How to apply for EMI moratorium in SBI, HDFC, ICICI, Bajaj Finserv, AXIS and more?

Reserve Bank of India (RBI) declared on March 27, 2020, that all lending institutions, including banks and housing finance companies, will have to provide its borrowers a three-month moratorium on term loans. moratorium is available for payments of all instalments, including principal and/or interest components, bullet repayments, equated monthly instalments (EMIs) and credit card dues falling due between March 1, 2020, and May 31, 2020. This means that customers can choose to opt for a moratorium during this time of lockdown to avoid failing in payments of upcoming EMI dues.

What exactly is a moratorium?

A moratorium is t a loan or EMI waiver. A moratorium only allows a borrower to defer a loan instalment; in this case, by three months. That is, customers who have EMIs due between March 1 and May 31 can defer payments.

How to apply for EMI Moratorium?

customers can apply for loan EMI moratorium easily through mobile banking, internet banking and more. banks and housing finance companies have started providing moratorium for ir customers who want to opt for it during this lockdown period. However, process for availing moratorium may differ from bank to bank. Here is a step by step guide on how to apply for a moratorium in your bank. 

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How to apply for SBI EMI moratorium?

If you wish to avail moratorium,  here for SBI EMI moratorium link to raise a request for Moratorium.

• Go to State Bank of India’s Stop EMI website to downlo Annexure – I form.
• Fill form and send it in an email to specified email to specified email ID as per Annexure-II.
• If you have given standing instructions to SBI for payment of instalments or EMI, you can also send a handwritten application in same format to your home branch.

How to apply for Yes bank EMI moratorium?

If you wish to avail moratorium,  here for Yes Bank EMI moratorium link to raise a request for Moratorium.

• An SMS will be sent by Bank to your registered mobile number requesting you to ‘OPT IN’ for scheme. 
• You will have to on link provided in SMS and follow instructions if you choose to opt-in, on or before April 15, 2020 (unless orwise extended by Bank). 
• In case of n-receipt of SMS or email, you can avail moratorium benefit by accessing link here. In case your mobile number is t updated or registered with us, you can register here to avail COVID-19 Relief Pack benefit for your term loan and/or cash credit or OD facility(ies).

How to apply for Bajaj Finserv EMI moratorium?

If you wish to avail moratorium,  here for Bajaj Finserv EMI moratorium link to raise a request for Moratorium.

• You will need to login and aunticate yourself
• On 'raise a request' section, select “COVID-19 Moratorium Policy” option from product dropdown
• Select your loan details and re Terms & Conditions carefully
• If you agree with Terms & Conditions, submit request

A person can also write an email to Bajaj Finserv at wecare@bajajfinserv.in with your request for a moratorium. company will accordingly evaluate request based on defined policy and revert to you as soon as possible. 

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How to apply for ICICI Bank EMI moratorium?

If you wish to avail moratorium,   here for ICICI Bank EMI moratorium link to raise a request for Moratorium. A person can opt for  moratorium by ing on link shared by Bank through SMS or e-mail. You may also visit ICICI Bank's website www.icicibank.com. process for sending a request is simple- an individual just has to fill his or her Name, Mobile number, PAN card number and E-mail dress.

How to apply for HDFC bank EMI moratorium?

You will have to provide your consent to bank through any of following ways:

• Call on this number and follow instructions – 022-50042333, 022-50042211,
• here for HDFC bank EMI moratorium link to submit your request

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How to apply for Axis bank EMI moratorium?

Axis Bank EMI moratorium is completely based online. One can simply opt for Axis bank EMI moratorium link through this link effectively. process is simple to enter registered mobile number and fills im captcha on box and press submit. Once you receive an OTP or a confirmation SMS, continue furr procedure.

How to apply for Kotak Mahindra EMI moratorium?

Kotak Mahindra Bank also requires customers who wish to avail  moratorium to approach bank through e-mail. “All customers who desire to avail relief under policy can send an email from ir registered mail id to pay.later@kotak.com quoting Loan account number,” bank revealed in a statement.

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