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Top Things to Know About RBI's EMI Moratorium

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

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Top Things to Know About RBI's EMI Moratorium

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  1. 5 Things to Know About RBI's EMI Moratorium

  2. The Reserve Bank of India (RBI) offered 6-month EMI moratorium for the all terms of loans.

  3. 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.

  4. 2 It includes all types of loans like personal loan, home loan, business loan, education loan, working capital loan, credit cards dues etc.

  5. 3 Interest rates is not waived off and we will continue to accrue on the outstanding loan amount.

  6. 4 Borrower will have to pay additional interest for 6 months by either increasing the loan amount per instalment or number of instalments.

  7. 5 This deferment will not result in negative impact on CIBIL score for borrowers or credit score downgrade or default for corporates.

  8. RESOURCES https://en.wikipedia.org/wiki/Moratorium_(law) https://www.fullertonindia.com/moratorium-emi- calculator.aspx

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