Announcement on Moratorium
In view of the RBI announcement of 3-month EMI moratorium on account of the fall-out of the COVID-19 pandemic, we are pleased to grant automatic moratorium of 3 months to our customers on payment of monthly instalments falling due from March 1, 2020 to May 31, 2020
In case you have already paid your EMI due in March 2020, we would adjust it against your EMI due in June 2020 thereby ensuring three months of moratorium to you.
All customers whose loan is classified as ‘Standard’ (Loan days past due not exceeding 90 days) in IndoStar’s books as on 29th Feb 2020 are eligible for the moratorium. The interest will be levied at the prevailing rate of interest for the period of EMI moratorium on the loan outstanding. Such interest will be collected by extending the original tenor of the loan by three months. Your revised repayment schedule will be shortly shared with you.
For more information related to the moratorium policy please click on the given link FAQs.
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