Loan Restructuring: Check Eligibility, Docs & Charges for your Bank

Updated on: 19 Jan 2024 // 5 min read // #mmm news
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On August 6, 2020 the Reserve Bank of India (RBI) announced one-time loan restructuring option for companies and individuals severely impacted by COVID 19 pandemic. Furthermore, the RBI stated that the intent for the resolution is to mitigate the financial limitations imposed by pandemic on various sectors. The lender will help individuals and businesses restore their financial capabilities gradually by extending the repayment tenor for up to two years & not changing the account status as NPA.

The central bank also announced formation of an expert committee headed by former ICICI Bank CEO KV Kamath to share details for restructuring of commercial loans of Rs 1,500 crore and above. The committee identified 26 most affected sectors needing immediate credit relief. As for Personal Loans, including Home Loans, Education Loans, Auto Loans etc each bank was directed to share the board approved resolution framework and FAQs for customers.

MyMoneyMantra has compiled a borrower friendly bank-wise guide for loan restructuring, along with details on eligibility, documents and charges applicable across the products including & not limited to Home Loans, Personal Loans, Working Capital Loans, Credit Cards, Education Loans, Auto Loans and Corporate Loans.

1. SBI

State Bank of India is the largest public sector lender of the country. The bank has launched a portal for its customers looking out for restructuring benefit. In order to extend maximum repayment support the bank has also shared 2 year Moratorium option to SBI customers. The lender has released separate guidelines for personal loans and non personal finance segment of loans. The last date to apply for restructuring of Personal Loans and Credit Cards is December 31, 2020. As for Commercial Loans, the last dates are November 15 and November 30, 2020 as per the category of loan.

Check following links for details:

Restructurings of SBI Personal Loans

SBI’s Moratorium/Restructuring Resolution Framework for Personal Loans, Home Loans & Business Loans.

Restructurings of SBI Credit Card

SBI’s Moratorium/Restructuring Resolution Framework for Credit Cards


HDFC Bank has shared detailed guidelines on restructuring option for up to 24 months. The customers can apply for extension of tenor for up to 24 months and ease the EMI. All customers whose income is impacted due to COVID 19 can opt for loan restructuring. The customer can apply online or contact the relationship manager to request for the repayment relief.

Check details of HDFC’s restructuring framework here: HDFC Bank Shares Restructuring FAQs & One-Time Interest Payment Option After Moratorium

3. ICICI Bank

ICICI Bank has also released detailed restructuring guidelines for stressed customers of Personal Loans, Home Loans, Auto Loans, Credit Card Outstanding, and Working Capital Credit Facilities. The application for restructuring can be sent through bank’s website or by visiting any of the branches. The last date for submission of request form is December 18, 2020. The lender has also shared list of documents required to be attached along the application.

Check details of ICICI Bank’s restructuring facility for individuals and corporates affected due to pandemic here: ICICI Festival Bonanza: Best Personal, Home & Auto Loan Offers

4. Axis Bank

In accordance with RBI’s restructuring guidelines for stressed individual and business loan accounts, Axis Bank has released its guidelines on website. The bank has uploaded a restructuring form for salaried individuals. The bank has also shared eligibility criteria and list of documents required to be uploaded with the restructuring application. After filling the form the customer needs to submit the form and documents to the bank.


To cope up with the economic fallout and the financial stress caused by extended lockdown due to the COVID-19 pandemic, the Reserve Bank of India (RBI) has issued a circular providing a framework to banks and lending institutions under which loans provided to individuals for their personal consumption and business entities for their business needs can be restructured. This restructuring policy will be applicable only to individuals and entities that have been affected due to the COVID-19 pandemic.

The IDFC FIRST Bank has explained guidelines in the form of Frequently Asked Questions (FAQs) on their website.

Read the detailed FAQs and their answers here: IDFC FIRST Bank Loan Restructuring Policy

6. IDBI Bank

In line with the RBI’s guidelines for one-time loan restructuring for COVID-19 related stress, IDBI Bank has announced their MSME restructuring or rehabilitation policy in detail on their website in different sections.

Check details here: IDBI Bank Restructuring Policy for MSME

7. Canara Bank

After the RBI released its ‘Resolution Framework for COVID-19 Related Stress’ in September this year, Canara Bank has mentioned its guidelines for Resolution Framework for Personal Loans and other loans.

The guidelines are mentioned in the form of Frequently Asked Questions (FAQs) on the bank’s website in four different sections, viz.:

  • Personal Loans
  • Mid Corporate Credit
  • Micro, Small and Medium Enterprise Credit
  • Large Corporate Credit

8. Fullerton India Home Finance Co Ltd (Grihashakti)

To ease financial woes of Home Loan and Property Loan customers, Fullerton India Home Finance Company Limited (Grihashakti) has released One Time Loan Restructuring Guidelines, FAQs and Calculator online. The advisory is as per the RBI’s circulation that asks lenders to extend repayment ease by offering recasting option for maximum of two years.

The lender has stated that it will not allow further Moratorium choice to its customers. But those who are affected financially due to COVID can apply for loan restructuring and submit proof of impact of pandemic on their monthly income. The request for restructuring can be initiated for Loan Against Property, Home Loans, Commercial Property Loans, Home Improvement Loans and Home Extension Loans of Fullerton Grihashakti.

Check Fullerton Home Loan restructuring Advisory, Eligibility, FAQs and Steps to Apply here: Fullerton Grihashakti: One Time Home Loan Restructuring Terms

9. Canara Bank

After Reserve Bank of India’s (RBI) announcement regarding loan restructuring, Canara Bank has released a set of detailed Frequently Asked Questions (FAQs) regarding its Resolution Framework for Loans/Advances due to COVID-19-related Stress. The FAQs cover Personal Loans as well as corporate loans.

Read here for Canara Bank Resolution Framework for Mid Corporate, MSME, and Large Corporate Credit: Canara Bank Resolution Framework for Mid Corporate, MSME, & Large Corporate Credit – FAQs

10. Fullerton India

As per RBI’s framework and guidelines for One Time Loan Restructuring option for borrowers struggling to serve their EMIs due to COVID 19, Fullerton India has announced its detailed guidelines, terms and condition, documents’ list, restructuring calculator and FAQS for its customers. All customers of Loan Against Securities, Loan Against Property, Personal Loans, Two Wheeler Loans, Commercial Vehicle Loans, Unsecured Business Loans (below 25 crores), MSME Loans / Secured Business Loans and Home Loans can apply. The customers can apply for restructuring online. On approval of request, the customer needs to submit the required documents to the lender’s branch.

Check details of guidelines here: Restructuring of Personal, Business & Auto Loans by Fullerton India