In order to ensure financial health of borrowers (individuals and business owners) during Covid-19 pandemic crisis, RBI has allowed all Financial Institutions to allow deferment of EMI and Interest payments for a maximum period of 6 months (March 2020 – August 2020). This scheme covers all EMI and / or Interest due or charged for the period from March 01, 2020 to August 31, 2020.

The duration of moratorium period is from March 01, 2020 to August 31, 2020. We are extending a maximum of 6 months moratorium to borrowers who could not pay their EMI. Borrowers who paid their dues till March 2020 will be eligible for 6 months moratorium (April 2020 to September 2020). Accordingly, the next EMI will be due in October 2020.
NOTE: This is only a deferment of EMI and Interest payments of the loan and not a loan waiver.

1.  Moratorium is given to all the accounts which are standard/non-delinquent as of February 29, 2020. 
2. Moratorium is also available on loans which were disbursed between March 1, 2020 and March 31, 2020. 
3. Borrowers / loans classified as non performing assets (NPAs) as on 29th February 2020 are NOT eligible for moratorium benefit.
4. Moratorium benefit is extended for EMIs which are due between March 1, 2020 and August 31, 2020.

Moratorium will automatically apply to all eligible borrowers. Borrowers who are willing to continue to repay EMIs during moratorium period, can pay during center meetings to the loan officers and such amount will be appropriated in the respective loan account by the Bank. Borrowers attending the center meetings as per schedule should take all precautions towards COVID-19 such as social distancing etc.

While there is no change in the rate of interest, however, if borrower opts for moratorium, additional accrued interest for the moratorium period will be applicable. This additional accrued interest for the moratorium period will get capitalized/added to the principal outstanding amount at the end of moratorium period. As the EMI amount remains unchanged, the tenure of loan will get extended for such period to cover the moratorium months and additional accrued interest payment.

No. EMI amount will remain the same but the accrued interest will get capitalized/added (to the principal amount) due to which loan tenure will increase.

No. EMI of March 2020 is already adjusted towards your account and therefore no refund is possible.

Yes. The payment will be adjusted towards your Schedule.

No. Moratorium will not impact borrower’s repayment history if borrower starts repaying the loan again regularly, after completing the moratorium period. However, any overdue prior to March 01, 2020 will continue to be reported.

After moratorium, the loan will be rescheduled and total tenure of the loan will increase. Additional accrued interest for the moratorium period will get capitalized/added (to the principal amount) with which loan tenure will increase and there will be no change in the EMI amount.

Yes, this is allowed. Borrower can pay loan instalment to business correspondent (BC) staff during regular center meeting or contact the BC or RBL Bank for any clarification.

Yes, subject to fulfilment of all eligibility criteria as per RBL Bank’s internal credit policy.

There is a cost associated with the deferral of EMI in terms of accrued interest, which is payable by the borrower. Borrower who are willing to repay their loan installments during moratorium period can pay during center meetings to the loan officers.