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Thursday, March 30, 2023
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Economy

You don’t have to pay any loan EMI for next 3 months, and it won’t hurt your credit history

RBI defers all loan repayments taken from any financial institution until 30 June, says non-payment will not be classified as default.

Remya Nair
Governor Shaktikanta
RBI Governor Shaktikanta Das | Kiyoshi Ota | Bloomberg
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New Delhi: Providing a major reprieve to the common man, the Reserve Bank of India (RBI) Friday allowed a deferment of all loan repayments.

The move allows borrowers to not pay any equated monthly installments or EMIs for any loans until 30 June. This will bring relief to all borrowers, including those who have home loans, auto loans, education loans, agricultural term loans, retail and crop loans to their names. It will also be applicable on credit card dues.

The reprieve will be available for loans taken from any financial institution for all loans outstanding as of 1 March 2020.

In addition, the RBI has clarified that the rescheduling of payments will not qualify as a default and there will be no risk of the account being classified as a non-performing asset. This means non-payment of EMIs for the next three months will not adversely impact the credit history of the beneficiaries.

In its morning statement, the central bank said, “All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020.”

The regulator added, “Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, may be shifted across the board by three months.”

A notification issued later in the day clarified that interest will continue to accrue on the outstanding portion of the loans during the moratorium period.

“Instalments will include the following payments falling due from March 1, 2020 to May 31, 2020: (i) principal and/or interest components; (ii) bullet repayments; (iii) Equated Monthly instalments; (iv) credit card dues,” said the RBI notification.

Also read: More financial services, manufacturing units exempted from coronavirus lockdown

Loan data

As of January-end, over Rs 13 lakh crore of housing loans and Rs 2 lakh crore of auto loans were outstanding, data with the Reserve bank of India shows.

Besides retail borrowers, micro, small and medium enterprises and large companies will also benefit from the RBI’s relaxation of loan repayment.

Total non-food credit outstanding across all sectors like industry, services, agriculture and personal loans was Rs 89 lakh crore as of 30 January, shows data.

Also read: Modi govt, RBI, private sector, citizens: How India can be leader in fight against Covid-19

This report has been updated to include details about the RBI notification issued later in the day.

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275 COMMENTS

  3. I have taken a loan from Dmi finance, everyday the agents are calling and harassing me, my job is still not started, and I am telling this to these people but they don’t listen at all, instead they are talking very rude and using bad words to me, really need support on this.

  6. Please guide me that balance of personal loan is 1.99 lakh after 3 years paid. Bank person is telling 23.5 k monthly extra you have to pay. Means it is 2.82 lakh. They are trying to make us afraid or if they are true then banks has become horrible. More then corona people is going to die after couple of months because of banks.

    • This is true. The agents calling up for collection and harassing big time. First of all no job has already been a worry and now loans. It’s almost July and I’m still unemployed with a loan of around 5 lac. RBI needs to issue guidelines for this.

  7. I have taken a loan in moneymore. Due to lockdown no money to pay the due my. My husband is going to job from this month only.. so pls help me to give a time to pay the Amt sir . They are calling me and saying to pay the Amt and penaltie is increased to 1000 RS.pls help me sir..

  8. Sir Small finance bank are forced to take EMI loan in our State Tripura Amarpur Gomati so where should I complain please Help me thank you

  12. hmne loan liya he or ab hamaree pass paisey nai he deny ke liye or ab hm chatey he ke hamara karza maaf hojae

  13. I am Mr Henry Ajala, a certified and legitimate loan lender, i give out loans to serious individuals who are interested in securing a loan, the minimum we give out as loan is $25,000 while the maximum is $5,000,000. 00 at a rate of 3% interest, with a duration of 2 to 20 years.Please kindly provide the below information in order for us to proceed and i shall revert back with more details upon your next email with the below information, henryajala854@gmail.com

    NAME:
    AGE:
    ADDRESS:
    COUNTRY:
    CONTACT PHONE NUMBER:
    OCCUPATION:
    LOAN AMOUNT:
    DURATION OF LOAN:

    sincerely yours,
    Henry Ajala

      • Bharat financial inclusion Ltd bilkul frod hai jo Delhi k slum area mein commission base par loan provide karvati hai aur ,aur garib logo ko jutt bol kar 20 /25 hajar rupees ka first loan dey kar jiski payment har haftey 590 ka collection karkey 19 installment k bad topoff ka lollipop detey hai aur pura loan clear karva kar hum dubara nahi dengy bol dety hai ,first loan ka jo intrest hai vo 19.75tak letey hai aur fir merg hokar naam change karva letey hai aisi small finin e company ka licence cancel hona chahiye frod hai ye sab

  15. Mere bank se call aarahe hai emi pay karne ke liye,salary nahi aarahi lock down ke wajhase,kya hoga agar account me paise nahi rahe to.next moth se emi charge hoga bola hai samaj nahi aaraha kya kare pleas reply karna.

    • Nahi karo abhi
      31 may tak

      May bhi
      31 August tak bhi hojya
      Aap ka NPA nahi hoga
      @ahktips
      Find on YouTube

  16. No relaxation giving to me bank and finance institution in any loan emi ,I have taken loan from indiabull and Fullerton but nobody give any kind of emi relaxation on loan.
    My loan no-IPERBRL06566289
    MOBILE 7409152827

  17. Welcome to New World Finance Ltd, we appreciate the good comments that have been going around the internet about our good works and we say thankful to all that have taken a loan from our firm because We are certified, trustworthy, reliable, efficient, fast & dynamic and cooperate with our customers. Now let’s get to what we do best again. Do you need an urgent loan? A loan to probably expand or start your own business? or you need a loan for education or to pay up your debt and for other purposes, with an interest rate as low as 3% that suits any customer and you will enjoy our services. So contact us now via Email: Newworldfinance.ltd@gmail. com or Newworldfinance.ltd@yahoo. com.

