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Apply OnlineCOVID 19-Payment Moratorium Policy
EMI Moratorium


EMI Moratorium
Extension of Repayment Moratorium Facility
Background and Objective
The prolonged lockdown caused by Covid-19 pandemic has brought about a major setback to the business operations almost across all the sectors and industries. The operating and working capital cycles have been affected severely and the cash-flow and earnings of quite a few of the borrowers have been obstructed, thereby impacting their ability to service the loans.
In order to provide an immediate relief to borrowers from their repayment obligations, the Reserve Bank of India had announced a relief package to mitigate the burden of debt servicing and had announced certain measures through its initial circular dated March 27, 2020 and bearing number RBI/2019-20/ 186 DOR.No.BP.BC.47/21.04.048/2019-20 (“RBI COVID-19 Circular”), through which RBI allowed the deferment of repayment of EMI/PEMI due between 1st Mar 2020 to 30th May 2020.
But the extension of the social and economic lockdown with liquidity and financial blockade and its further continuation had pushed a case for further relief and taking cognizance of this, the Reserve Bank Of India through its circular No. RBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 dated May 23, 2020 has announced the permission for further extension of this moratorium facility to the eligible borrowers
Board of Directors of Indiabulls Housing Finance Ltd (IHFL) has approved the revised moratorium policy as described below
Eligible Borrowers
This policy shall be applicable to all term loans and/or working capital facilities outstanding as on March 1, 2020
Key highlights of policy
- The moratorium / deferment of repayment shall be applicable for EMI/PEMI due between further extended period from June 1, 2020 to August 31, 2020 (initial deferment was allowed for EMI /PEMI falling due in 1st Mar 2020 to 30th May 2020)
- Interest shall continue to accrue during the moratorium period and the borrower will be liable to pay this accrued interest as per fresh amortisation drawn by IHFL.
- This interest recovery can be done either by extending the balance term or by increasing the EMI or both as feasible to IHFL.
- In case of any working capital facility, the accumulated accrued interest shall be payable by the borrower(s) immediately after the completion of the moratorium period.
- Such deferments will not be considered as a default or delay in payment and shall not adversely impact the credit history of the borrower.
- Borrower will have to apply for EMI/PEMI moratorium through appropriate mode as prescribed on the IHFL website.
- IHFL will review the application/request of moratorium which shall be offered to the eligible borrowers keeping in view, inter alia, the credit & risk parameters of the borrower and any other related factors.