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Housing Loan, Loan Against Property, Auto Loan, Education Loan & Personal Loan
This scheme is intended for borrowers to mitigate the burden of debt servicing brought about by
disruptions on account of Covid-19 pandemic and to ensure the continuity of viable businesses.
There may be a temporary disruption in the Cash Flows, and in some cases loss of income, for
the businesses/ individuals, the Scheme will bring relief to such borrowers. All those borrowers
who have regular stream of cash flow should opt for continuation of the regular EMI.
1. What is the relief RBI has provided for retail loan under COVID 19- regulatory package
?
RBI has permitted Bank togrant a moratorium of three months on payment of all instalments
falling due between March 1, 2020 and May 31, 2020. Hence Bank will not raise the instalment
demand during this period and Borrowers availing this concession are not required to pay the
Instalment during the period. Accordingly the residual tenor of repayment schedule will be
extended by three months.
2. What is the process to be followed for getting the benefit of instalmentmoratorium?
The scheme will be applicable to all standard term loans under Housing Loan, Loan against
Property, Auto Loan, Education Loan & Personal Loan as on March 1, 2020. Wherever the
March 2020 instalment has already paid by the borrower, the relief would be applicable for the
EMI payable in April 2020 and May 2020.
3. Since the instalments are not to be paid, how will the loan be adjusted?
Moratorium of three months on payment of EMI instalments falling due between March 1, 2020
and May 31, 2020 will be offered. During the said moratorium period, Interest shall continue to
accrue on the outstanding portion of the term loan. The Interest accrued during period of
moratorium will be added to the outstanding loan amount at the end of the moratorium period
and the repayment schedule for such loans will be reframed. Accordingly, the residual tenor will
be shifted by three months.
4. What will happen after the relief period /moratorium is completed?
Interest shall continue to accrue on the outstanding portion of the term loans during the
moratorium period and will be added in the loan amount outstanding which will result in
marginal enhancement inbalance reframed EMIs.The repayment schedule for such loans will be
reframed and accordingly, the residual tenor, will be shifted by three months.
5. Does this moratorium period affect my Credit rating?
No, provided the loan repayment is satisfactory up to February 29, 2020.
6. What will happen to the accounts which are delinquent/ in default/overdue on or before
1st March 2020?
Since the relief is extended for instalments of loan which are due only between 1 st March 2020 to
31st May 2020, the instalments/other amount overdue on or before 29th February 2020 in any of
the loan account will have to be paid, in order to avoid down-gradation of account and slippage
in credit rating. Please note non-payment of dues up to February 2020 may result in down
gradation of account by April 2020.
7. What if my cash flow is not impacted on account of Covid-19 and hence I do not intend
to avail moratorium and want to continue to make the EMI Payment as in past ?
Customer may opt out from EMI moratorium by writing email to [email protected] latest
by April 15, 2020.
The E-mail should mention the following details
Email Subject should be Loan Account number

In the E-mail body please mention the following details
Name of the borrower.
Loan account number.
Customer to mention in the email that “I wish to opt out from the instalment moratorium facility
offered by the bank, hence kindly continue with existing repayment schedule and deposit my
EMI by way of ECS/SI” The request received in prescribed format will only be considered for
consideration of the moratorium Opt-out Facility.
8. What will be the Last date for opting out of the moratorium relief scheme ?
The last date for opting out of the moratorium relief scheme is April 15, 2020. The borrowers
need to send email for opting out from EMI moratorium to [email protected] latest by
April 15, 2020. Any request received after April 15, 2020 till May 3, 2020 for opting out of the
facility, the same will be effective from May 2020.
9. Can the borrower pay during the moratorium period?
The borrowers who have availed the moratorium relief can continue to make the payment during
the relief period, the same would be considered as prepayment in the loan account. For making
such payments kindly contact the nearest Branch / Retail Asset Center.
10. Will the Scheme be applicable to term loans availed after March 1, 2020?
The loan account disbursed after March 1, 2020 will not be covered under the Scheme.
11. Will there be any late payment charges or additional interest charge during the
moratorium period on the instalment not paid ?
Bank will not be levying any charges of late payment or additional interest during the
moratorium period for account granted with moratorium relief.
12. Will the moratorium period be considered in Education Loan where moratorium as per
scheme is already availed?
Moratorium relief will not be applicable where the loan is currently under moratorium provided
under the scheme without any obligation to pay interest.
Education loan cases whereborrower has opted for interest payment during moratorium the
moratorium relief will be provided on the interest payment during the period.
Education loan cases where EMI has already commenced the moratorium relief will be available
on the instalments payable during 1st March 2020 to 31st May 2020.

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Housing Loan, Loan Against Property, Auto Loan, Education Loan & Personal Loan

2. What is the process to be followed for getting the benefit of instalmentmoratorium?

4. What will happen after the relief period /moratorium is completed?

5. Does this moratorium period affect my Credit rating?

No, provided the loan repayment is satisfactory up to February 29, 2020.

The E-mail should mention the following details

Email Subject should be Loan Account number

9. Can the borrower pay during the moratorium period?

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