HDFC Bank extends moratorium on loan, EMIs, credit card outstandings by 3 months till August; here's all you need to know
4 years, 7 months ago

HDFC Bank extends moratorium on loan, EMIs, credit card outstandings by 3 months till August; here's all you need to know

Firstpost  

HDFC Bank announced that it has extended the loan moratorium by another 3-months HDFC Bank announced that it has extended the loan moratorium by another 3-months. The bank is offering its customers EMI moratorium and credit card outstanding moratorium as a relief measure. Loan Number: I wish to defer my unpaid EMIs falling due between 1 June, 2020 and 31 August, 2020 on the above referred Loan Number and I understand that interest shall continue to be charged on the outstanding portion of the term loans during the moratorium period. Yes, the moratorium is available on credit card outstanding and loans availed on credit cards for payments due from 1 Jun 2020 till 31 August 2020. Opting for 3 months moratorium allows you to defer the payment of your credit card dues and loan instalments taken on credit card till 31 Aug 2020.

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History of this topic

Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes
2 years, 6 months ago

Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes

News 18  

The Reserve Bank of India on Tuesday extended the timeline to implement various provisions related to credit card issuance till October 1. Moreover, the terms and conditions for payment of credit card dues, including the minimum amount due, shall be stipulated, the Reserve Bank of India said. Credit Card Rules to Change from July 1 Earlier in April, the Reserve …

Mastercard barred from adding clients
3 years, 5 months ago

Mastercard barred from adding clients

Hindustan Times  

Barely three months after cracking the whip on American Express and Diners Club for non-compliance with local data storage norms, the Reserve Bank of India on Wednesday barred Mastercard Asia from signing up new card customers on similar grounds. The multinational card network will not be allowed to on-board new credit, debit or prepaid card customers in India beginning July …

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period
4 years, 2 months ago

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period

News 18  

The Reserve Bank of India had in March, after the outbreak of the novel coronavirus, provided a moratorium on repayment of EMIs and credit card dues for three months. The top court in the due course directed the Centre to implement “as soon as possible” interest waiver on loans of up to Rs 2 crore under the RBI moratorium scheme. …

SBI loan restructuring: How interest will be calculated during moratorium extension period
4 years, 3 months ago

SBI loan restructuring: How interest will be calculated during moratorium extension period

India Today  

A few days ago, the country’s largest lender State Bank of India came out with a set of rules and regulations for offering an extension on loan repayments to those affected financially by the Covid-19 pandemic. However, there are several key aspects that Covid-affected customers need to know before availing moratorium extension on repayments under SBI’s loan repayment framework. Loan …

HDFC Bank Credit card EMI or loan restructuring: Eligibility, charges and how to apply
4 years, 3 months ago

HDFC Bank Credit card EMI or loan restructuring: Eligibility, charges and how to apply

Live Mint  

HDFC Bank is offering a moratorium of up to two years to retail borrowers under the loan-restructuring scheme approved by the Reserve Bank of India. If you are unable to pay your credit card dues in the wake of coronavirus pandemic, the bank provides you loan recast option. Credit card EMIs and loans: Customer will have an option to restructure …

Loan moratorium can be extended by 2 years: Govt
4 years, 4 months ago

Loan moratorium can be extended by 2 years: Govt

Live Mint  

The moratorium for repayment of loans can be extended by up to two years, according to a 6 August circular by the Reserve Bank of India, solicitor general Tushar Mehta told the Supreme Court on Tuesday. The central government also apprised the bench that it has filed an affidavit stating that the National Disaster Management Authority has taken cognizance of …

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31
4 years, 4 months ago

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31

News 18  

The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the COVID-19, sources said. It was only a temporary reprieve to borrowers affected by the pandemic, the sources said, adding that …

SC directs Centre and RBI to review loan moratorium scheme
4 years, 6 months ago

SC directs Centre and RBI to review loan moratorium scheme

Live Mint  

NEW DELHI: The Supreme Court on Wednesday directed the Centre and Reserve Bank of India to review the moratorium scheme on term loans and create tailored schemes for various sectors, including agriculture. The central bank had on 22 May extended moratorium on term loans till 31 August amid the nationwide lockdown due to covid-19. In March, the central bank had …

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC
4 years, 7 months ago

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC

Live Law  

The Reserve Bank of India has filed its counter affidavit stating that a waiving off interest on term loan repayments during moratorium would not be prudent as it would hit the health of banks & risk their financial stability.On May 26, the Top Court had sought a response from the RBI in a plea regarding the levy of interest on …

ICICI Bank extends moratorium on EMIs, credit cards: Check rules, charges and how to apply
4 years, 7 months ago

ICICI Bank extends moratorium on EMIs, credit cards: Check rules, charges and how to apply

Live Mint  

Following the guidelines of Reserve Bank of India, the ICICI Bank has extended moratorium till August 31. Here are the things you must know about ICICI Bank's moratorium facility 1) Duration of moratorium The moratorium facility will be granted for up to a period of three months, for all loans/facilities falling due for payments between June 1, 2020 and August …

HDFC Bank extends EMI moratorium till August. Check eligibility, how to avail
4 years, 7 months ago

