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  Business   In Other News  02 Apr 2020  HDFC Bank offers EMI, loan deferment option to customers

HDFC Bank offers EMI, loan deferment option to customers

PTI
Published : Apr 2, 2020, 10:56 am IST
Updated : Apr 2, 2020, 10:56 am IST

The bank said its debit card holder customers can now withdraw cash from any ATM without charges till June 30

 HDFC Bank offers loan deferment option to customers. (Photo- Twitter)
  HDFC Bank offers loan deferment option to customers. (Photo- Twitter)

New Delhi: HDFC Bank on Wednesday offered to defer EMIs in the wake of the coronavirus pandemic.

The bank in an email to its customers said the prevailing situation may pose a huge challenge for people at large. "In line with the RBI guidelines and to show our solidarity, HDFC Bank is offering its customers EMI moratorium as a relief measure.

 

"You can defer your EMIs/loan installments and credit card dues up to 3 months," the bank said.

The bank said its debit card holder customers can now withdraw cash from any ATM without charges till June 30.

"There won't be any cap on the number of withdrawals or other transactions done at the ATM including declined transactions," it said.

"We will also waive the minimum monthly/quarterly balance requirements for the savings and current account holders for four months - from March to June 2020. These customers will be sent a separate communication," the lender added.

All the public sector lenders on Tuesday announced they will be extending the moratorium for three months, giving their customers a window to pay EMIs and interest on working capital loans by small businesses or MSMEs.

 

These measures are part of RBI's mega liquidity booster announced on Friday as the coronavirus lockdown has crippled almost every economic activity in the country.

Tags: hdfc bank, emis, credit card bills, coronavirus lockdown, liquidity conditions, coronavirus pandemic, hdfc, emi moratorium
Location: India, Delhi, Delhi Cantonment