Bajaj Finance Ltd. is offering moratorium to customers with a consistent loan repayment track record. To become eligible for a moratorium, customers should have no more than 2 EMIs due in any of their loans as of February 29, 2020.
For which months' EMIs can I request a moratorium?
Customers can request a moratorium on EMIs that are due in March, April and May 2020.
Will the moratorium be applicable in case of new loans sanctioned after March 1, 2020, i.e., during the lockdown period?
Yes, you can avail of the moratorium for EMIs due for payment between March, April and May 2020.
How can I place a request for a moratorium?
You can raise a request for a moratorium by following these steps-
Step 1- Click here to raise a request for a moratorium
Step 2- Login and authenticate yourself
Step 3- Select "Covid-19 Moratorium Policy" from the product dropdown in the "Raise a request" section
Step 4- Select your loan details and read the terms and conditions carefully
Step 5- Submit the request after agreeing to the terms and conditions
Alternatively, you can also write to us at email@example.com with the details of your loan account and the reason(s) for requesting the same
When can I place a request for a moratorium?
You need to raise a request at least seven days before your loan EMI due date.
How do I know if my request for a moratorium has been accepted?
After receiving your request, we will get in touch with you if your request has been accepted. We will also inform you of the applicable interest and all the terms and conditions suitable for the moratorium.
Will I be given a moratorium for all my loans active with Bajaj Finance Ltd, and would I need to provide separate requests for each loan?
You are eligible for a moratorium if you have a consistent loan repayment track record and do not have more than 2 EMIs pending in any of your loans with Bajaj Finance Limited. You will get a moratorium for all your loans that are active with us. All you have to do is raise a single request to avail of the moratorium for all such loans. You must provide details of your loan account numbers and confirm that you are ready to bear the applicable interest for the moratorium period.
How will the treatment of my loan be after the moratorium period?
If you avail of the EMI moratorium, there will be a contracted rate of interest levied on the loan outstanding for the period of the EMI moratorium. Such interest will be collected by extending the original tenor of the loan accordingly.