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Covid-19 Moratorium on Personal Loans

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Frequently Asked Questions on Covid-19 Moratorium

Is Bajaj Finance Ltd giving moratorium to all its personal loan customers?

Personal loan customers of BFL, with consistent loan repayment track record, can opt for moratorium. The customers should have no more than two EMIs due, as of 29th February 2020, to become eligible for moratorium.

For which month’s EMI can I request a moratorium on my personal loan?

Moratorium can be requested for unpaid EMIs that are due during the month of March, April and May 2020.

Will the moratorium be applicable in case of new personal loans sanctioned after March 1, 2020 during the lockdown period?

Yes, you can avail moratorium for EMIs due for payment between March, April and May 2020.

How can I raise a request for moratorium on my personal loan?

You can raise a request for moratorium by clicking on the following link:
▪ Login and authenticate yourself
▪ Select Covid-19 from the product dropdown in the raise a request section
▪ Select your loan details and read the terms & conditions carefully
▪ Submit the request after agreeing to the terms and conditions

You can also write to us at, stating the details of your personal loan account. We will review your request basis the defined policy and revert accordingly.

By when should I raise a request for moratorium on my personal loan?

You need to raise a request at least 7 days before your personal loan EMI due date.

Will I get a confirmation of acceptance of moratorium request on my personal loan?

After receiving your request, we shall communicate whether your request has been accepted. You will also be informed about the applicable interest on your personal loan along with all terms & conditions applicable for the moratorium.

Will I get moratorium for all my active loans with Bajaj Finance Ltd and will I need to raise separate request for all loans?

If you are eligible for moratorium based on your consistent past repayment of EMIs and you are not more than two EMIs overdue for all your active loans with BFL, you will be offered moratorium for all of them. You need to raise a single request to avail moratorium for all your active BFL loans. You must provide details of your loan account numbers and confirmation that you are ready to bear the applicable interest for the period of moratorium.

How will the treatment of my personal loan be after the moratorium period?

Your loan tenor will get extended as accrued interest will be added to the total interest payable and principal outstanding for the moratorium period. You will receive a communication on the revised interest applicable on your personal loan and your revised re-payment schedule will be updated on our self-service portal and the Experia mobile app.

If I do not want the personal loan EMI moratorium, what should I do?

If you do not want to opt for EMI moratorium, there is no further action required from your side. The repayments will continue as they were happening earlier.

If you have adequate funds and can manage to repay your EMIs timely, you are encouraged to do so to avoid the extra interest and tenor extension. However, if you wish to skip your EMI payment during this period, you can avail EMI moratorium till May 2020.

Why was my account debited when the RBI has announced a moratorium?

Opting for EMI moratorium is entirely your choice and subject to company’s moratorium policy. We understand that all our personal loan customers may not opt for it given that there is an additional interest involved in it, under the terms of the moratorium.

Will I be required to submit any documents such as fresh NACH debit mandate?

As required by the company, you may need to furnish a fresh NACH debit mandate.

Will my EMIs get debited from my bank account during the moratorium period?

For personal loans that have been offered moratorium, we will put the EMIs on hold, subject to the receipt of moratorium request prior to the EMI due date(s) & acceptance of the request.

Will I incur bounce charges for my personal loan EMIs of the moratorium period?

If you raise a request to opt for moratorium at least 7 days prior to your EMI due date, we shall not levy any EMI bounce charges.

If you do not clear your outstanding through the month, your profile will be evaluated for an automatic moratorium provision and you shall be liable to pay bounce charges but late payment penalty shall not be charged.

Will I be charged with late payment penalty during the moratorium period?

For the EMI months of your personal loan for which moratorium has been offered, we shall not levy any late payment charges. If any late payment charges get levied, the same shall be waived off/reversed.

Will my credit bureau records be impacted if I opt for moratorium on my personal loan?

If you are eligible and you have opted for the moratorium, your credit bureau records will not be impacted due to non-payment of EMIs during the moratorium period. This does not apply to any non-payment of EMIs that would have been reported to the credit bureau prior to 01 Mar 2020 or for personal loans sanction/availed after 01 Mar 2020. However, credit bureaus will be notified that you opted for the moratorium facility.

Can I pay in between the moratorium period?

It is a relief granted to you for a temporary period amidst the lockdown. However, you have an option to make any advance EMI payment as per existing terms of your personal loan.

If my personal loan is already in NPA as of Feb 29, 2020 will the moratorium be applicable to me?

No. However, the company reserves the right to take a case by case view for such cases.

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