In lockdown due to the COVID-19 pandemic on March 27, the Reserve Bank of India (RBI) instruct to all lending institutions, including banks and housing finance companies to give its borrowers a three-month moratorium on term loans.
SBI, PNB, HDFC ,ICICI...etc bank started moratorium facility. Customer who want to avail this facility should visit bank website and can get more information related to activation process of this facility.
Do not avail moratorium if you have the money to pay EMI, the moratorium comes at a cost. Avail of it only if absolutely necessary.This is because the unpaid EMIs of April, May and will be added to your principal and you will be paying interest on a larger amount from July.
SBI, PNB, HDFC ,ICICI...etc bank started moratorium facility. Customer who want to avail this facility should visit bank website and can get more information related to activation process of this facility.
Do not avail moratorium if you have the money to pay EMI, the moratorium comes at a cost. Avail of it only if absolutely necessary.This is because the unpaid EMIs of April, May and will be added to your principal and you will be paying interest on a larger amount from July.
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