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The uncertainty brought about by the Covid-19 pandemic made people lose out on life and finance in huge measures across the country. This prompted RBI to act immediately and bring about relief measures to counter this destruction. As a result, banks and other financial were directed by RBI to grant EMI moratorium for a period of 6 months from March 1, 2020 – August 31, 2020, to their customers to help them tide over their financial exigencies.

Citibank also offered its customers who have availed of personal loans an EMI moratorium for period of 6 months between 1 March and 31 August 2020. The Covid-19 EMI moratorium scheme has ended and is no longer applicable at Citibank.

Relief Measures provided by Citibank under COVID-19 Moratorium

  • The EMI moratorium scheme is not mandatory 
  • Customers who are financially sound need not opt for it
  • Also, customers can voluntarily opt out of it
  • The credit score of customers who go for the EMI moratorium scheme will not get affected
  • Customers who opt for the EMI moratorium scheme get the benefit through deferment of their EMIs for a period of 6 months between March 1, 2020 - 31 August 2020.
  • Due to the EMI moratorium scheme, loan repayment period also got extended for customers benefitting them

Citibank  Personal Loan EMI Moratorium Eligibility

  • Citibank who had taken a personal loan before 1st March 2020 were automatically eligible for the EMI moratorium scheme.
  • Other Citibank customers who had outstanding loan payments prior to 1st March 2020 wre also considered for the scheme but at the discretion of Citibank.
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