Moratorium Policy (EMI)
With the widespread outbreak of the COVID-19 pandemic, the Reserve Bank of India has provided a relief option to the clients to avail a moratorium period of six months (1st March, 2020 to 31st August, 2020) to repay their loan instalments.
The option for moratorium/deferment may be applied/requested by the client in case the immediate (short term) cash flows are adversely impacted or financial constraints are faced due to the rise of the Covid-19 crisis.
Please Note: By opting for moratorium, the client shall merely defer (delay) the payment of their immediate instalments/payments/accrued interest. It is NOT a concession/waiver, and interest would continue to accrue during the Moratorium Period at the applicable rate of interest. The normalised repayment schedule for the client would resume from September 2020 onwards, once the Moratorium Period is declared over.
Moratorium Policy (EMI)
With the widespread outbreak of the COVID-19 pandemic, the Reserve Bank of India has provided a relief option to the clients to avail a moratorium period of six months (1st March, 2020 to 31st August, 2020) to repay their loan instalments.
The option for moratorium/deferment may be applied/requested by the client in case the immediate (short term) cash flows are adversely impacted or financial constraints are faced due to the rise of the Covid-19 crisis.
Please Note: By opting for moratorium, the client shall merely defer (delay) the payment of their immediate instalments/payments/accrued interest. It is NOT a concession/waiver, and interest would continue to accrue during the Moratorium Period at the applicable rate of interest. The normalised repayment schedule for the client would resume from September 2020 onwards, once the Moratorium Period is declared over.