Deferment Request Form

In light of the recent nationwide lockdown, the Reserve Bank of India (RBI) has allowed banks and other financial institutions to provide a moratorium of six months for all term loan installments which are due for payment between 1 March till 31 August, 2020.

What Is A Moratorium?

A moratorium period refers to a particular period of a loan tenure in which the borrower does not have repay anything. It is like a waiting period before the borrower will have to start paying the EMIs for their loan again.

What It Is Not…

A moratorium is NOT a waiver or a concession. It only means that you can let your EMIs get accrued to prevent a liquidity crisis with the same terms and conditions of your loan.

What You Should Know:

  • The moratorium is on your entire EMI, including interest and principal repayment.
  • Your credit score will NOT be impacted due to the moratorium.
  • If you have already paid your EMI for May, you can avail the moratorium for the next three months i.e June, July and August 2020.

Apply here for Deferred Payment