Top Things to Know About RBI's EMI Moratorium

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5 Things to Know About RBI's EMI Moratorium
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The Reserve Bank of India (RBI) offered 6-month
EMI moratorium for the all terms of loans.
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• 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.

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It includes all types of loans like personal
loan, home loan, business loan, education loan,
working capital loan, credit cards dues etc.
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Interest rates is not waived off and we will
continue to accrue on the outstanding loan
amount.
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Borrower will have to pay additional interest for
6 months by either increasing the loan amount
per instalment or number of instalments.
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This deferment will not result in negative impact
on CIBIL score for borrowers or credit score
downgrade or default for corporates.
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RESOURCES
https//en.wikipedia.org/wiki/Moratorium_(law) htt
ps//www.fullertonindia.com/moratorium-emi-
calculator.aspx
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