Private lender HDFC Bank has announced deferment of EMIs in the wake of the coronavirus pandemic.
In a written communication on Wednesday, the lender informed its customers pertaining to the development announced due to the crisis situation which is posing a huge challenge for people at large.
“In line with the RBI guidelines and to show our solidarity, HDFC Bank is offering its customers EMI moratorium as a relief measure.
“You can defer your EMIs/loan installments and credit card dues up to 3 months,” the bank said.image.
The lender said its debit card holder customers will now be able to withdraw cash from any ATM and it will be extending the moratorium for three months, giving their customers an extended time to pay EMIs and interest on working capital loans by small businesses or MSMEs.
These initiatives are part of RBI’s mega liquidity booster measures announced on Friday as the coronavirus lockdown has hindered almost every economic activity in the country.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
