The Reserve Bank of India (RBI) clearly mentioned that all lending institutions, including banks and housing finance companies, will have to give its borrowers a three-month moratorium on term loans.
The moratorium was for payment of all instalments falling due between March 1 and May 31, 2020. According to the Reserve Bank, the deferred instalments under the moratorium will include principal and/or interest components, bullet repayments, equated monthly instalments (EMIs) and credit card dues.
Here are the details on loan EMI moratorium released by Paisa Online :