Important : Don't opt for Loan EMI moratorium unless absolute necessary

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Important : Don't opt for Loan EMI moratorium unless absolute necessary

Many are not aware of the impact of RBI’s statement that interest would continue to accrue during the period of the moratorium. It can increase your EMI tenure upto 16 months depending on remaining tenure of loan.

Kindly read below article before opting for EMI moratorium.

https://www.moneycontrol.com/news/business/pers...

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It’s your personal interest.

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hannusk wrote:

It’s your personal interest.

This is power of compound interest.

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good information… thanks

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RBI is saying that every bank should make this default.
How to opt-out of all this??

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Original wrote:

RBI is saying that every bank should make this default.
How to opt-out of all this??

Yesterday, RBI asked banks to offer default moratorium of 3 months loan EMI unless opted out.
So you have to check emails and net banking for opting out of same as customer care call is not available. You may also visit the respective branch for same.

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Krrezi1 wrote:

good information… thanks

Welcome.

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