Re-Structuring of Personal Loans by Indian Bank

 RBI has announced relief measures to the borrowers, who were affected by COVID 19 related stress so that they can either postpone their EMI ( maximum of 24 months )to some extent or re-schedule their repayment, including the options like ballooning repayment, lump-sum payment, bullet payment etc, depending upon their earning capacity / expected income etc.In order to make it easy for it’s borrowers, Indian Bank has provided an exclusive web portal in Bank’s website with effect from 05.10.2020, through which borrower can submit therequests for restructuring their Personal Loans – ie Home Loan & Related Products, Education Loan, Vehicle Loan etc.The requests will be registered with a unique reference number and through SMS, customers will be informed to visit their respective Indian Bank Branches with required documents for completion ofAlternatively, Borrowers (those NOT applied online) can also visit their Indian Bank Branch along with the required documents for considering the restructuring of their Personal Loan Accounts