Following are considered as eligible customers:
Conditions to makes you not eligible for resolution plan includes:
If the borrower is affected financially and cash flows are adversely impacted due to COVID pandemic, can place request for resolution plan.
Aavas shall assess and validate the impact on cash flows due to pandemic and viability to service revised EMIs based on income streams of the borrower. Intention, repayment behavior shall be factored in.
The resolution process under this window shall be treated as invoked once Aavas and borrower agreed to proceed with the resolution plan to be implemented.
Based on an assessment of income streams of yours, the resolution plans implemented under this window may include:
Borrower to provide documents to validate adverse impact on cash flows and to ascertain the viability to service revised EMIs as needed by Aavas.
Additionally, a consent letter and supplementary agreement with re-negotiated terms shall be signed by all borrowers, co-borrowers and guarantor of the existing loan.