COVID-19 who meet certain criteria, such as having a good repayment history and experiencing loss of income.
Q2: What documents are required for the loan restructuring application process?
A2: Income proof, proof of impact from COVID-19, and bank account details.
Q3: How can I contact the RBL Bank moratorium helpline?
A3: By calling 1800 258 5252 or emailing [email protected].
Q4: Are there any fees associated with loan restructuring?
A4: Fees may vary depending on the restructuring option chosen. Customers should contact the bank for more information.
Q5: Can I still access my bank account while my loan is under restructuring?
A5: Yes, you will have access to your bank account, but you may be limited in certain transactions until the restructuring process is complete.
Q6: Will loan restructuring negatively impact my credit score?
A6: Only if payments are missed during the restructuring period. It is important to communicate with the bank and make all agreed-upon payments on time.
If you have been financially impacted by the COVID-19 pandemic and are struggling to repay your RBL Bank loan, do not hesitate to reach out to the moratorium helpline. By exploring loan restructuring options and taking proactive steps to manage your finances, you can mitigate the impact of the crisis and create a path towards financial recovery.
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