  18. Respect sir madam
    Mera name vishwakarma kumar mobile number 7011044699 shriram city Union fiance pvt ltd motor loan leya leken a emi kate had mane rs 3753 please check

  20. Actually my total bajaj finance emi’s are 36 months. i paid 24 months emi’s remaing 12 months but right now it will increase extra 3 months and it will take extra check bounce charges also so fraud or cheating the customer bajaj finance so please involve rbi take action this is to much cheating 3 months extra emi plus check bounce charges daily calls please clear emi. India govt why should provide lockdown moratorium period bajaj finance why should increse extra 20000 rs please resolve the problem rbi or any financial court

  21. Sir mera lon Samsung finance plus ka hai.lon I’d. DMI0006687653 A20S MOBAIL KO HAI .MAI PARVIT WORK KARTA HU. MERA JOB WORKS 22 MARCH BAND HAI. MUZE COVID19 KHANE KE LIAE PAISA KAM PAD RAHA HAI.to mai kha se emi bharo. Rbi government bola hai lekin khay kare mobail finance lock karengi .fast emi to bank ne kat liae .abi bank me paisa hi nahi hai. To Abi finance company mobail lock karengi. To ham hamari family gav me hai to mai kaisa phone karunga. P/z sir ji hame bachalo ap finance vale
    AP samzavo . Ho sake to sabka finance maf karo.

  22. Sir pls give still 3 months to pay our emi pls sir cause still 17th may we have lock down how can we pay emi without earing and our is cloth business if Lock down open also who Will come and purchase clothes without having money its my humble request pls give still 3months monrertion for to pay emi and with out interst pls need full thank u

    • Aap sahi bol rhe ho mera to EMI ke sath 450rs extra charge le liya hai yaha government bol rhi h ki 3month tk koi EMI pay mt Krna relaxation mila h but ho kuch or hi rha h

      • Sir please ye btaiye government ne 3month ka EMI relaxation diya tha but bank wale phone kr ke preshan kr rhe the kisi trh maine kuch paise apne account me mangwaye the ek frnd se ..bank walo ne 450rs panalty ke sath cut kr liya ……..

  27. Dear sir IndusInd bank account number 100008815481 I’m no payment lockdown in India so please advise dear sir IDFC first bank already infometion

  28. Dear sir IndusInd bank account number 100008815481 I’m no payment lockdown in India so please advise dear sir IDFC first bank already infometion

  29. RBI Governor Mr. Shaktikanta Das
    Mai apko batana chahunga ki apne yani Rbi ne jo bhi facility all types loan ke liye diya hai use koi bhi bank nahi maan rahi hai emi present kar rahi hai aur balance nahi hone par o charges bhi debited kar rahi hai
    Ab mai apko apne baare me batata hu
    Mai MANBA FINANCE . Se bike purchase kiya hai 23 months ka Emi hai Jisme ki mai 18 Emi timely paid kiya hai lockdown ki wajah se bank me balance maintain nahi hai
    To MANBA FINANCE. Ne 10/04/2020 ko ecs present kiya aur bounced ho gya phir usne Rupees 295 charges debit kar liya uske mujhe bina inform kiye 18/04/2020 ko phir se Ecs present kiya aur bounced hone par Rupees 295
    Charges debit kar liya
    So plz sir Ap es subject me ap sabhi bank aur finance company ki Enquiry kar lijye
    Public to bewakuf ban hi rahi hai

    • RBI Governor Mr. Shaktikanta Das
      Mai apko batana chahunga ki apne yani Rbi ne jo bhi facility all types loan ke liye diya hai use koi bhi bank nahi maan rahi hai emi present kar rahi hai aur balance nahi hone par o charges bhi debited kar rahi hai
      Ab mai apko apne baare me batata hu
      Mai MANBA FINANCE . Se bike purchase kiya hai 23 months ka Emi hai Jisme ki mai 18 Emi timely paid kiya hai lockdown ki wajah se bank me balance maintain nahi hai
      To MANBA FINANCE. Ne 10/04/2020 ko ecs present kiya aur bounced ho gya phir usne Rupees 295 charges debit kar liya uske mujhe bina inform kiye 18/04/2020 ko phir se Ecs present kiya aur bounced hone par Rupees 295
      Charges debit kar liya
      So plz sir Ap es subject me ap sabhi bank aur finance company ki Enquiry kar lijye
      Public to bewakuf ban hi rahi hai
      my number is 7309208645
      same with me bajaj 5 time diduct 540 late payement

  31. I’m also receiving the call from Home Credit to pay EMI’s . They are calling me whole day and force me to pay the EMI.
    What i can do in this, please help.

  32. Big fraud no banks understand Indiabulls bounce my home Loan EMI .. now bank will take bounce charge and bank also will take bounce charges
    Even RBI GUIDE LINE WE EMAILED ALSO FOR moratorium period

    below my Loan no;
    Loan Account Number: HHLNOD00280563
    Registered Mobile Number: 9716333509

    and recived day sms below;
    Dear Customer, EMI of Rs. 15654 for 10-04-2020 00:00:00 against your availed loan HHLNOD00280563 has bounced with reason 04-Balance Insufficient. We are representing the transaction on 18-04-2020 00:00:00. Hence, requesting you to kindly maintain the adequate balance in your bank account

    Thanks
    Anil Kumar
    9716333509

  33. I have taken loan from IIFL home loan of Rs. 3000000. RBI saying no bank will take EMI for three months due to corona virus pandemic.
    I have done my registration for my flat but have not got neither registration documents nor iifl.
    So the IIFL have not yet given loan amount to the dealer but they have deducted EMI amount rs. 29459 from my account. Is that right?

