SBI EMI Postponement and Impact Calculation ( Personal & Home Loans )

NOTICE: COVID-19 RELIEF MEASURES Corona Covid 19 Moratorium Loan EMI Postponement and Impact - Read Here corona-moratorium-loan-emi-postponement-impact-sbi-availment-forms-download
For SBI Home and other Loans:
In terms of RBI COVID 19 regulatory package, SBI has initiated steps to defer the instalments and interest/EMIs on Term Loans falling due between 01.03.2020 to 31.05.2020. Accordingly, the total repayment period will be extended by 3 months over the original repayment period.

Options for Customer:
Customer who do not want to defer recovery of instalments /EMI: No action is required. They may continue to pay in usual course.

Customer who wants to defer recovery of instalments/EMI: NACH – Where collections of such instalment / EMI is effected through National Automated Clearing House (NACH), please submit an Application (Annexure-I) along with mandate for NACH Extension-(Annexure-II) to stop NACH for these instalments through an e-mail to the specified email ID (Annexure-III).
Standing Instructions (SI) – Please submit an Application (Annexure-I) through an email to the specified email ID (Annexure-III).

Customers who want refund of the instalment/EMI already paid: Please submit an Application (Annexure-I) through an email to the specified mail ID (Annexure-III)

Effecting deferment of EMI/NACH/Refund may take approximately 7 working days. Please bear with us. Thanks for your cooperation.

Impact of Deferment: To enable you to take an informed decision, we furnish hereunder the impact of deferment:

Interest shall continue to accrue on the outstanding portion of the Term Loan during the moratorium period. The possible impact of the extension of the repayment period has been explained below:

Impact in case of Auto Loan – For a loan of Rs.6 Lacs with a remaining maturity of 54 months the additional interest payable would be Rs.19,000 approx. equal to additional 1.5 EMIs.

Impact in case of Home Loan – For a loan of Rs.30 Lacs with a remaining maturity of 15 years, the net additional interest would be approx. 2.34 Lacs equal to 8 EMIs.

SBI EMI మొరాటోరియం లెక్కింపు: టర్మ్ లోన్ EMIలను మరో మూడు నెలల వరకు వాయిదా వేయడానికి ఆర్బిఐ నిర్ణయం తీసుకున్న  తరువాత , స్టేట్ బ్యాంక్ ఆఫ్ ఇండియా తాత్కాలిక నిషేధాన్ని మరో మూడు నెలలు పొడిగించింది. అర్హతగల వినియోగదారుల యొక్క అన్ని రుణ ఖాతాలకు ఈ సౌకర్యం అందుబాటులో ఉంది. ఈ వారం ఒక ప్రకటనలో, ఎస్బిఐ తన అర్హత కలిగిన రుణ వినియోగదారులందరికీ జూన్, జూలై మరియు ఆగస్టు 2020 లో తగ్గుతున్న ఇఎంఐల కోసం వారి స్టాండింగ్ ఇన్స్ట్రక్షన్స్ (ఎస్ఐ) / నాచ్ ఆదేశాన్ని ఆపడానికి వారి సమ్మతిని పొందటానికి ముందుగానే చేరుతున్నట్లు తెలిపింది.

Home Loan and Vehicle Loan Details
1. మొదటి 3 నెలల EMI తాత్కాలిక నిషేధాన్ని పొందిన వారు మరియు మరో మూడు నెలలు పొడిగింపు కోరుకుంటున్నారు
15 సంవత్సరాల మెచ్యూరిటీతో రూ .30 లక్షల రుణం వల్ల సుమారు రూ .4.44 లక్షలు అదనపు వడ్డీ చెల్లించాల్సి ఉంటుందని, ఇది అదనపు 16 ఇఎంఐలకు సమానమని ఎస్‌బిఐ పేర్కొంది.
54 నెలల మెచ్యూరిటీతో రూ .6 లక్షల ఆటో loan ణం 3 అదనపు EMI చెల్లింపు లేదా సుమారు 36,000 రూపాయలు అదనంగా ఉంటుంది.
2. మొదటిసారి EMI తాత్కాలిక నిషేధాన్ని పొందాలనుకునే వారు
15 సంవత్సరాల మెచ్యూరిటీతో రూ .30 లక్షల రుణం 2.34 లక్షల అదనపు వడ్డీ చెల్లింపుకు దారి తీస్తుంది, ఇది అదనపు 8 ఇఎంఐలకు సమానం.
54 నెలల మెచ్యూరిటీతో రూ .6 లక్షల ఆటో loan ణం సుమారు రూ .19,000 అదనపు చెల్లింపుకు దారి తీస్తుంది, ఇది అదనపు 1.5 ఇఎంఐలకు సమానం.


Formats Download:

Annexure - I Deferment of Recovery of Instalment/EMI through NACH. Application can be downloaded or handwritten.
Annexure - II NACH Mandate
Annexure - III List of State/UT specific Email ID
Annexure - IV FAQ COVID-19 SBI Relief Measures

For HDFC Loan Customers

1.    What is the EMI moratorium provided for loans under COVID 19 - regulatory package?
The prevailing situation may pose a huge challenge for people at large. As a measure of solidarity, RBI has permitted all Indian Banks / Indian Financial Institutions to offer it’s customers up to 3 months moratorium on their EMI payments falling due between Mar 1st, 2020 to May 31st, 2020.

