ICICI Bank is allowing its customers to apply for moratorium on your loans, credit cards and other credit facilities. If you apply for the moratorium, your EMI dues will be postponed and you would have to resume payment after August 31,2020. As this is only a deferment of payment, interet will continue to accrue on your outstanding amount,during the moratorium period. Due to this, the tenure of your loan will also get extended.
ICICI Bank customers can apply for the moratorium for the month of June 2020 and this can be made before June 24,2020. But if you want to avail the moratorium for the months July and August 2020, you would have to re-apply on ICICI Bank’s official website. And you would be required to submit your moratorium request at least 5 working days before your EMI payment due dates.