HDFC Bank has stipulated a minimum outstanding balance of Rs 25,000 to consider the credit card or loan outstanding for restructuring under the scheme approved by the Reserve Bank of India (RBI).
The bank has indicated that it may levy a fee if the borrower chooses to restructure the loan. “The customer has to be impacted financially by the Covid-19 pandemic in the form of reduction/ loss of income or cash flows,” the bank said.
According to the bank, the reduction of income and its financial impact on the customer will be reviewed by the bank basis the documents/information provided which does show the drop in cash flow due to the Covid-19 impact. “The bank will assess the viability of the customer to pay the restructured EMIs basis the documents provided, before granting the restructuring,” it said.
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