Looking to make use of the new loan restructuring benefits, but not sure which documents will be needed? Worry not, we’ve got you covered. Here is a consolidated list of the documents required by banks to recast your loan.

Salaried Individuals

  • A copy of your salary slip for the month of February 2020 and also your latest salary slip. Note that the restructuring facility is available only for the individuals who are financially affected by the pandemic. Such individuals will be asked to submit a declaration of expected income immediately after the end of the desired moratorium period which is a maximum of 24 months. This will give banks their assurance that the borrower will be able to pay off loans.
  • If you are one among those who lost their job during the current crisis, then submission of Letter Of Discharge from your previous employer is mandatory. But if you have not received a termination letter or are not able to procure it then banks do accept your salary statements showing no income was credited to your account during the mentioned period along with a self-declaration.

Businessmen Or Professionals

A statement of operating account from February 2020 till 15 days prior to submission of application is needed for businessmen, self-employed and professionals. You will be asked to submit a declaration that your business was affected by the lockdown. Along with this, GST returns for current year, income tax returns and Udyog certificates are required.


*Note that besides the documents listed here, your lender may ask additional documents if needed. So, it’s always wise to check with your lender for the actual list of documents needed to restructure an existing loan.