5 things to know about 3-month EMI moratorium offer by RBI

1. Three months moratorium on loans by RBI means that borrowers can skip their monthly instalments which are due from 1 March 2020 to 31 May 2020.

2. It includes all loans including home loan, personal loans, education loan, auto loan, working capital loan, credit card dues etc.

3. Interest is not waived off and will continue to accrue on the outstanding amount.


4. Borrower will have to pay additional interest for 3 months by either increasing the amount per instalment or number of instalments.

5. This deferment will not result in negative impact on credit score for individuals or credit downgrade or default for corporates.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)