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Due to the crisis brought by the Covid-19 pandemic on life and finance on the Indian population, RBI had come up with relief measures in the form of EMI moratorium period from 1 March 2020 - 31 August 2020.

As part of this directive, banks and other financial institutions in India had been asked to follow the terms of the scheme and grant its customers an EMI moratorium for a period of 6 months. Bank of Baroda also partook part in this scheme and offered its customers benefits in the form of an EMI moratorium for period of 6 months between 1 March and 31 August 2020. This facility has ended and is no longer available.

Relief Measures provided by Bank of Baroda under COVID-19 Moratorium

  • EMI moratorium is not compulsory. This indicates that those Bank of Baroda customers who do not want to go for the scheme can voluntarily opt out of it.
  • Those customers who have considered the  EMI  moratorium scheme get the benefit of EMI deferment for a period of 6 months between March 1, 2020 - 31 August 2020.
  • Based on the EMI moratorium scheme, the loan repayment period was extended for the customer.

Bank of Baroda Personal Loan EMI Moratorium Eligibility

  • Any customer of Bank of Baroda who has taken loans including home loan, vehicle loans and the like before 1 March 2020 were eligible for the EMI moratorium scheme
  • All others customers could also apply for the EMI moratorium scheme provided they had been regular in their EMI repayment before 1 March 2020. The bank kept the discretion of selecting such customers for the scheme.
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