Coronavirus Pandemic: HDFC Bank offers EMI option to customers for 3 months

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.

HDFC Bank

“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.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for BFSI Webinars and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.