APPLY FOR MORATORIUM

You may apply for a moratorium on your loans/ credit cards/ credit facilities with ICICI Bank. In case you choose a moratorium, the instalments and payments due on your loans/ credit cards/ credit facilities for the month of July 2020 will be postponed. Please note that the interest (on the outstanding principal and interest thereon) will continue to accrue during the moratorium period and the tenure of the loan will increase.


For working capital facilities, the Bank is pleased to provide an option to postpone the interest payable during the month of July 2020. Interest on the outstanding amount of the facilities availed shall continue to accrue during this period and the accumulated accrued interest shall be payable immediately after the completion of the moratorium period.


Points to Note:

  • At present you can apply for a moratorium for the month of July 2020 and this application can be made before July 24, 2020. If you wish to avail a moratorium for the month of August 2020, you will need to re-apply here on the website and the Bank will notify regarding the same.
  • You need to submit your moratorium request at least 5 working days before your EMI/ payment due date. If you submit the request in less than 5 working days from your EMI/ payment due date or after the EMI/ payment due date has passed, then the EMI/ payment may be debited. In such cases, the refund of EMI/ payment (if debited) shall be processed within the next 7 working days.
  • A single entry is saved under each type of loan/credit card/ credit facility/ working capital. For multiple entries under the same type of loan/ credit card/ credit facility/ working capital, you will need to submit the current application and then initiate another application. For example, if you have two Personal Loans and you wish to apply for a moratorium for both of them, then you will need to apply for one of the two loans at a time. For moratorium on the other loan, you will have to initiate another application.

Moratorium Educational Video

EMI Moratorium Calculator

Select your product type:
i
Current Outstanding Loan Amount (₹)
The value entered must be a number that is greater than or equal to ₹ 25,000 and less than or equal to ₹ 10,00,00,000.
Existing EMI
The value entered must be a number that is greater than or equal to ₹ 1,000 and less than or equal to ₹ 20,00,000.
Interest Rate (%)
The value entered must be a number that is greater than or equal to 7.5% and less than or equal to 24%.
Latest Statement Balance (₹)
The value entered must be a number that is greater than or equal to ₹ 0 and less than or equal to ₹ 20,00,000.
Interest Rate (% per month) 3.4%
Moratorium Period Required (maximum 6 months)

Results

Original Tenure
Revised Tenure
Increase in Tenure
Increase in Amount Payable
Original Outstanding
Additional Interest
Revised Outstanding
@ the current EMI of ₹

Disclaimer

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Instructions:

1. Use the above fields to input your a) outstanding principal, b) current interest rate and c) current EMI.
2. Select the number of months for which moratorium is required.

The results panel will display current remaining tenure as per the input values, and the revised tenure post moratorium.
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Disclaimers:

1. Please note that the above table is for illustration purpose only. For your Credit Card account statement date, payment date, contracted interest rate, transaction dates and due amount, kindly check your Credit Card statement.

2. Kindly note the interest provided can vary and will be dependent on the transaction dates, payment dates and contracted interest rates. Kindly refer credit cards MITC for calculation of charges
https://www.icicibank.com/managed-assets/docs/personal/cards/credit-cards/MITC_cc.pdf

3. Please note that interest will also be charged on any additional spend or any existing EMIs active on the credit card account.