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Moratorium

RBI's Regulatory Package

The Covid-19 Pandemic has influenced our personal, social and professional life. In this time, we request you to be cautions and take precautions as advised by the Government. We understand the financial emergencies and difficulties that have arisen on account of COVID-19 pandemic.

The Reserve Bank of India (RBI Notification Ref: no RBI/2019-20/ 186 DOR. No. BP. BC. 47/21.04.048/2019-20 “COVID-19 – Regulatory Package” dated March 27, 2020) ) has announced certain regulatory measures to mitigate the burden of debt servicing brought about by disruptions on account of Covid-19 pandemic and to ensure the continuity of viable businesses. Reserve Bank of India permitted the lending institutions to allow a moratorium of three months on payment of instalments falling due between March 1, 2020 and May 31, 2020. The interest will continue to be levied for this period and will be amortized over the period of the loan.

In view of the further extension of the lockdown on account of disruptions caused by COVID-19, RBI has extended the moratorium by another three months from June 1, 2020 till August 31, 2020 taking the total period of applicability of the measures to six months (i.e. from March 1, 2020 to August 31, 2020).

Moratorium Calculator

Use the moratorium calculator to estimate the impact of accumulated interest during moratorium. Accordingly, you may opt for an increase in EMI or an extension of the residual term of the loan. Please note this is for demonstration purpose only, the actual figures may vary.
  • Loan Amount
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  • Loan Tenure
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  • Rate
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  • EMI's paid
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Moratorium Period (Months)
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Increase in Tenure
with same EMI
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Increase in EMI
with same tenure
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Frequently asked questions (FAQ’s)

  • 1What is Moratorium?+-

    The moratorium is a sort of granting of a ’holiday’- it is a repayment holiday where the borrower is granted an option to not pay during the moratorium period. The applicable interest shall continue to accumulate on the outstanding portion of the loan during the moratorium period.

  • 2What is the moratorium scheme announced by RBI to address financial stress caused by COVID-19?+-

    As per RBI’s (RBI Notification Ref: no RBI/2019-20/ 186 DOR. No. BP. BC. 47/21.04.048/2019-20 “COVID-19 – Regulatory Package” dated March 27, 2020), all the lending institutions have been permitted to grant a repayment moratorium of up to three months to its customers, on EMIs/Pre EMIs due between March 1st, 2020 and May 31st, 2020. Wonder Home Finance Limited is providing a moratorium period for all its existing borrowers for two months on payment of all EMI’s falling due between April 1, 2020 and May 31, 2020 considering all due EMI’s have been paid for March 2020. Interest shall continue to accrue on the outstanding principal during the moratorium period.

  • 3Will the moratorium be applicable on principal repayment, interest repayment or both?+-

    The moratorium will be applicable to both principal & interest components i.e. the moratorium is applicable on loans in which customers are paying either EMIs or Pre EMIs. The interest, at the applicable interest rate, shall continue to accrue on the outstanding portion of the loan during the moratorium period.

  • 4Will I have to pay all EMIs at one go after the moratorium period?+-

    No, you can pay in EMIs or in Bullet payment after the moratorium period. A revised repayment schedule would be generated for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule.

  • 5Is this a waiver of EMIs or a deferment of EMI?+-

    This is not a waiver, but a deferment. Interest will get accrued on your loan during the moratorium period. As a result either the outstanding term of the loan can be extended or the EMI increased to repay the loan along with the accrued interest. The interest during moratorium period will be capitalized and you will need to pay the EMI as per the revised repayment schedule.

  • 6Do I have an option to continue paying EMIs/Pre EMIs as per the schedule during the moratorium period?+-

    Moratorium is a relief granted to the customers who are facing financial difficulty or a liquidity crunch during this striking situation. However, if you wish to continue with the payment of your EMIs/Pre EMIs as per your original schedule, you can OPT OUT of moratorium.

  • 7Can opting for the moratorium scheme adversely impact my credit score?+-

    No, the postponement of the EMI/ Pre EMI payments during the moratorium period will not affect your credit score. During the moratorium period, non-receipt of EMIs/Pre EMIs will not be classified / reported as default to the credit bureaus.

  • 8Will all these measures of RBI be treated as “restructuring”? What about the provisions applicable?+-

    The moratorium/deferment/recalculation is being provided specifically to enable the borrowers to tide over the economic fallout from COVID-19. Hence, the same will not be treated as a change in terms and conditions of loan agreement due to the financial difficulty of the borrowers and hence such measures will not result in asset classification downgrade.

  • 9How to opt for moratorium?+-

    As per RBI regulatory package on COVID-19, we have granted moratorium to all our customers for payment of instalments. Wonder Home Finance will connect with all its existing borrowers and shall guide the borrowers about the understanding of the moratorium. For further assistance, please call us on our tollfree number 1800-102-1002