How to avail three-month moratorium for ICICI Bank EMI and credit cards

  • The Reserve Bank of India announced a three-month debt moratorium facility on March 27.
  • Banks were given an option to offer this benefit to their customers, and after SBI, ICICI Bank has also enabled the moratorium facility.
  • Customers can delay their EMIs and loan repayments by opting in for the moratorium facility, but interest will still be charged.
Amid the ongoing Coronavirus pandemic, the Reserve Bank of India on March 27 announced a three-month moratorium facility on home, car, personal and other loans. ICICI Bank is now allowing its customers to apply for this moratorium facility.

If you have a term loan such as a personal loan, car loan, two-wheeler loan or if you have availed working capital facilities such as cash credit or overdraft, you can apply for moratorium for 3 months. Credit card users and debit card users who have EMIs can also apply for this moratorium.

What is a debt moratorium?

Debt moratorium is a temporary suspension on the payment of loans. When you apply for a debt moratorium offered by your bank during the ongoing Coronavirus crisis, your payments will be postponed during the moratorium period.

According to RBI guidelines, the debt moratorium period is from March 1 to May 31, 2020. During this period, customers who have opted for this facility will not have to pay any installments or dues.

However, interest will still be applicable, so it is advisable that you opt in for moratorium only if it is necessary.

How to avail moratorium for ICICI Bank loans and credit cards

To apply for the moratorium facility from ICICI Bank, follow the steps below –

  • Go to ICICI Bank’s website.
  • Now, in the announcement window, click on ‘Choose Your Option’.

  • Now, you will be asked to enter either your ‘Registered Mobile Number’ or ‘Registered Email ID’.


  • Enter either your phone number or Email ID and click on ‘Next’.

  • Now, you will be asked to enter either your ‘PAN number’ or ‘Date of birth’ as per the bank records.

  • Enter either your PAN or your date of birth and click on ‘Next’.

  • If you have a retail loan such as a personal loan, two-wheeler loan, car loan, home loan, business installment loan or any other retail loan mentioned in this first list ‘Retail loans’, select the loan on which you want to avail the moratorium.
  • Once you have selected the loan, scroll down and click on ‘Submit’.

  • If you have availed cash credit, overdraft, term loan, demand loan, crop loan or any other loan mentioned in the second list of ‘Working capital / Business / Agri Banking facility’, select the loan on which you want to avail the moratorium.
  • Once you have selected the loan, scroll down and click on ‘Submit’.

  • If you have outstanding credit card bill or EMI on debit card, you can avail moratorium in the third list ‘Credit Facilities’
  • Click on ‘Submit’.


  • Your response will be recorded and the bank will contact you for confirmation after some time.
See also:
No EMI payments for home, car, and corporate and other loans for 3 months says RBI
FAQs about RBI’s three-month deferment on EMIs answered by the Indian Banks Association
Loan moratorium: Most pvt banks go for "opt-in" option