  36. Sir Mene kisst loan app se 6000 Ka 15 din k liye loan liya tha total repayment mujhe 6400 rupya krna tha main kaise krun lockdown ki wqjah se mere account me paise nhi h aur usne 1000 penlty le rha dra rha dhnka rha aur bolta h 21 din ki limit bda denge per 1517 rupye bhej do link per aur 21 din bad penalty shit 7400 jma krvata h plz help me sir 7987755788

    • If I take loan today of CashBean personal loan of 15 days period .owing to covid 19 and guidelines of rbi should I have pay loan amount in15 day during lockdown if my economy condition is not well

  37. Sir i got mobile on Bajaj finserv card…my monthly emi is 1,774/- em getting calls to pay it with penalty that will increase more futher as time vl go….they are now asking it to arrange from somewere and pay 2,224/-……sir em runing short of money and as there’s a rule passed that not to pay emi till June10….plz help

  40. Sir lockdown ke wajah se mai emi nhi de payenge mai abhi bahar m phas gya hoon pleas kindly request sir

  41. Sir mai ne kise Wifi loan app se loan lee liya wo 15 din kaa loan hai.mujhe pta chela hai wo illegal hai preshan kar rhe hai dmki dete hai gaali dete hai smjh nhi aah rha kya kru guest ko phone krte hai.mai unka account number send krta hu.
    Chadha Finance Ltd.
    AC no. 245105000738
    Ifsc code. ICIC0002451
    Current a/c (ICICI BANK)
    Smjh nhi aah rha kha see du.
    Pls help me

  42. mera Emily ka date 2tarik ko rehta hai mere account me paisa nahi tha Par phir paisa aaya to 7th ko Emi kaat liya aur 600 fine ka bhi message aaya hai Bajaj Rbi ka bhi baat nahi maanta. Iski manyata radda honi chahiye.

  43. I have stop the EMI for 3months but how to stop this I don’t know please help me sir… 😭

  44. Sir lockdown ki wajah se mai Emily nahi de paunga, plz help, waise home credit company ke phone to nahi aa rahe lekin kabhi kabhi msgs aa rahe hai, plz help, account mei jo thode paise the wo bhi khatam hone wale hai is lockdown ki wajah se, sab bahut pareshan hai, plz help

  45. Sir mera bajaj ka Lone chal rha ha jiski last emi penning ha so abhi payment probalam h covid 19.ki vajha se mera Lone a/c.no.419WLTFE683879.Ha ise 3mahine ke liye aage kar do

    • Mam ye article The Print newspaper ka hai na ki bank ka to print wale isme kya hi kar sakenge. Contact with your bank/ finance company

  46. It’s bulshit and RBI is not consider anything, modi or finance minister only. Give strict warning to banks and private finace and. Bank,. They are threatning usanf they ask to pay the emi…. torturing,if we have small amout of cash then they will auto debitt the same…….

    No use for the middle income faamilies for mortorium….it’s total eyewash

  48. Sir mera indiabulls dhani se persnol loan chal raha hai to sir usko 3 month aage badane ke liye kya karna hoga kis number par krna hoga help plx

  49. I have applied for mortorium request for my pl from money tab but amount is deducted from my account

  50. My a/c IDBI Bank A/C NN06781 debited INR. 8088.00 Det:ACH-INDBULLSHSGFINL-TXNREF0972 as of 06APR 12:58 hrs. In spite of opting for deferment for 3 months for which mail sent both to Bank and India Bulls Housing Finance Ltd through online portal.
    It looks like all eyewash and bogus announcement of RBI for banks are not following up.
    Is there any body who can look at the earliest and do justice.

  51. My a/c IDBI Bank A/C NN06781 debited INR. 8088.00 Det:ACH-INDBULLSHSGFINL-TXNREF0972. as of 06APR 12:58 hrs. as per SMS recvd fm IDBI BANK ACCOUNT FOR EMI in spite of opting for deferment for 3 months sent both on mail and online banking portal.
    It looks like all eyewash bogus announcement made by RBI to the banks of our country.
    I am poor woman opted for PMAY through India Bulls Housing Finance Ltd. Is there any body who can look into it and do justice.

  52. Respected sir,we had taken a loan from india bulls .But unfortunately our account had been classified as NPA since three years.. i want to know wheather we would be benefited with this mortarium period or not… Thanks

  53. Same problem I have purchased mobile from credit card I should pay emi or pay after 3months

  55. Mera naam shaik mohammed hai maine cashbean cashin nanocredit kissht par lone liye hai ab mujhe cashbaen ne 2064 6 day per penalty Dali hai aour baaki lone wale civil girane ki baat karrahe hai please help

  56. I have a lone at bajaj finance ,today morning I have got a sms 2341/- debited from ur a/c as EMI ,what is this going on

  57. I have a lone at bajaj finance ,today morning I have got a sms 2441/- debited from ur a/c as EMI ,what is this going on

  58. Respected Sir. I am retired Paramilitary forces. As per RBI guidelines no EMI deduction up to May 2020. But Bajaj fin deduction EMI and Pension loan from SBI. M G Road Shillong MEGHALAYA. Also deduction Pension loan EMI. Please arrange to return back EMI. Thank you.

