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01 Apr

By 99loans_admin

Category: Corona Virus, Entertainment, Finance, Financial Aid, Health, Home Loans, Loans, Scholarships, World Bank

Bank Loans EMI Moratorium and How to Approach to Resolve No Comments

Bank Loans EMI Moratorium and How to Approach to Resolve

Borrowers have a lot of questions regarding the three month moratorium on loans announced by the Reserve Bank of India last week. The RBI allowed all lending institutions to offer a moratorium to borrowers on repayment of all term loans. This moratorium also covered credit card dues.

The moratorium was for payment of all instalments falling due between March 1, 2020 and May 31, 2020. However, it was also stated that “Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium.”

Sunil Mehta, Chief Executive, Indian Banks’ Association (IBA), provides clarity on some common questions regarding the above, on the Central Bank of India and Oriental Bank of Commerce websites.

Why RBI has announced the relief package?
Reserve Bank of India has announced certain regulatory measures to mitigate the burden of debt servicing brought about by disruptions on account of Covid-19 pandemic and to ensure the continuity of viable businesses. It was felt that there may be a temporary disruption in the Cash Flows, and in some cases loss of income, for the businesses/individuals and the present measures work to bring relief to those businesses /individuals.

Which are the facilities eligible for availing the benefits under the RBI Covid19 regulatory package and whether the facility is extended across the board to all borrowers?
All Term Loans (including Agricultural Term Loans, Retail, Crop Loans and loans under Pool Purchases) and Cash Credit/Overdraft are eligible to avail the benefits under the package. This is available to all such accounts, which are Standard Assets as on 1st March 2020. Further, to avoid unnecessary paperwork the facility has been extended across the board to all the borrowers by extending repayment of Term Loan installments (includes interest) by 90 days. The original repayment period for Term Loans will get extended by 90 days e.g. a loan repayable in 60 installments maturing on 1st March 2025 will mature on 1st June 2025.

All banks Moratorium mail ids and links…Pls click on links to update your loan details (or) send a mail to concern bank ID’s below given,

HDFC Bank link,
https://apply.hdfcbank.com/vivid/afp?product=mo

HDFC Bank Mail ids,
To – loansupport@hdfcbank.com
CC – prashant.aldangadi@hdfcbank.com

ICICI Bank Mail ids,
To – customer.care@icicibank.com
CC –  roopam.bhandare@icicibank.com

ICICI Bank link,
www.icicibank.com

TATA CAPITAL Mail ids,
To – customercare@tatacapital.com
CC –  pankhaniya@tatacapital.com

Edelweiss Mail ids,
To – homeservice@edelweissfin.com
CC – zahid.mohammed@edelweissfin.com

BAJAJ Finserv Mail ids,
To – wecare@bajajfinserv.in
CC – sonpal.garg@bajajfinserv.in

RBL Bank Mail ids,
To – customercare@rblbank.com
CC – Sudeep.Khinvsara@rblbank.com

SCB Bank Mail ids,
To – customer.care@sc.com
CC – shivsundar.pandey@sc.com

Axis Bank Mail ids,
To – customer.care@axisbank.com
CC – amit208.kumar@axisbank.com

Indusind Bank Mail ids,
To –  Darshan.Gotpagar@indusind.com
CC –  Darshan.Gotpagar@indusind.com

Deutsche bank Mail ids,
To – premium.care@db.com
CC – patel.kira@db.com

Rattanindia Mail ids,
To – wecare@rattanindia.in
CC – shailesh.zagade@rattanindia.in  & urmil.badami@rattanindia.in

IIFL Mail ids,
To – reach@iifl.com  & reach@indiainfoline.com
CC – vikas.talreja@iifl.com

Aditya Birla Mail ids,
To – care.finance@adityabirlacapital.com
CC – ravindra.katke@adityabirlacapital.com

Neogrowth Mail ids,
To – helpdesk@neogrowth.in
CC – mehal.gandhi@neogrowth.in  & shivani.sinha@neogrowth.in  & kuldeep.s@neogrowth.in

Magma Mail ids,
To – sujit.ghorpade@magma.co.in
CC – saifulla.khan@magma.co.in

Clix Capital Mail ids,
To – covid19.moratorium@clix.capital
CC – manish.chhabra@clix.capital

Fullerton India ids,
To – namaste@fullertonindia.com  & ccrc@fullertonindia.com
CC – pradeep.tiwari1@fullertonindia.com & nilesh.mankame@fullertonindia.com

Shriramcity mail ids,
To – grievance@shriramcity.com  & customercare@shriramcity.com
CC – vinit.dixit@shriramcity.com

IDFC First Bank mail ids,
To – customer.care1@idfcfirstbank.com
CC –  pankajkumar.s@idfcfirstbank.com

Indiabulls Mail Ids,
To – service_dhani@indiabulls.com
CC – shah.aa@indiabulls.com

Indiabulls link,
https://paytmapp.app.link/Wb4lMX3qcT

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