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FAQ > Covid - 19, instalments relief FAQs

Covid - 19, instalments relief FAQs

Continuation of COVID 19 Relief Measure - FAQs Housing Loan, Loan Against Property, Auto Loan, Education Loan & Personal Loan

This scheme is intended for borrowers to mitigate the burden of debt servicing brought about by disruptions on account of Covid-19 pandemic and to ensure the continuity of viable businesses. There may be a temporary disruption in the Cash Flows, and in some cases loss of income, for the businesses/ individuals, the Scheme will bring relief to such borrowers. All those borrowers who have regular stream of cash flow should opt for continuation of the regular EMI.

1) What is the relief RBI has provided for retail loan under COVID 19 - regulatory package?

RBI vide its guidelines dated 23.05.2020 has permitted Bank to extend moratorium by another three months i.e. from June 1, 2020 to August 31, 2020 on payment of  instalments in respect of term loans. Hence Bank will not raise the instalment demand during this period and Borrowers availing this relief are not required to pay the Instalment during the period. Accordingly the repayment schedule for such loans as also the residual tenor will be shifted across the board.

2) What if I have already opted out of moratorium? Do I have to again opt out of the same for period June to August 2020?

No. Separate request for recovering EMIs for June to August will not be required and the EMIs will continue to be recovered.

3) What is the process to be followed for getting the benefit of instalment moratorium?

The scheme will be applicable to all standard term loans under Housing Loan, Loan against Property, Auto Loan, Education Loan & Personal Loan as on March 1, 2020, for borrowers who have already availed moratorium during the period March 2020/ April 2020 to May 2020.

4) Since the instalments are not to be paid, how will the loan be adjusted?

During the said moratorium period, Interest shall continue to accrue on the outstanding portion of the term loan. The Interest accrued during period of moratorium will be added to the outstanding loan amount at the end of the moratorium period and the repayment schedule for such loans will be reframed. Accordingly, the repayment schedule for such loans as also the residual tenor will be shifted across the board.

5) What will happen after the relief period /moratorium is completed?

Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period and will be added in the loan amount outstanding.  The repayment schedule for such loans will be reframed. This may result in either increased EMI or increased tenure of the loan or both.

6) How my total repayment will be impacted if I avail l moratorium of six months?

Please find below an illustration for various loan amounts where customer has availed moratorium for all six months from 1st March 2020   to 31st August 2020.

* Increase in total repayment amount after taking 6 months moratorium

Loan Amount




Rs. 20 Lakh

    Rs 2,53,217/-

     Rs 3,11,890/-

Rs  50 Lakh

    Rs 6,32,734/-

     Rs 7,80,749/-

* Assuming original repayment tenure of 240 months where customer has already paid for 60 months and remaining repayment tenure is 180 months.

7) Does this moratorium period affect my Credit rating?


8) What will happen to the accounts which are delinquent/ in default/overdue on or before 1st March 2020?

The instalments/other amount overdue on or before 29th February 2020 in any of the loan account will have to be paid in order to avoid down-gradation of account and slippage in credit rating in future.

9) What if my cash flow is no more impacted on account of Covid-19 and hence I  do not intend  to avail further moratorium and want to start making  EMI Payment ? (For customers who have availed moratorium up to May 2020 and now wish to start EMI recovery from June 2020)

Customer should request Bank to recover EMI by applying through IDBI Bank website at https://moratorium.idbibank.com/ or by responding to the SMS received from Bank for this purpose. After receipt of such requests from the customers, their EMI would be recovered by Bank.

10) What will be the Last date for opting out (continue to pay ) of the moratorium relief scheme?

The last date for opting out of the moratorium relief scheme has been extended till August 12 , 2020

11) Will the Scheme be applicable to term loans availed after March 1, 2020?

The loan account disbursed after March 1, 2020 will not be covered under the Scheme.

12) Will there be any late payment charges or additional interest charge during the moratorium period on the instalment not paid?

Bank will not be levying any charges of late payment or additional interest during the moratorium period for the accounts granted with moratorium relief.

13) Will the moratorium period be considered in Education Loan where moratorium as per scheme is already availed?

  • Bullet  Moratorium relief will not be applicable where the loan is currently under moratorium provided under the scheme without any obligation to pay interest.
  • Bullet  Education loan cases where borrower has opted for interest payment during moratorium the moratorium relief will be provided on the interest payment during the period.
  • Bullet  Education loan cases where EMI has already commenced the moratorium relief will be available on the instalments payable during 1st March 2020 to 31st May 2020 and between 1st June 2020 to 31st August 2020 unless customer Opts out (continue to pay).

14) I have availed LAP-OD (Loan against property Overdraft)/ LAS (Loan against securities) from Bank. Is the moratorium relief scheme applicable for these loans?

In respect of working capital facilities sanctioned in the form of LAPOD and LAS accounts, Bank shall allow deferment of payment of interest accrued for period of moratorium i.e June 1 ,2020 to August 2020 . You can avail moratorium by submitting a request through an email communication to the nearest branch/ Retail Asset Centre of Bank .The interest amount so deferred will be recovered upfront after the moratorium period is over. Alternatively, the interest so accrued can be converted into another loan viz. Funded Interest Term Loan (FITL) which will be recovered in monthly instalments to be fully repaid by March 31, 2021. Such FITL shall also carry interest.

15) What if I have paid my  EMIs during March 20 to May 20 but now facing financial difficulty due to COVID -19 pandemic?  Will there be a facility for availing moratorium scheme now for the balance period June 2020 to August 2020?

Yes. Customers who have paid EMIs during March 2020 to May 2020 and wish to avail moratorium relief for the balance period June 2020 to August 2020 can do so by submitting a request through an email communication to the nearest branch/ Retail Asset Centre of Bank. Such a request should contain all details such as loan account number, name of the borrower  customer ID  and months for which moratorium is required.  Such a request will be made effective for instalments falling due prospectively. He shall be permitted moratorium for the period June 1, 2020 to August 31, 2020 only.

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