RBI permits banks to allow 3-mth moratorium on...

RBI permits banks to allow 3-mth moratorium on EMI payment

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Deal Subedar
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plus1 RBI permits banks to allow 3-mth moratorium on EMI payment





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Critic
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1. It is optional. The customer needs to apply.
2. Its not universal. The banks will decide what class of people to offer. Most bank is expected to insist on some proof in reduction of income.
3. Its for term loan so not applicable on credit card dues.

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Deal Subedar
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panchabhut wrote:

1. It is optional. The customer needs to apply.
2. Its not universal. The banks will decide what class of people to offer. Most bank is expected to insist on some proof in reduction of income.
3. Its for term loan so not applicable on credit card dues.

I read somewhere that interest will be charged for the period, that way we can avoid people misusing it ie. being capable of paying but not paying just because they can.

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Deal Newbie
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igen wrote:

I read somewhere that interest will be charged for the period, that way we can avoid people misusing it ie. being capable of paying but not paying just because they can.

sorry delete.

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Deal Cadet
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igen wrote:

I read somewhere that interest will be charged for the period, that way we can avoid people misusing it ie. being capable of paying but not paying just because they can.

Interest is always charged in the moratorium period.

I disagree, government wants more and more people to opt for this because this scheme puts money in peoples pocket which is essential for the restart of economy. If spending doesnt boom after lockdown then we will enter a recession or even a depression.

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