  60. Even RBI had announced not to deduct EMI for 3 months these bajaj finance & Capital First (IDFC) are already taken amount from account.
    Then what’s the use?
    In this critical condition also they need to take amount?

    Why Banks are not following RBI Rules?

  61. Is bajaj finance company so not taking loan for 3 month plz clarify this because due to this condition I had not paid ths current month emi and company is calling for this

  62. Home credit Mobile phone EMI cl krrhe h ki.. jyada charges lgenge n dena pdega.. rbi n Jo kha ispe lagu nhi hota kya.? Please answer me

  63. Sir, maine sirf adhar card par bajaj financery se bike loan pe liya hai . Jo montly 3476 ka hai …is critical suituation mey pura band oada hai , main 3 months loan nahi depaunga . Lekin bajaj se mujhe msg aaya ki pay ur laon earlier . Pls hlp me with dis sir.

  64. (1).Your A/C XXXXX593460 Debited INR 5,796.00 on 03/04/20 -Transferred to Mr. DHRUBAJYOTIGUH. Avl Balance INR 9,976.82. (2).Attention! EMI of Rs.3,529 for LAN 4F1GPLES878208 has bounced on 02-April-20 & will be represented on 03-April-20. To avoid charges keep your bank a/c funded. BFL can grant moratorium on request. Additional interest will be applied. For details visit http://www.bajajfinserv.in. (3).Dear Customer,Your Indiabulls Dhani Loan No.PL48602030 EMI of Rs.1156 is due on 05.04.2020.Pls maintain sufficient balance in your a/c to avoid penal charges. “Please help me please help “🙏.

    • Is bajaj finance company so not taking loan for 3 month plz clarify this because due to this condition I had not paid ths current month emi and company is calling for this

  65. Even RBI had announced not to deduct EMI for 3months these bajaj finance are already taken amount from account.
    Then what’s the use?
    In this critical condition also they need to take amount?
    System is not correct….

  66. Sir, maine cash bean financial company me se aadhar card pe loan li hu yi thi, lekin lock down ki vajah se me loan 10796 pay nahi kar paya to aaj company muj pe F I R KI WARNING de rahi he or penalty laga rahi he per day , so please help me

  67. India bulls ne emi naa milne pr penalti jo account me tha cut krliya yaha salary bhi realise nahi horai office wale only 15 days ka salary dene keh rahe kaise adjust hoga lockdown krwa diya hai to hum jaise logo ka kya kasoor

  68. Attention! EMI of Rs.4,423 for LAN 413PSTEU801066 has bounced on 02-April-20 & will be represented on 03-April-20. To avoid charges keep your bank a/c funded. BFL can grant moratorium on request. Additional interest will be applied. For details visit http://www.bajajfinserv.in

    • Same message to me also bro..how stupid they did not give any prior notice to me either through text or mail.

    • yes all emi deducted my account alance is low how can i survive please tell us we are totally agreed with our Prime Minister’s words totally lock down and you told to the banks but in the mornong whole country got the message of EMI deducted either auto loan either consumer loan every poor peoples got there foods what about middle class peoples one relief you given in the month of march that no emi tll june but unfortunetly this also not works

  70. I have taken a personal loan from indiabulls dhani finance company so we wan to pay the emi ?

  72. Sir, I bought a mobile phone from a retailer through BAJAJ FINSERV NO COST EMI POLICY.It will be charged each month 2nd date from my CENTRAL BANK OF INDIA account.my next payment date is 02.04.2020 during the lockdown and I noticed RBI Notice regarding Loans and EMI date extended that is so much helpful for this sutation.but my queries is it is applicable for My EMI policies ?

  74. Today 02/04/2020. my bajai finserv EMI is debited 5400/-rs..Govt said 3 months not to pay..but all r playing fcuking people life.

  75. ,please think about it, deduction kiye Hai lekin balance mantain nahi hai…Txn of INR 5,388.00 REVERSED in your A/c xxxxxxxon 02-04-2020 11:22:12 due to insufficient bal. Avl Bal INR 000 IDFC FIRST BANK wale sms kar rahe hai…..ki emi deduction hoga…

    • आज मेरे सैलरी एकाउंट से व्यक्तिक लोन ( Personal loan ) राशि ( ₹67000/-) की कटौती कर ली गई। भारतीय स्टेट बैंक के लोन अधिकारी से पूछे जाने पर बताया गया कि मेरे बैंक को सरकार और रिज़र्व बैंक ऑफ इंडिया का कोई लिखित पत्र या किसी प्रकार का निर्देश (Instruction) नहीं है। आखिर सरकार के आदेश का उल्लंघन क्यों ?

  76. IDFC FIRST BANK wale sms kar rahe hai…..ki emi deduction hoga…,please think about it, deduction kiye Hai lekin balance mantain nahi hai…Txn of INR 5,388.00 REVERSED in your A/c xxxxxxxon 02-04-2020 11:22:12 due to insufficient bal. Avl Bal INR 000

  77. I take loan from cashbean app i ll pay it after lockdown but they palnty on that amount everyday

  78. Sir, Where can we complain about bank as bank had charged late fees and interest in credit card bill.

  79. I have personal Loan at Axis Bank, TV and Washing mision Loan at Bazaz finance .

    I want to pay after 3 months EMI maratorium

  80. Dear Customer, Your EMI of Rs. 9202.00 for your IIFL Home Finance Loan account no. 759995 is due on 05/04/2020.Keep your account funded to avoid default charges.

