Check out how to use moratorium EMI calculator in a few simple steps.

Step 1 – Fill in the initial loan amount sanctioned to you.

Step 2 – Enter the rate of interest currently applicable to your personal loan.

Step 3 – Provide your repayment tenor as per the current schedule.

Step 4 – Next, enter the number of EMIs (Equated Monthly Instalments) already paid towards your total loan liability

Step 5 – Select the number of months you opted for a moratorium between March and May 2020, if any. You can forego this step or select ‘0’ if you did not opt for a moratorium in this period.

Step 6 – Choose the number of months for which you plan to opt for a moratorium between June and August.

Step 7 – If you wish to keep your EMIs for the outstanding loan liability the same as earlier, choose your option accordingly.

Step 8 – Also, fill in all necessary details regarding the loan tenor changes. You can also opt to keep your loan repayment tenor same as in the initial amortisation schedule.

Once you have completed these steps, the Bajaj Finserv Moratorium Calculator will compute the following results based on the information fed:

1. The amount of EMI payable
2. Total number of EMIs payable post-moratorium
3. Remaining repayment tenor as per the new schedule
4. Total moratorium interest calculation
5. Outstanding repayment liability post-moratorium

When using the EMI calculator with moratorium period, the following effects are essential to note:

• If you opt to keep your loan tenor unchanged, it results in an increase in EMIs payable.
• If the EMI amount is kept unchanged, it results in an extended repayment tenor.
• In the case of changes in both loan tenor and amount of EMIs payable, you can check with your lender regarding the impact of such moratorium on your loan liability and repayment schedule.

How to Apply for Moratorium on Your Personal Loan?

Apply for a personal loan moratorium with Bajaj Finserv by following these simple steps:

1. Login to our customer portal, Experia and authenticate yourself.
2. Select "Covid-19 Moratorium Policy" from the dropdown in the Raise a Request section.
3. Verify your loan details and go through the terms and conditions carefully.
4. Once you agree to the terms and conditions, submit the request.

Once you have submitted your application to opt-in for an RBI moratorium, we will assess your personal loan status and intimate the approval or otherwise accordingly.