EMI Loan Moratorium – Interest Waiver Cashback from Bank

EMI Loan Moratorium – Interest Waiver Cashback from Bank

Finances News

You must be aware that the government has announced a loan moratorium from 1st March 2020 to 31st August 2020. Loan Moratorium was announced amid the Covid-19 pandemic. The government has announced major relief to all borrowers which is interest waiver or cashback benefit. This benefit applies to all borrowers irrespective of those who have opted for loan moratorium or not. This benefit is given to all individual borrowers and small businesses with a loan amount of up to 2 Cr. The entire interest for six months would be waived off. If the borrower has already made a payment cashback