Loan Moratorium and Adjustment of EMI Terms- Format

Disclaimer
The information provided regarding "Loan Moratorium and Adjustment of EMI Terms" is for general informational purposes only and should not be considered as financial or legal advice. Loan moratoriums and adjustments in EMI terms are subject to approval by your lender, and eligibility criteria may vary based on your individual circumstances and the specific policies of the financial institution.

Before making any decisions regarding loan moratoriums or EMI term adjustments, it is recommended that you consult with a financial advisor or your loan provider to fully understand the implications, including the potential impact on your credit score, loan repayment duration, and overall financial obligations.

The terms and conditions, including any applicable fees or changes in interest rates, may differ from lender to lender. Borrowers should carefully review the loan agreement and seek professional guidance to make informed decisions based on their financial situation.

Copy down (Need to Contact) from Subject- Replace the proper slots and send mail. Kinldy check disclaimer before usage of format. 

Subject: Request for Loan Moratorium and Adjustment of EMI Terms

Dear [Lender's Name or Customer Service Team],

I hope you are doing well. I am reaching out to request your support in adjusting my [loan type, e.g., personal/business loan] terms due to financial challenges caused by a personal and business slowdown.

Over the past [specific time period, e.g., several months], I have experienced significant strain in managing my financial commitments, resulting from [brief explanation of the reason, e.g., reduced business revenue or unexpected expenses]. To ensure I continue meeting my obligations and avoid falling under the NPA category, I kindly request the following adjustments:

1. Reduction of my current EMI amounts.
2. An extension of the loan tenure to accommodate the revised EMI structure.

These changes would greatly help me manage my financial situation more effectively while allowing me to continue honoring my loan commitments. Additionally, I would like to request a loan moratorium for [specific duration, e.g., three months], if possible, to provide immediate relief.

I understand that such requests may have implications on my credit profile. I would appreciate it if you could clarify whether this adjustment or moratorium would be reported as a "Restructured Loan" to credit bureaus. I kindly request that any changes made to my loan terms minimize potential impacts on my CIBIL score, as maintaining a strong credit standing is important to me for future financial opportunities.

If granted, I assure you of my continued commitment to repay the loan in accordance with the revised terms. Please let me know the steps or documentation required to process this request. I am happy to provide any additional details or supporting documents if needed.

Thank you for your understanding and support during this difficult time. I truly value the relationship I have with [Bank/Finance Company Name] and am committed to resuming regular payments as soon as circumstances improve.

Warm regards,
[Your Full Name]
[Loan Account Number or Reference]
[Contact Information]