RBI moratorium
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Mr. Yagnesh Shah – Banking Analyst has given a virtual interview to Appletimes and highlighted some interesting facts on Moratorium which is the current most on going topic across the Indian borrowers.

As he stated, A moratorium is an act of suspending an activity (a legal authorization to debtors to postpone payment). People usually take a loan from a bank or other financial institution, which has to be repaid with interest. In some adverse circumstances, the borrower is sometimes given a grace period by a bank or other financial institution, during which there is no need to pay a monthly installment, which is called a moratorium. During this time only the installment is exempted but the installment is not waived. This scheme is not a waiver scheme. The interest will be added to your principal amount for the period for which you have availed the benefit of the mortuary. With the benefit of this scheme, you will have to pay more installments of the loan.

Let’s understand the example.
Loan amount Rs 1,500,000
Interest rate 15%
Monthly installment 19976
Duration 180 months
Moratorium 3 Months
The new period will become 203 months ( if you obtain Moratorium facility)
An increase of about twenty-three installments. and Increase of amount Rs. 459,448 in the total payment.

According to Mr. Yagnesh Shah, “If you have taken a moratorium facility, pay the installment on time to avoid overpayment. If you pay the moratorium time installments now, there will be no penalty or additional interest.

2 thoughts on “Yagnesh Shah shows some intellectual facts on Moratorium.”
  1. […] total of ₹3-lakh crore has been allocated for this. These loans will have a 4-year tenure with a moratorium period of 12 months on the principal repayment and capped interest. No guarantee fee, no fresh […]

  2. […] Yagnesh Shah also said that A housing loan is known as a mortgage loan. Anyone with an income is entitled to a housing loan. Housing loans are currently available through nationalized banks, private banks, non-banking finance companies, and housing finance companies. Housing loans include loans to buy a new house (from subdivision), to buy a ready-made house (real), to repair a house, to build an upper floor, and to buy a plot and build a house on it. Private banks are now also operating to compete with state-owned banks. In-proof and in-proof customers are also eligible for housing loans. Non-banking finance companies such as FedBank Financial Services offer affordable housing and mortgage loan services in the market. […]

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