2.    Who is eligible?
All HDFC Bank customers who have availed of retail instalment loan or any other retail credit facilities prior to 1st March 2020 are eligible.
  -   Customers having overdues prior to 1st March 2020 may also opt for the moratorium, and their requests shall be considered by the bank based on its merits.

All Agri Loans (Kisan Gold Card) and Microfinance customers under the Bank’s Sustainable Livelihood Initiative are also eligible.

All Corporate as well as SME customers are also eligible. Our Relationship Managers will get in touch with you or you can contact them to get further details.

3.    What will happen if I choose the EMI Moratorium?
If you choose EMI moratorium,
  -   Bank will not ask for any EMI Payment till May 31st 2020.

  -   Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan.

  -   The loan tenure will get extended by the corresponding period for which the moratorium has been availed.

  -   For example, if the EMI for the month of Mar’2020 has been paid and moratorium for April & May’2020 has been availed, then the loan tenure will be extended by 2 months.

4.    If I do not want the EMI moratorium, what should I do?
If you do not want the EMI moratorium, no further action is required from your side. We will continue to bank your repayment instructions.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension. However, if you skip your EMI payment during this period, it is understood that you require EMI moratorium till May 2020.

5.    Why was my account debited when the RBI has announced a moratorium?
Opting for the Moratorium is entirely the customers’ choice. We understand that all our customers may not opt for the Moratorium given that there is an additional levy of interest payable under the terms of the Moratorium. If you wish to opt for the Moratorium, we would be happy to refund the EMI debited and register your Loan account under the Moratorium process.

6.    What charges will I pay, if I avail of this EMI moratorium?
If you avail the EMI moratorium, there will be a levy of interest at the contracted rate of the loan for the period of EMI moratorium on the loan outstanding. Such interest will be collected by extending the original tenor of the loan accordingly.

7.    How do I get this EMI moratorium?
You will have to provide your consent to the bank through any of the following ways:

  -  Call on this number and follow the instructions – 022-50042333, 022-50042211 ,

OR


  -  Submit your request in a few clicks here

Note: Keep your loan account number handy before you start the process..

8.    I have more than one loan from HDFC Bank (Eg. Personal Loan & Car Loan). Can I get EMI moratorium for both the loans?
Yes, you can opt for EMI moratorium for each loan that you have availed from us. Please remember that additional interest for the EMI moratorium period will be applicable for each loan separately.

9.    What if I have already paid my EMIs and would like to avail the moratorium till 31st May 2020.

You can avail of the moratorium benefits for the unpaid EMIs. Please follow the process given above for availing the moratorium
ICICI Bank Customers Click here

TATA CAPITAL
To - customercare@tatacapital.com
CC -  pankhaniya@tatacapital.com

Edelweiss 
To - homeservice@edelweissfin.com
CC - zahid.mohammed@edelweissfin.com

BAJAJ Finserv
To - wecare@bajajfinserv.in
CC - sonpal.garg@bajajfinserv.in

RBL Bank
To - customercare@rblbank.com
CC - Sudeep.Khinvsara@rblbank.com

SCB Bank 
To - customer.care@sc.com
CC - shivsundar.pandey@sc.com

Axis Bank
To - customer.care@axisbank.com
CC - amit208.kumar@axisbank.com

Indusind Bank
To -  Darshan.Gotpagar@indusind.com
CC -  Darshan.Gotpagar@indusind.com

Deutsche bank
To - premium.care@db.com
CC - patel.kira@db.com

Rattanindia 
To - wecare@rattanindia.in
CC - shailesh.zagade@rattanindia.in  & urmil.badami@rattanindia.in

IIFL
To - reach@iifl.com  & reach@indiainfoline.com
CC - vikas.talreja@iifl.com


Aditya Birla
To - care.finance@adityabirlacapital.com
CC - ravindra.katke@adityabirlacapital.com

Neogrowth
To - helpdesk@neogrowth.in
CC - mehal.gandhi@neogrowth.in  & shivani.sinha@neogrowth.in  & kuldeep.s@neogrowth.in

Magma 
To - sujit.ghorpade@magma.co.in
CC - saifulla.khan@magma.co.in

Clix Capital 
To - covid19.moratorium@clix.capital
CC - manish.chhabra@clix.capital

Fullerton India
To - namaste@fullertonindia.com  & ccrc@fullertonindia.com
CC - pradeep.tiwari1@fullertonindia.com & nilesh.mankame@fullertonindia.com

Shriramcity
To - grievance@shriramcity.com  & customercare@shriramcity.com
CC - vinit.dixit@shriramcity.com


IDFC First Bank
To - customer.care1@idfcfirstbank.com
CC -  pankajkumar.s@idfcfirstbank.com


HDFC Bank 
To - loansupport@hdfcbank.com
CC - prashant.aldangadi@hdfcbank.com

Indiabulls 
To - service_dhani@indiabulls.com
CC - shah.aa@indiabulls.com


ICICI Bank
To - customer.care@icicibank.com
CC -  roopam.bhandare@icicibank.com

Kotak Mahindra Bank
To - nilesh.anam@kotak.com
CC -nilesh.anam@kotak.com in

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