Covid 19 Moratorium Regulatory Package – RBI
Dear Customer, In the wake of continuing COVID situation RBI has further extended the window of moratorium on repayment of loans upto 31st August, 2020.
This moratorium extension will mean that if you avail the same, you will not be required to make any payment towards the EMIs/Pre EMIs for your loan from June-August 2020. The repayment schedule for your loan will be extended by another three months.
We once again wish to highlight that moratorium does not mean waiver of interest and leads to increase in loan outstanding and consequently increase in EMI at the end of the moratorium period. Payment of EMI on time is in your own benefit. We advise you to use your judgement after understanding the future implication of moratorium on your financial position. Please refer to the FAQs for more details.
**Note – Requests received till 31/05/2020 will be processed. Please write to firstname.lastname@example.org for any further queries
Wishing you best of health. Stay Safe.
Disclaimer: This is without prejudice to the provisions of the Loan Documents and such request is subject to approval of the Lender. Reschedulement of EMI does not tantamount to waiver of amount payable under the Loan Documents.