No, opting for the moratorium/repayment holiday will not impact your credit score and if you don’t make payments during that time it won’t be reported to the credit bureau. However, if you fail to make payments after the moratorium gets over, your credit score will take a hit. The moratorium period is from March 1, 2020 to May 31,2020. So right after the moratorium gets over, any payments due on or after June 1,2020 would have to be paid. But people who don’t opt for the repayment holiday would have to make their payments on time or their credit scores will get affected.

The repayment holiday was introduced to bring relief for those who are having financial hardships due to layoffs and pay cuts due to the COVID-19 pandemic. People who are able to make the payments without facing difficulties can go ahead and follow their regular repayment schedule. Even though you wouldn’t have to make loan payments during the moratorium period, interest will continue to accrue on the loan. So you would end up paying additional interest.