    • This no emi pay for 3 months given all fake news no emi pay for 3 months
      Idfc as usual dedected emi today ..
      Why govt say falls news simply tell and without informing banks

  81. Don’t be sad guys. You ever remember that Government take care for the middle class? They can serve backwards only who never pay a single rupee tax. So don’t expect.

  82. Dear Customer,Your Indiabulls Dhani Loan No.PL41400802 EMI of Rs.1051 is due on 05.04.2020.Pls maintain sufficient balance in your a/c to avoid penal charges (What about this statement) what will be do

  83. I have taken loan from cashbean and my repayment date was on 29th March but I am now stuck in 530km away from my home, and I am getting calls from the NBFC registered finance company (Cashbean) continously, also I am being forced to paid the loan, I told them as I am not able to go out from my home please send any of your executive to collect the cash from my given address. That also they are not doing. And there application is showing over due charges against my account. I am going to put a RTI against Cashbean once the lockdown got over.

    • Same situation for me I ve also taken loan from cash been, & my due date is2, 04,20,,,&they forced me to pay today, & warned me to take an action like FIR against me, what can I do

    • Same here I’m being forced to pay however, my situation is so tight, I’m so depressed what to do:( , daya krne wale log hai hi nhi 🙁 I’m so depressed

  84. Hello sir

    Mera accocunt Axis bank me hi mai personal loan liya hu . Maine bank mai contect kiya to vo log bolte hi emi lagega

  85. IDFC FIRST BANK wale sms kar rahe hai…..ki emi deduction hoga…,please think about it, because its not possible for 3 monts so ..please help

  86. Dear Customer, to avail extension of your EMI due from Apr 1 till 31 May’20, SMS FULMOR to 560703 from your registered mobile no. T&C apply. Team Fullerton
    I have received this msg please action for this bank

  89. I have don’t pay emi for housing and personal loan . But central bank are put a hold in my account . Sir plz release hold in my account.
    My contact number is 9717496643

  90. Sir what about Bajaj finserv
    We need to pay. Or 3 months it will postponed plz reply me sir

  91. Dear Sir,

    I have an auto loan in HDFC Bank, which is supposed to get credited from my bank on 05/04/2020 and I received a message yesterday from HDFC Bank for payment of EMI against my auto loan. As per government and RBI guidelines issued few days back that no EMI will get deducted for 3 months including this month.

    So, kindly help.

  93. Maine Bajaj finserve se buissness loan liya hua hai jiski installment 2/4/2020 ko hai but corona/lockdown ki wajah se diposit nhi karwa paunga toh Bajaj finserve ne lockdown ki dekhte hue koi raahat di hai?

  94. আমার বাজাজ ফিনান্স কাডের লোন ১/০৪/২০২০ তারিখে শোধ করার সময় আছে সেটা আমার অ্যাকাউনট থেকে কাটবে যদি না দিতে পারি অসুবিধা হবেনা তো।

  95. To,
    The Finance Minister,
    Government of India.

    SUBJECT: RBI 3 MONTH MORATORIUM ON LOAN EMI

    RBI announced moratorium of 3 months of EMI’s. This will be an extra burden of compound interest which will be capitalised and will be added to the principal borrowed amount.

    This is not the relief package for the middle class. This is the relief package for Banks & Finance Companies.

    Suppose, if we, the middle class citizens are paying our regular EMIs in this critical situations, Banks & Finance Companies will be flushed with huge amount of non-investable fund. In the current situation, who will borrow fresh fund?

    It’s an opportunity for them that their funds are automatically reinvested at the same interest rate with us, without any marketing efforts.

    Through our experience, we have learnt that the middle class and relief are two opposites in the real world.

    Isn’t this rather a relief measure taken for their prosperity than ours’?

    “COMPLETE WAIVER OF INTEREST SHOULD BE GRANTED FOR THE NEXT 6 MONTHS ON BORROWED FUND AS MOST OF THE CITIZENS ARE EXPERIENCING TOTAL LOSS OF INCOME DUE TO THE ESSENTIAL LOCKDOWN.

    AFTER THE CURRENT SITUATION IS UNDER CONTROL, ONLY THEN START THE EMI AND CHARGE INTEREST FROM THAT TERM ONWARDS, NOT BEFORE THAT.”

    Note: We all should forward this message to the Finance Minister.

    🙏🏻Citizen of India🙏🏻

  97. Sir mere car lone hdfc massage aya 05/04/20 emi lagega rbi bola 3 month nai deni pl reply kya kare

  98. I have a education loan in united bank of India and personal loan in hdfc & ujjivan financial services.
    Can I have to pay for next 3 months

  99. Sir I have a loan from idfc first bank an amount of rs 5 lac but today I received a msg and call to pay the EMI even I listened about 3month postpones by the RBI . I have not money for this month don’t know what to do can you please help me ???

  100. Sir I have a personal loan and credit amount dues in axis bank.And I got message that the amount will deducted from my account.
    As per RBI no EMI or credit card amounts will be deducted
    Plz reply

    • Agar aapke account me balance hoga to deduct ho jayega other wise don’t worry u can pay after 3 month and there is no effect on your cibil score.

  102. Sir government is already declared. But i am also receiving a calls from my home loan bank. (Aspire home finance) they continue forcing me to pay EMI. And talking with me very rudely. What should i do??? And i am stuck outside from my home..i am from thane and stuck in andra pradesh. I am not understanding what should i do??

  103. I have a personal loan from Bajaj finance, and credit card loan from hdfc , I want to know, whether both have three months morotorium applicable for both.

