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The Covid-19 pandemic had wrought great difficulties on the Indian population in  terms of public health and economy. This made the Reserve Bank of India (RBI) come up with relief measures to help people deal with their financial crisis under such a situation by directing financial institutions to give EMI moratorium for a period of 6 months to its own customers.

HDFC Bank had also provided benefit under the EMI moratorium scheme on the payment of personal loan EMIs of its customers by deferring the EMI payments for a period of 6 months between 1 March and 31 August 2020. This facility is no longer available with HDFC Bank.

Relief Measures Offered under the HDFC Bank COVID-19 Moratorium

  • The EMI moratorium is not mandatory. So, HDFC  customer has the right to not opt for the moratorium
  • If a customer had opted for the moratorium, then they could avail deferment of their  EMI payments for a period of 6 months from March 1, 2020 - 31 August 2020.
  • The  loan repayment period was extended for the customer based on the moratorium scheme

HDFC Bank Personal Loan EMI Moratorium Eligibility

The eligibility criteria for the HDFC Bank Personal EMI Moratorium can be listed as follows:

  • Personal Loan customers who took a loan before 1 March 2020 were eligible for the EMI moratorium.
  • Other customers were considered based on their EMI repayment on a timely basis prior to  1 March 2020, and such consideration was also based on the discretion of HDFC Bank.
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