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Coronavirus: Some PSU banks defer payment of EMIs on term loans – Deccan Herald

In the view of coronavirus outbreak, some of the PSU banks have decided to give some relief to its customers regarding payments of instalments and interests on term loans.

Also read: Confusion prevails among borrowers over three-month moratorium as many get EMI reminders

Multiple PSU banks have decided to provide a moratorium of three months on payments of instalments and interest on term loans falling due between March 1 to May 31.

PNB presents relief scheme for our customers. In view of COVID-19, it has been decided to defer payment of all installments on term loan and recovery of interest on cash credit facilities falling due between March 01,2020 and May 31 [email protected]_India @dfsfightscorona pic.twitter.com/dHRvu5luXb

— Punjab National Bank (@pnbindia) March 31, 2020

In view of COVID-19 pandemic, OBC provides moratorium of 3 months on payments of instalments/interest falling due between 01.03.20 to 31.05.20 for term loans and working capital facilities & allowing easing of working capital financing. @DFS_India @nsitharaman @PMOIndia

— OBC India (@OBCIndOfficial) March 31, 2020

In terms of Covid 19- RBI package, borrowers are eligible for moratorium/ deferment of installments/EMI for Term loans falling due from 01.03.2020 to 31.05.2020 & repayment period gets extended accordingly. SMS also has been sent to customers to avail the same. @DFS_India #COVID pic.twitter.com/NGuw1pARiv

— Canara Bank (@canarabank) March 31, 2020

1/3 Based on the recent COVID-19 Regulatory Package announced by RBI, we have implemented the following relief measures-
Allowing moratorium of 3 months on payment of installments in Term Loans, which include (i) principal and / or interest components @DFS_India @FinMinIndia

— Central Bank of India (@centralbank_in) March 31, 2020

#BankofBaroda is providing a moratorium of 3 months on payment of all instalments falling due between 01.03.20 & 31.05.20 for all term loans including Corporate, MSME, Agriculture, Retail, Housing, Auto, Personal loans, etc. in pursuance of the RBI COVID-19 Regulatory Package.

— Bank of Baroda (@bankofbaroda) March 31, 2020