  106. Sir,
    My emi gets deducted automatically from my account.
    I have Personal loan from IDFC and as per guideline from RBI there is no need to pay EMIs for next 3 months. But today only I received message that keep balance in ur account which suppose to deduct on 2nd of every month. Please guide me on this as soon as possible.give me format so

  107. Why SBI is not sending any kind of messages
    (which are agreed by RBI instructions) to the customers directly. Please do reply

  108. I have Credit Card loan & personal loan from HDFC Bank.I have got EMI aleart SMS.EMI due date 03.04.2020.Now What I will do Due to lock down situation it is not possible for me to pay the EMI next 3moths.HDFC. Bank debited EMI through ecs system My fund is now available for EMI but the present situation & It now necessary for me to reserve money for my personal perpuse.If Bank debited my EMI how I will solve my personal perpose.

    • Search google for hdfc emi moratorium

      There is option to opt this service.
      You have to do it manually,
      Some bank are doing it automatically if you don’t pay.

  109. Sir
    My loan is from Fullerton India
    What about that loan
    In this situation my hands are totally empty for installments

    • Extension ka msg aaya hoga

      Dear Customer, to avail extension of your EMI due from Apr 1 till 31 May’20, SMS FULMOR to 560703 from your registered mobile no. T&C apply. Team Fullerton

  111. I have hdfc bank loan auto pay option even I got mgs that amount will be deducted does this bank not following the rules of rbi

  112. Sir, I bought a mobile phone from a retailer through BAJAJ FINSERV NO COST EMI POLICY.It will be charged each month 2nd date from my CENTRAL BANK OF INDIA account.my next payment date is 02.04.2020 during the lockdown and I noticed RBI Notice regarding Loans and EMI date extended that is so much helpful for this sutation.but my queries is it is applicable for My EMI policies ?

    • No emi is deducted for 3 months don’t wory about it but if u have balance in your account then the EMI is deducted otherwise not,RBI said that from bigger financial 🏦 to small financial 🏦 everyone will follow this rule,so relax and STAY HOME STAY SAFE.

  114. Sir I have my personal loan from IDFC bank and EMI date is on 2nd April.. I received a msg also from bank, that keep your sufficient fund in bank to deduct EMI.. pls advice on this

  115. Dear sir .I have taken LOAN in sudha co operative bank.ihave paid EMI regularly. On 30/3/20.bank manager calling to me and forcing to pay EMI.on 1 april 20.i told madam pl give me 3 months covid 19 act of rbi rules.pl take interest.but bank madam is telling that rbi rules will not cover salaried person.so I deduct your EMI.
    So pl give clarification.cooperative banks have there own rules to follow.they can.disorder.RBI rules

    • Do not need to worry its a system generated sms so if any mesg revived from bank don’t u need to be worried and if your loan from aavas finances u have to send a sms to customer.aavas.in and type a mesg that yr financial condition is not good so u cant pay emi for next 3 month but u have to send this email today

  116. Dear Customer, Your EMI of Rs. 22314.00 for your IIFL Home Finance Loan account no. 775117 is due on 05/04/2020.Keep your account funded to avoid default charges.

  117. I agree. These 3 months relief will be calculated as default & the interest for non payment during this period will be added to our total outstanding during rest of the tenure & we will not even come to know about this.
    The relief could have been only when the intrest part also would have been deferred..

  118. If, I would not pay my HDFC credit card payment for this 3 months.
    Then, will HDFC charge any penalty or rate of interest for me ????

    • I already paid my credit card payments at 28 march 2020. It doesn’t apply on credit card and bajaj finserv consumer durable loan payments.

  119. Have you all noticed that there is no clarity from.any banks on how this is going to be done. No Bank has given clarity on how the public can avail it and also no financial websites or magazines or news papers are giving any clarity either on how it can be availed. Usually there are videos and explanations on how things can be done immediately when government announces something like linking your Aadhar. Now all I see is articles on how this will increase our interest payments and how we should avoid this and make a payment.

  122. Mera loan Bajaj se or hdb se chal raha hai emi katne ka msg aa raha hai ac me balance v nai hai kya kare

  123. IDFC sent messages to keep the balance on 02/04/2020.
    Customer care number is switched off. What can I do?
    Why banks didn’t following rbi rules.

  125. I have personal loan in BOI & Bajaj Finserv ,motorcycle loan in HDFC. I have not got any message. What can I do ?

  128. All micro finance company asking emi to pay and torturing me how can repay they treated very ruderly IAM so upset whether the rough using vulgar words also please send any complaint number sir

  130. I have Personal account with Indusind and Bajaj finserv. Also i have Consumer Durable Loan with Bajaj Finserv. So can they will also Debit from my account?

  131. I have Personal account with Indusind and Bajaj finserv. Also i have Consumer Durable Loan with Bajaj Finserv. So can they will also Debit from my account?

  132. Sir, IDFC first bank is sending payment of EMI for the month of April 2020 ,where we can complain about it

  134. To,
    The Finance Minister,
    Government of India.

    SUBJECT: RBI 3 MONTH MORATORIUM ON LOAN EMI

    RBI announced moratorium of 3 months of EMI’s. This will be an extra burden of compound interest which will be capitalised and will be added to the principal borrowed amount.

    This is not the relief package for the middle class. This is the relief package for Banks & Finance Companies.

    Suppose, if we, the middle class citizens are paying our regular EMIs in this critical situations, Banks & Finance Companies will be flushed with huge amount of non-investable fund. In the current situation, who will borrow fresh fund?

    It’s an opportunity for them that their funds are automatically reinvested at the same interest rate with us, without any marketing efforts.

