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Let us help you to understand the impact of moratorium

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Moratorium Calculator

Considering the lockdown to check the spread of COVID – 19 viruses, as you are aware, the RBI has recently declared to extend the moratorium for all borrowers (individual and non-individual) for 3 months more. This means that you can choose to defer your EMI payments between Mar 01 – 31st August 2020. Availing this facility makes you feel relieved from the financial burden.

To assess the impact of Moratorium on EMI payments, you can use our free online moratorium EMI Calculator to accurately estimate how your EMI or loan tenure will change after the RBI moratorium is applied on your any form of credit. It is an indicative tool to help you calculate the additional interest and EMI amounts payable if you avail of the moratorium.

How to use the Moratorium calculator?

Learn here how opting in for a moratorium affect your loan or credit card bill. Steps to follow at the time of using the moratorium calculator:

  • Enter your loan amount: This amount equals the loan amount that was sanctioned to you at the beginning of the loan.
  • Enter the Rate of Interest: It should be the same rate of interest which is currently applicable on your loan or a credit card
  • Enter your loan tenure: This refers to the overall tenure as per the existing schedule.
  • Pending EMIs: You need to mention here the number of months for which you would like to avail the moratorium arising from March 01 to August 31, 2020.

Based on your choice, your monthly EMI, loan tenure and number of EMIs post moratorium period will be displayed. The calculator results are approximations and for information purposes only. The actual interest rates and loan eligibility amount will vary from user to user.

Please note that interest will be charged on the outstanding principal amount for the months in which moratorium is applied.

At IndiaLends, we sincerely hope that you and your family are healthy and are following the safety precautions as instructed by the authorities.