RBI guidelines on COVID-19 Regulatory Package dated May 23, 2020, permit Banks to offer extension of moratorium on payment of term loan instalments/credit card dues/deferment of interest on working capital facility (ies) falling due between June 1, 2020 and August 31, 2020 (Moratorium Period).
The option for moratorium/deferment may be applied/requested if your short term cash flows are adversely impacted or if you are facing temporary financial constraints arising from Covid-19 pandemic.
By opting for moratorium, you will merely defer the payment of your immediate instalments/payments/accrued interest. It is only a deferment option and not a concession since interest would continue to accrue during the Moratorium Period at the applicable rate of interest. The repayment would resume from September 2020, once the Moratorium Period is over.
Should You Opt for RBI’s Moratorium or Not – Check with EMI Moratorium Calculator
ISFC Online moratorium EMI Calculator below to accurately estimate the value of your EMI if you opt for the moratorium.
Disclaimer: The calculation performed by ISFC EMI Moratorium Calculator is based on the information you provided and is for illustrative purposes only. This calculation reflects amounts in Indian Rupee. The calculator results are approximations and for information purposes only. The data generated herein is completely and solely based on the information/details provided by you in response to the questions specified by ISFC. These questions and the calculations there on resulting in specific data are developed and based on certain tools and calculators that are made available to ISFC customer and are based on pre-determined presumptions/assumptions. While providing and developing these tools, has relied upon and assumed, without independent verification. Such information and the resultant data is provided only for user's convenience and information purposes. Kindly contact your nearest branch for exact details.