Moratorium is a payment holiday which allows you to defer payments against your current outstanding till August 31, 2020. The deferred payment is due to be paid as per September 2020 monthly statement.

All RBL Bank Credit Cardmembers holding a valid and active RBL Bank Credit Card as of February 29, 2020 are eligible for this facility. If the Credit Card is overdue for any previous outstanding amount, you will have to make a payment against the overdue amount to regularize your account to avail the moratorium benefit. You will be eligible for moratorium if at least minimum amount due till February 29, 2020 is paid.

Because of disruption caused by Covid-19, the moratorium facility is extended to the customers. Moratorium helps you in postponing the current dues by certain duration. However, you continue to pay interest on such outstanding. We recommend you to opt in for moratorium after due consideration of your financial health.

No, it is not necessary to take moratorium facility. However your Card will be enrolled for this facility if the payment for atleast the minimum amount due is not received on or before due date as per the current statement. We recommend you to clear your Card outstanding in order to avoid interest charges.

You will be effectively paying interest for the moratorium period at the applicable interest rate. Here is a quick illustration:

This calculation is for illustration purposes only. Total outstanding amount (if any) will accrue Interest charges as applicable (up to 47.88%).

Your Credit Card will not be open for new purchases during the moratorium period post enrollment. Once you make a payment (at least minimum dues) for your September Statement, the temporary block on your Card will be removed and Card will be enabled for making fresh purchases.

You can also get your Card enabled for future purchases during the moratorium period in case you make the payment of atleast the pending dues as per current statement.

There will not be any impact on Credit score during the moratorium if you choose to opt in for this facility. Any delay in payments of dues/ outstanding amounts payable after Moratorium period will be reported to Credit Information Companies as per existing process.

Your Card will be enrolled for moratorium if the payment for minimum amount due is not received on or before the due date for the current statement. Please note: your Card will be temporarily blocked during the moratorium period till payment of dues is received.

Please note:

1. This facility has been extended till August 31, 2020 as per latest notification from RBI.
2. You cannot use your Card for new purchases during moratorium period if your Card is enrolled for moratorium.
3. To enable your Card for new purchases, you will be required to pay at least the Minimum dues on your Card as per September 2020 statement.
   If your Card is enrolled for moratorium and you desire it be open for future purchases, you will be required to clear dues of the latest statement to enable your Card for purchases.
   Bank shall intimate you on the amount of payment you are required to make. Payment amount may differ for each customer. Once payment is received, your Card will be unblocked and you can make fresh purchases.
   If you have multiple accounts, Payment is required to be made for all Cards to be open for purchases.
4. If you have any ongoing EMIs, these will be billed in subsequent monthly statements from September 2020 onwards. Interest for unpaid EMIs for the moratorium period  if any, will be billed on your Card in September 2020 statement.
5. You will be required to pay the billed outstanding along with the Interest Charges by the due date in September 2020 to avoid Late Fees and adverse impact on the credit score.
6. You will be eligible for moratorium if at least minimum amount due till February 29, 2020 is paid. Any charges that are levied before enrollment for Moratorium will not be refunded. 
7. Cardmembers holding a valid and active RBL Bank Credit Card as of February 29, 2020 are eligible for this facility.
8. On enrollment in Moratorium, Late Payment Fee will not be applied to your Credit Card account till August 31, 2020. However, late payment charges already levied before enrollment for moratorium will not be refunded.
9. You will continue to incur Interest charges on your outstanding dues as per monthly billing statement. Therefore, it is suggested to clear your outstanding on monthly basis.
10. If the Card account is blocked for usage due to non-payment, the Card will be open to use only after clearing the dues.
11. The above policy is applicable from April 07, 2020.
     

Click here for detailed FAQs with regards to moratorium for Credit Cards. 
 

To check your Credit Card outstanding and other details, please use RBL MyCard App or Click here to download.

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To view previous version applicable till April 07, 2020, click here.

Disclaimer:

This is without prejudice to the provisions of the Cardmember Agreement and such request is subject to approval of the RBL Bank. Any reschedulement of EMI/interest does not amount to waiver of Cardmember(s) obligation towards repayment of any amount/monies due and payable under the Credit Card issued by RBL Bank.