    Through our experience, we have learnt that the middle class and relief are two opposites in the real world.

    Isn’t this rather a relief measure taken for their prosperity than ours’?

    “COMPLETE WAIVER OF INTEREST SHOULD BE GRANTED FOR THE NEXT 6 MONTHS ON BORROWED FUND AS MOST OF THE CITIZENS ARE EXPERIENCING TOTAL LOSS OF INCOME DUE TO THE ESSENTIAL LOCKDOWN.

    AFTER THE CURRENT SITUATION IS UNDER CONTROL, ONLY THEN START THE EMI AND CHARGE INTEREST FROM THAT TERM ONWARDS, NOT BEFORE THAT.”

    Note: We all should forward this message to the Finance Minister.

    🙏🏻Citizen of India🙏🏻

  135. IDFC is still sending messages to keep sufficient balance for the upcoming emi on 2nd of April..pls ans soon

    • No need to worry.. You can bounce it… it will not affect your cibil score… also of bank agents force you to pay emi during lock down period you can either complain to local police or rbi office.

    • Hi sir, I have 5 loans which is auto debit every month by the bank can u help me that this loan emi will not be deduct from my account till June

  141. I have Personal loan from IDFC and as per guideline from RBI there is no need to pay EMIs for next 3 months. But today only I received massage that keep balace in ur account which suppose to deduct on 1st of every month. Please guide me on this as soon as possible.

    • Don’t take any tensions…nothing will happen.u and cibil score….don’t pay EMIs till 3 months…if any one forcing..tell them to collect from RBI chairman…or PM of India…or Chief Minister of state…even I have monthly EMIs of 21000/- thousand…I will not going to pay…johoga dekha jayega…cashbean..kissth…u cash..cashbus..nanocred..sabka hai 15 days…I m not going to pay..

  142. After rbis advice to bank still Bajaj finance is sending SMS to pay EMI on 2/4/2020… How can I pay when there is no business to me…

  143. What is the system? means EMI will skip by 3 month and we will repay it after our tenure ends or we have to pay it immediately after 3 month together or what?
    Please explain clearly that, when we have to repay the coming 3 months EMI? (As you declared that we don’t have to pay EMI for coming 3 month)
    Aftet three month OR end of the tenure.

    Expecting answer at the earliest.

    Thank You !

  144. My tree lone emi pad in 10 day .I am locked in my home.pls halp .rision corona.my city is lock down

  145. Still we are getting sms from Idfc bank that your emi will be debited on 02/04/2020 please help us we dont have jobs we are unable to pay this please take some hard decisions on this to make relief.

  146. The lending app like cashe is still debiting the amount. Including the following month EMI also. I paid for March. The took for April emi in ecs also.

    Not they are not refunding if asked.

    Any portal to raise the complain to RBI.

    Please help it off 15k amount. So it’s being my hole salary they too off.

  148. Kindly confirm, is it applicable to the personal loans also??
    Will the bank deduct the EMI automatically from the account on due date or not??

  149. I have a loan from homecradit and also from dhani so I have to pay or it will get extend for 3months

  151. When they are giving three months moretorium than why interest have to bear for these three months because tenure will be automatically extended for another three months..

  152. Will I have to pay emis I have my Activa emi Bajaj emi free loan emi will I have to puly or I will get relief for corona

  153. Hi sir IAM allso take money in moneywow
    This People call me now he told today 2pm you will not I will call your all contacts this gay hake my mobile wat I do sir

  155. Still they do are sending repay the loan to what to do sir the bank name is IDFC ,mobikiwk,kredit bee,kishat please tell us what to do I have not missed one payment also know I m not having any job give me some suggestions … please it’s very urgent

    • Taken small from money wow rapid rupee robocash they continue calling pls help sir penalty on over due please help

    • I have taken HBL from LIC Housing finance and didn’t apply for three months moderation.I also not in a situation to pay my EMI .
      LICHFL issuing cheque , and it gets bouncing.
      What will happen after three month of my account remain insufficient fund and issuing cheques getting bounced
      My email – dibyendusarkarpdsv@gmail.com
      Phone – 9434425256

  156. Is it till 30th June as menntioned above in the second para of the above article or till 31st May. Kindly Clarify as we are dealing with a very sensitive issue here.

  158. Bajaj as IDFC loan is going on we have pay due date is 02.04.20 company has giving message u have to keep balance in your account

  159. Bajaj emi company is given message you have keep
    Balance in your account emi will go on 2.04.20
    I am a driver working In daliy basic tell now
    Company has not given any advance payment or salary tell now how it is possible to pay we are poor
    People I am liking in mumbai room rent is 2500 as
    Tv emi is going every month 2600 as refergereter
    1900 how it is possible to tell now any private person as state government as center government not get any help for food hole family is with me in mumbai government have to do some thing about this JAI HIND

  160. Hi, I taken Emi from Bajaj finserv, Will i get the relief for 3 months, Situation is worst due to the Corona virus, All the payments are stucked, Everything is Locked down, Please help me, what should I do….

  161. Kreditbee and cashbean asks for repayment.. do we have to pay their 15 days loan.?? I’m not able to pay on this situation .. please help.. they send sms to repay the loan amount.. what to do now??

  163. I am Pvt employee and I have home loan with my HDFC bank. should I have to give to my bank to stop my ECS for March 20 EMI?

    • Your Bank a/c ****8479 will be debited for Rs.10197.15 towards payment of HDFCBank CreditCard ending 7599 on 02/APR/2020. Kindly ignore if paid.

