Disclaimer:The above moratorium EMI calculator is applicable across all products eligible for moratorium. Please note that these values are for demonstration purposes only, and the actual values may vary slightly. The moratorium will only be granted after you apply for a moratorium and the subsequent consideration, evaluation and verification of your request at the sole discretion of Fullerton India. Please view the moratorium policy for more details.
How to use moratorium EMI Calculator?
To understand how opting for a moratorium could affect your loan, please use the calculator as per the steps below.
- Enter your loan amount. This amount equals the loan amount that was sanctioned to you at the beginning of the loan.
- Enter the Rate of Interest. This is the same rate of interest which is currently being applied to your loan.
- Enter your loan tenure. This refers to the overall tenure as per the existing schedule.
- Enter the number of EMIs you had paid before Mar, 2020.
- Enter the number of months for which you had taken a moratorium between Mar – May, 2020. This can be 0, 1, 2 or 3 months.
- Enter the number of months for which you wish to take a moratorium between Jun - Aug, 2020. This can be 0, 1, 2 or 3 months.
- On the right hand side, please select an option from the drop down list. If you want to keep your EMI amount the same as per the original loan agreement, please select "No change in monthly EMI amount" from the dropdown. If you want to keep your tenure the same as per the original schedule, please select "No change in loan tenure".
- Depending on your choice, your monthly EMI, loan tenure and no. of EMIs post moratorium period will be displayed.
- If you choose to keep your monthly EMI amount the same, your loan tenure will increase. Similarly, if you choose to keep your loan tenure the same, your monthly EMI amount will increase. If you wish to change both EMI and tenure, please contact your nearest branch or call us today.
- This calculator will not be applicable if the terms of your loan (interest rate, tenure, etc.) had been readjusted prior to the moratorium period.
- This calculator has been provided to help you understand the effect of availing the moratorium facility and plan your finances accordingly.
- If you wish to avail the facility to defer your EMI payments between Jun – Aug, 2020; you may do so by applying on our website one month at a time. Please scroll below to read more on how to apply for a moratorium.
How to Apply for a Moratorium at Fullerton India?
To apply for a moratorium, the following eligibility criteria have to be satisfied.
- You must be a current customer of Fullerton India having outstanding loans as of Mar 01, 2020.
- Salaried/self-employed, Individual and non-individual borrowers (including Ltd companies, Partnerships & Proprietorships etc.) may apply
- The moratorium is applicable for customers of all kinds of Fullerton India loans.
- Your account can be Standard or otherwise and must not have been written-off from the books of FICCL books at end of the month preceding the month in which moratorium/deferment is requested for
- You must submit consent for terms and conditions governing the moratorium and for the revised repayment schedule.
- Your dues upto the previous month should be fully paid. For instance, if you want to avail the moratorium for June 2020, then all your payments (EMIs as well as any other charges) as of May 31, 2020 should be complete. Alternatively, your moratorium request for Mar – May, 2020 should have been approved.
In light of the lockdown to check the spread of COVID – 19 virus, as you are aware, the RBI had declared a moratorium for all borrowers (individual and non-individual) of 3 months initially. As per the circular on May 22, 2020; this facility has been further extended for another 3 months till Aug 31, 2020.
At Fullerton India, we sincerely hope that you and your family are healthy and are following the safety precautions as instructed by the authorities. However, we also understand that the nation-wide lockdown rules may have caused quite a few challenges - socially and financially.
Fullerton India is wholly committed to ensuring that all our customers utilise this time to focus on the well-being of themselves as well as their families. In order to make this happen, we are extending the option of taking a moratorium on your Fullerton India term loan. However, please note that this facility should only be availed by borrowers who are under financial stress. If you can pay your EMIs as per the original schedule, we strongly encourage you to do so and not avail the moratorium facility, as the interest would continue to get accrued during the moratorium period, thereby increasing the overall interest payable on your loan.
The RBI moratorium ended on Aug 31, 2020. From Sep 01, 2020 borrowers will have to start repaying their loans as per the latest schedule provided. As of now, there has been no further announcement on any extension of this facility.
Interested in Personal Loan Balance Transfer?
If you are currently not a customer of Fullerton India and want to transfer your outstanding Personal Loan from your current lender to Fullerton India, then check out benefits of personal loan balance transfer. Alternatively you can use our personal loan balance transfer calculator to calculate the savings on your EMI as well as interest payable.
If you are an existing customer of Fullerton India, learn about our top-up loan facility.