Moratorium EMI Calculator

Once the moratorium has been applied to a borrower’s loan account, it cannot be reversed. However, any amount paid later will be adjusted towards the principal outstanding, and its effect will be passed on to the tenure.

The EMI amount paid is adjusted towards principal outstanding. Since you had applied for moratorium, interest on the principal outstanding during the moratorium period gets accrued and a new repayment schedule is drawn. Now, since you have made the payment of 3 EMIs, the same will be credited towards principal outstanding and accordingly, the effect will be passed on the tenure. However, please note that once a moratorium request has been accepted and processed, it cannot be reversed.

Please click here for any further clarifications pertaining to moratorium.

If you opt for a moratorium, you will not have to make your usual EMI payments for the selected period. So if your EMI date was Jun 30, 2020 and you opt for a moratorium of 1 month, your next EMI payment date would now be Jul 30, 2020.

NOTE: As per our policy, if you wish to defer your EMIs between June – Aug, 2020; you may do so only one month at a time.

For customers of Fullerton India, the moratorium can be availed by all customers who have outstanding EMIs after Mar 01, 2020. Thus, you may be salaried, self – employed, or a business owner – and the moratorium will be applicable to you. The moratorium is also applicable for business entities including proprietorships, Ltd. companies, partnerships, etc.

No. In order to avail the moratorium, you will need to submit a request for the same. You will be granted the moratorium only after your request has been approved. ECS/ collections for customers who have not submitted a request and/or whose request has not been approved will continue as per schedule, and non-payment of EMIs in such a case will be taken as a default.

If you opt for a moratorium, your next EMI date will get deferred. Your tenure will get extended by the number of months of moratorium you take. Thus, if your loan was supposed to mature on Dec 01, 2020 and you now opt for a moratorium for 1 month, your loan maturity date will now be after Jan 01, 2021, depending on how your loan tenure will change due to accrued interest.

At Fullerton India, we are extending the moratorium across all products of Fullerton India and Grihashakti.

To apply for the moratorium, please click here to submit a request. Your application will then be reviewed and moratorium may be granted depending on our evaluation and verification of the same.

No. You can choose to continue paying your EMIs as per the agreed upon schedule. For making your payment online, please visit https://payment.fullertonindia.com

There are no extra charges for availing the moratorium, however interest at the existing rate will be continue to be charged on the outstanding principal amount for the moratorium period, which will keep getting accrued.

Thus, if you had taken a loan of INR 500,000 for a period of 36 months, your monthly EMI amount would be INR 17,089. Let’s assume that the starting date was Mar 01, 2020 and the actual maturity date was Feb 01, 2023.

Now, if you have opted for a moratorium of 3 months, an additional INR 17,705 will be added to your principal outstanding. Thus, when your EMI repayments resume, your monthly EMI amount will continue to be INR 17,089. However, you will need to pay 1 more EMI in addition to the ones that were deferred to cover up the accrued interest charges, which means that your loan will now mature on Jun 01, 2023.

Alternatively, if you would like to keep the loan tenure the same, you will have to pay a revised EMI of INR 17,694 every month for the rest of the tenure.

No. If you choose to defer your EMI payments by opting for the RBI extended moratorium; then your CIBIL score will not get impacted. However, if you don’t pay your EMIs as per the revised schedule after the moratorium period, your credit bureau record will be impacted. Hence, we advise you to make a note of the revised schedule once you receive the same, and pay your EMIs on time. Please also note that you will need to apply for the moratorium to avail the facility. If you don’t submit a request, we will consider that you are choosing to pay your EMIs as per the original schedule. Any late payment / failure to pay the EMI in such a case will attract bounce / penal charges.

Technically, this RBI moratorium acts like an EMI Holiday in that it allows you to defer your EMI payments for the specified period. However, unlike an EMI Holiday, the RBI moratorium is applicable to all loan products. Also, the RBI moratorium is a special facility which has been extended by the Reserve Bank of India to all Indian borrowers during this period to help the nation cope with their financials in the face of the COVID-19 threat and challenges due to the lockdown.

No. The moratorium is a special facility to defer EMI payments. However, you will still need to pay the revised EMI amount post the moratorium period.

No. If you submit a request to avail the RBI moratorium for a specified period, which gets accepted, then you will not have to pay anything for that period. You will be given a new schedule with revised EMI and/or tenure, and your next payment will be as per the due date mentioned in the same.

Yes. The facility is available to all Fullerton India customers who apply for it, and includes customers of all our products. However, the moratorium will be granted based on evaluation and verification of the request and at the sole discretion of Fullerton India.

The moratorium is one of the tools extended to customers to help you tide over the challenges posed by the nationwide lockdown and the threat of the novel coronavirus. Here are a few things you may consider before you make your decision:

• Your Net Monthly Income – if this amount is going to be impacted as a result of the current situation, opting for the moratorium could relieve you of some of the financial stress
• Your monthly expenses – Have a good look at your budget for the next few months. Try to check if you can do away with some of the expenses which could help you repay your monthly obligations even in the face of a reduced monthly income.

On the other hand, if your net monthly income is not going to reduce to the extent of causing financial distress, it may be wiser to continue paying your EMIs as per the schedule and avoid the extra charges on accrued interest.

Yes, the moratorium scheme is available for all eligible customers, including those whose loans are not fully disbursed.

Yes, the moratorium scheme will be available for eligible customers who are currently paying pre-EMI, However the interest should be paid back or will be deducted before the final tranche of disbursal.

Despite rumours that may be circulating across various media channels, any decision pertaining to your loan is something which can only be taken by your lender. We advise you to contact your lender with regards to any such queries.

Please take note that since no group meetings are allowed during lockdown, collection of repayment will resume only after lockdown is over. During this time, if you want to repay your installments, you can do so online. Please visit our page to complete your EMI payment. We advise you avoid making any cash payments to the loan officer during the lockdown.

The moratorium is not compulsory. If you wish to repay, irrespective of your group members choice, you can choose to continue repaying your instalments. Please click here to pay your EMI online.

If you have already paid your EMI for a particular month via cheque / ECS debit facility, no refund will be issued even if you have applied for a moratorium for the same period. Hence, you are requested to apply for the moratorium facility on time within the specified dates for each month. Typically, you can apply for the moratorium for a particular month within the last 2-3 days of the previous month.