      Im getting this from hdfc bank i dont have this credit card because i have taken jumbo on credit card so from march 21st onwards lock down how i pay this amount pls tell me sir

  164. Cash bean is sending messages and calls to repay the loan.do not they fall under RBI rules to give time for the current situation.

  165. my. name. Jagveer singh.
    mobile. no 8288910747.
    email id. Jagveerthakur93@gmail.com
    sir my. loan 3 apps.( 15 day. repayment all app)
    app name.pop cash .4560 Rs. loan .
    supar rupees .5056 Rs loan.
    robo cash 3600 Rs loan.
    sir. all. work. is did. this. crona virs. 21 day
    plzz. sir. resolve. my. issue. compny. is call. and. sms. me and. my all contact. plzzz. help. me sir

    • Just tell them you can’t pay.. block their calls (install true caller). Anyways no body is coming to your home to collect it. till the time you have proper fund in hand. See you have to pay sometime or other. But did you dont have it now then just stall them till you have the fund.. app or no app or any other bank will charge intrest on your loan. It just that it won’t affect your cibil score.

    • Same problem for me..emi is also going fr me in axis bank.if u know any information about postponement n axis bank,pls inform me…

  169. Personal loan EMI deducted automatically from my account icici . Will that be also an exemption????

    Private bank not confirmed forward dates of loans emi

  170. Our emi gets deducted automatically from my account icici . Will that be also an exemption????

    Private bank not confirmed forward dates of loans emi

  171. My emi gets deducted automatically from my account icici . Will that be also an exemption????

    Private bank not confirmed forward dates of loans emi

  172. Sir, I bought a mobile phone from a retailer through BAJAJ FINSERV NO COST EMI POLICY.It will be charged each month 1st date from my BANK OF BARODA account.my next payment date is 01.04.2020 during the lockdown and I noticed RBI Notice regarding Loans and EMI date extended that is so much helpful for this sutation.but my queries is it is applicable for My EMI policies ?

  174. Dear sir.
    I have taken loan from kreditbee personal loan and Bajaj finserve personal loan +fridge loan . Did I have to pay kreditbee and Bajaj finserve loan next month emi.please tell me sir.

    • I have also consumer durable loan from capital first and bajaj finserv should i pay emi or not

    • Yes.. they send sms and calls.. please help us.. we r not able to pay this 15 days loan .. my on going loan is with kreditbee and cashbean also.. please help..

  177. Please add KreditBee cash bean, smart coin.we r not able to do work in these lock down days, they r adding too much penalties,job holders will get salary, daily wage income people how can adjust money in this type of crisis.common people suffering a lot sir. Please do needful, add these type of loans sir, thank you

  178. I just got a call from cashbean customer executive and they asked me about my due payment, what should i do now??

  179. Hello, I have a personal loan from Bajaj finserv. Can I get the relief for 2 months at least? Situation is really tight due to the Corona virus. All the payments are stucked.

  180. Dear sir

    I have a credit card due falling on 28.3.2020. if I m not paying by that date , will late fee or finance charges will be charged ?

  183. I took loans from moneytap and moneyview , I got SMS from moneytap saying RBI moratorium will not affected, need to pay EMI on my respective date. Why is it so??

  184. How I should opt for deferment as I am getting dues notification message daily, and when I call to bank there are no options through which you can talk to customer care.
    How will we come to know that we have been granted deferment.
    In current scenario, if we don’t pay our dues , we will have to bear the late fees, daily interest and all.
    Please explain this.

  185. What about the emi for personal loan and consumer durable like mobile phones etc. Are they include in moratorium please elaborate on this.

  186. Hey please let me know the charges of ecs bounce will be charged of rs 450 in account or not

  187. Cashbean, Kreditbee, Dhani, Kissht, and any other NBFC

    We are getting message from these company’s to pay amount immedaitely.

    What we have to do as per RBI rules…

    Cashbean they are getting Rs.300 extra for Rs.2000 i mean received Rs.2000 and i have to pay Rs. 2300 for 15 Days

    • BHAI EK BAT BOLU YE CADHBEAN KA LOAN LENA TAL DO…WO BAHUT BURA APP HE…ME USKE CHUNGAL BACHA HU…AAP BHI EK BAR HIMAT KARKE USKA PAYMENT KARDO…OR KABHI LOAN MAT LENA

  188. What about micro finances like cashbean zoom cash tenures they sending messages and doing calls

  191. Sir this is a very good decision .but this decision available in cash been kreditbee also ..plz tell me sir..

      • Why not they all wrote registered by RBI and NBFC on their app. If they force customer to pay loan emi then report them to Bank lokpal or RBI or to govt of India.

      • Instalments will include the following payments falling due from March 1, 2020 to May 31, 2020: (i) principal and/or interest components; (ii) bullet repayments; (iii) Equated Monthly instalments; (iv) credit card dues,” said the RBI notification.

      • I had borrow a loan from online finance company that is creditbee, there is two instalment about this loan. And tomorrow is the due date of first emi. I want to clarify can I get help of moratorium against my loan?

      • I had borrow a loan from online finance company that is kreditbee, there is two instalment about this loan. And tomorrow is the due date of first emi. I want to clarify can I get help of moratorium against my loan?

  195. What Is the case for the people whose EMIs are automatically debited from their accounts every month?

  196. Mr Governor , it all looks good to the eyes and then you realize the ambiguity. Why not simply simplify the process of deferring EMI’s for 3 months then giving the banks a choice? Do the banks ask us before reducing our deposit rates? I am sure by now our FD rates are cut automatically!

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