HDFC Bank extends EMI moratorium till August. Check eligibility, how to avail

Live Mint  

In line with the RBI guidelines, HDFC Bank is offering it's customers EMI moratorium and credit card outstanding moratorium to help them sail through the disruption caused by coronavirus pandemic. If you avail the EMI moratorium, there will be a levy of interest at the contracted rate of the loan for the period of EMI moratorium on the loan outstanding. …

Loan moratorium extension will take care of cash-flow disruptions: SBI chief
4 years, 7 months ago

Loan moratorium extension will take care of cash-flow disruptions: SBI chief

Live Mint  

The Reserve Bank of India’s extension on Friday of the ongoing loan moratorium by another three months will take care of cash-flow disruptions for borrowers despite the absence of a one-time debt recast relief, said Rajnish Kumar, chairman, State Bank of India. “Our tendency has become that whatever has been given, just take it and ignore it and then start …

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August
4 years, 7 months ago

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August

Firstpost  

Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis Mumbai: Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed …

RBI extends loan repayment moratorium by 3 months
4 years, 7 months ago

RBI extends loan repayment moratorium by 3 months

The Hindu  

The Reserve Bank of India has extended the repayment moratorium of loan repayment for term loans by another three months, till August 31. “In view of the extension of the lockdown and continuing disruptions on account of COVID-19, it has been decided to permit lending institutions to extend the moratorium on term loan instalments by another three months, i.e., from …

Coronavirus | How will the three-month moratorium on EMIs impact customers?
4 years, 9 months ago

Coronavirus | How will the three-month moratorium on EMIs impact customers?

The Hindu  

The story so far: On March 27, the Reserve Bank of India slashed interest rates to counter the economic fallout of the coronavirus pandemic. It also announced other relief measures, which included permitting banks to provide a three-month moratorium on all term loans. Due to economic disruptions caused by the nationwide lockdown which has led to stress in the financial …

EMI Moratorium: Good or Bad? Experts explain how it impacts your loan
4 years, 9 months ago

EMI Moratorium: Good or Bad? Experts explain how it impacts your loan

India TV News  

As the new financial year has begun, so many public sector banks including some private banks announced tweeting that they will offer the service of 3 months moratorium to their existing customers and they can avail the service according to their needs due to Pandemic, COVID 19 impact on finances of people. People were worried even after the announcement by …

RBI allows three month's moratorium on EMIs: Here are the steps to follow if you are an account holder in SBI, ICICI and HDFC banks
4 years, 9 months ago

RBI allows three month's moratorium on EMIs: Here are the steps to follow if you are an account holder in SBI, ICICI and HDFC banks

Firstpost  

Here’s what you need to do to apply for a moratorium on loan EMIs and standing instructions provided by several banks such as SBI, ICICI Bank and HDFC Bank As India continues to fight against coronavirus, Reserve Bank of India has allowed banks and financial institutions to offer customers up to three months moratorium on their EMI payments, falling between …

Coronavirus Outbreak: Most private banks go for 'opt-in' option on loan repayment moratorium
4 years, 9 months ago

Coronavirus Outbreak: Most private banks go for 'opt-in' option on loan repayment moratorium

Firstpost  

Most of the private sector lenders have decided to go for the “opt-in” option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India Mumbai: Most of the private sector lenders have decided to go for …

SBI Bank to HDFC: List of PSUs and private banks offering loan EMIs moratorium for 3-month to their customers
4 years, 9 months ago

SBI Bank to HDFC: List of PSUs and private banks offering loan EMIs moratorium for 3-month to their customers

India TV News  

In a massive relief for borrowers, several public sector banks, including - SBI Bank, PNB, Union Bank and private lenders - HDFC, ICICI Bank, announced a 3-month moratorium on term loans, ruling in the directions by the Reserve Bank of India advised lending institutions to offer a three-month moratorium on repayment of all term loans in wake of the coronavirus …

HDFC Bank offers EMIs, credit card dues moratorium for 3-month. Here's how customers can avail it
4 years, 9 months ago

HDFC Bank offers EMIs, credit card dues moratorium for 3-month. Here's how customers can avail it

India TV News  

HDFC Bank EMI, Credit Card Dues Moratorium: HDFC bank announced EMI and credit card moratorium to its customers in line with the Reserve Bank of India guidelines that all lending institutions will have to give their borrowers a three-month moratorium on term loans in wake of the coronavirus outbreak hitting the economy hard. "In line with the RBI guidelines and …

SBI, HDFC Bank, ICICI activate EMI moratorium option for customers
4 years, 9 months ago

SBI, HDFC Bank, ICICI activate EMI moratorium option for customers

The Hindu  

State Bank of India, the country’s largest lender, and private-sector lenders ICICI Bank and HDFC Bank have started activating loan repayment moratorium option for customers, that was mandated by the Reserve Bank of India last week in view of the financial stress faced by borrowers caused by lockdown due to the COVID-19 pandemic. They may continue to pay in usual …

Attention Credit Cardholders! RBI's 3-month moratorium on EMIs is not applicable on credit card bill payments
4 years, 9 months ago

Attention Credit Cardholders! RBI's 3-month moratorium on EMIs is not applicable on credit card bill payments

India TV News  

In a massive relief for common man and business in wake of coronavirus crisis, the Reserve Bank of India on Friday reduced its repo rate by a huge 75 basis points. RBI also said that all commercial banks, co-operative banks, all-India financial institutions, and NBFCs are being permitted to allow a moratorium of three months on payment of installments in …

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