• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

HDFC loan moratorium explained

|

New Delhi, Apr 02: HDFC Bank has offered to defer EMIs in the wake of the coronavirus pandemic.

The bank in an email to its customers said the prevailing situation may pose a huge challenge for people at large. "In line with the RBI guidelines and to show our solidarity, HDFC Bank is offering its customers EMI moratorium as a relief measure.

HDFC loan moratorium explained

"You can defer your EMIs/loan installments and credit card dues up to 3 months," the bank said.

The bank said its debit card holder customers can now withdraw cash from any ATM without charges till June 30.

Explained: Why it is not a good idea to opt for the 3 month moratorium on EMIs

"There won't be any cap on the number of withdrawals or other transactions done at the ATM including declined transactions," it said.

"We will also waive the minimum monthly/quarterly balance requirements for the savings and current account holders for four months - from March to June 2020. These customers will be sent a separate communication," the lender added.

All the public sector lenders on Tuesday announced they will be extending the moratorium for three months, giving their customers a window to pay EMIs and interest on working capital loans by small businesses or MSMEs.

These measures are part of RBI's mega liquidity booster announced on Friday as the coronavirus lockdown has crippled almost every economic activity in the country.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more