Covid-19 Relief: HDFC Bank Releases FAQ on Deferred EMIs and its Impact
Source: Business Standard
As the Reserve Bank of India announced relief measures for the common man to deal with coronavirus, several banks have come out with their explanations on what will the impact on the EMIs for the customers if they opt for deferring the EMIs by three months. Here is an FAQ by HDFC Bank, explaining how the stipulation by RBI will impact its customers.
FAQs on EMI Moratorium
1. What is the EMI moratorium provided for loans under Covid-19 - regulatory package?
- RBI has allowed all Banks and Indian Financial Institutions to offer its customers an option of EMI moratorium up to 3 months
- That is customer can choose to defer their EMI payments scheduled from Mar 1st, 2020 to May 31st, 2020.