Rahulkumar
Uploaded on May 26, 2020
Category
Business
RBI announced an extension of the moratorium on loan EMIs Due to Covid19; this makes it a total of six months for the EMI moratorium. Fullerton India offers moratorium of 6 months on payment of all type of loans. Use our Moratorium EMI Calculator to understand how opting for a moratorium could affect your loan. For more info visit here: https://www.fullertonindia.com/moratorium-emi-calculator.aspx
Category
Business
Top Things to Know About RBI's EMI Moratorium
5 Things to
Know About
RBI's EMI
Moratorium
The Reserve Bank of India (RBI)
offered 6-month EMI
moratorium for the all terms of
loans.
1
Six months moratorium on all types of loan by
Reserve Bank of India (RBI) means that
borrowers can skip their monthly instalments
which are due from 1 March 2020 to 31 August
2020.
2
It includes all types of loans like personal loan,
home loan, business loan, education loan,
working capital loan, credit cards dues etc.
3
Interest rates is not waived off and we will
continue to accrue on the outstanding loan
amount.
4
Borrower will have to pay additional interest for
6 months by either increasing the loan amount
per instalment or number of instalments.
5
This deferment will not result in negative impact
on CIBIL score for borrowers or credit score
downgrade or default for corporates.
RESOURCE
Shttps://en.wikipedia.org/wiki/Moratorium_(law)
https://www.fullertonindia.com/moratorium-e
mi- calculator.aspx
Comments