According to RBI guidelines, banks are permitted to offer extension of moratorium on payment of loan installments or credit card dues which fall between the moratorium period. The moratorium period was extended to August 31,2020. Opting for the moratorium means deferment of your EMI payments. The repayment along with the accrued interest will resume from September 2020, once the moratorium period ends. 

If you have taken term loans like home loans, personal loans, auto loans,etc with Axis Bank, you will be able to OPT-IN for the moratorium. The OPT-IN will result in accumulated interest on the outstanding EMI amounts, which will increase your overall debt to the bank. If your cash flows are not impacted and if you are financially stable enough to pay your monthly EMIs, it is recommended to avoid the additional burden of having to pay accrued interest later on, and thus continue paying EMIs as usual.