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Moratorium On Loan Repayments Extended By Another 3 Months

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Considering the extension of the lockdown and the financial crunch of the citizens, RBI has permitted banks to further extend the moratorium on term loan installments by 3 more months (from June 1, 2020, to August 31, 2020). If there had been no extension, the moratorium on EMIs would have ended by May 30, 2020. Since the moratorium has been expended by another 3 months, your loan will not be classified as non-performing and also, it will not have any impact on your credit score. Watch this video to know more details regarding this moratorium extension on loan repayments.


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