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RBI EMI MORATORIUM

Covid-19 has forced us to live a life that most of us have never experienced before. At this point of time we would advise you to follow the guidelines laid down by the Government of India and stay safe.

This challenge can also become a source of courage, resilience and hope. Tata Capital resolves to stand beside you to fight this crisis and help you take care of your family, your business and your own self and tide over this temporary situation. We advise you to stay safe and healthy and continue to engage with us from your home through our digital services.

The Reserve Bank of India has announced an extension of the regulatory package due to COVID-19 and pursuant to this Tata Capital has also decided to extend the moratorium / deferment to its eligible customers in respect of their Loan EMI falling due between 1st June 2020 and 31st August 2020 subject to Terms and Conditions. 

Please note that the interest on your outstanding loan amount would keep on getting levied during the moratorium / deferment period and will be added to your future instalments.

In case you want to apply for the moratorium/deferment of EMI please read through the detailed FAQs below and log in to your loan account to provide your consent to the terms and conditions. Customers who have already opted for March, April or May EMI deferment will also have to separately apply for deferment of EMI falling due during June / July / August 2020 period.

MORATORIUM FOR OVERDRAFT LOAN CUSTOMERS

Please go through the Moratorium related FAQs in the 'Tata Capital Financial Services section' below before logging into your Over Draft Loan account to provide your consent.

 

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Tata Capital Financial Services - FAQs

Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI had initially permitted Lenders to grant a moratorium on payment of Loan EMIs falling due between March 1, 2020 to May 31, 2020. The Reserve Bank of India announced an extension of the regulatory package under which Tata Capital borrowers are eligible for a moratorium / deferment of their Loan EMI for 3 months for the instalments due between 1st June 2020 and 31st August 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. If your request for moratorium is approved by Tata Capital, we will not present your repayment instrument during this period.

Please note if you apply for the EMI moratorium facility after 5 days of your EMI Due date, the deferment will be applied from the subsequent month.

The Instalment falling between 1st June 2020 and 31st August 2020 can only be deferred now. We will no longer consider requests for the EMI deferment for the period 1st March 2020 to 31st May 2020.

The moratorium/deferral option shall be applicable to all loan customers of Tata Capital except for the loan accounts with more than 3 months EMI due as on 31st May 2020.

 

For the moratorium/deferral option for non-retail customers of all Tata Capital entities viz. Tata Capital Financial Services Limited (TCFSL), Tata Capital Housing Finance Limited and Tata Cleantech Capital Limited, please get in touch with your Relationship Manager. Customers for the loan accounts with more than 3 months instalments due as of 1st March 2020 are not eligible however if the customer has subsequently made the payment and as of May 31, 2020 are less than 3 EMI due then they are eligible.

The borrowers who have already opted for March, April or May EMI deferment will also need to separately apply for EMI deferment for the June – Aug 2020 period.

Borrowers who have not applied for moratorium earlier or who have withdrawn their application later can also apply for the June – Aug 2020 period. 

Yes you can apply for moratorium for only one month or two consecutive months. However, you can not apply for two months with a gap. Example – deferment cannot be given for June and August months. 

You need to make the moratorium request within 5 days of your EMI due date.

Please note if you apply for the EMI moratorium facility after 5 days of your EMI Due date, the deferment will be applied from the subsequent month only.

Example – If your EMI Due date is 3rd of June, and you apply for moratorium on 15th of June, moratorium will apply only for EMIs falling due in July or August 2020.

For customers who opt for deferment, the monthly dues will not be billed to the loan account till August 31, 2020. However, during the moratorium period, the interest would continue to accrue on the utilized amount and the principal dropdown of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The Principal drop down amount and / or balance tenure may be modified. In case your Principal draw down is due between June to August, the principal due will be deferred and the balance tenure will be modified accordingly.

To avail the deferment for your Overdraft facility please click here to log into to your OD account. 

If you choose for deferment of your OD dues you would not be allowed to draw your unutilised OD limit.

If your financial position is not impacted or you do not want to pay additional interest you need not do anything. Your EMI payment instrument will be presented as per schedule.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.

For Retail loans (Personal Loan, Business Loan, Home Loan, Two Wheeler Loan, Car Loan, Consumer Durable Loan, Loan against Property, Tractor Loan.)We have sent an email and SMS to all our Retail customers on their registered Email ID and mobile numbers. Please follow the link provided therein.

In case you have not received the SMS /Email, the steps are as below:

1.       Visit the website www.tatacapital.com or download the Tata Capital App from App Store/Play store

2.       For Website- Click on “Login” (mentioned on the TOP Right)

3.       Log in using your registered mobile number/email ID and OTP received or User Id & Password (applicable for both website and app)

4.      Click on the TAB “EMI Moratorium” mentioned on the left side of the home page (applicable for both website and app)

5.       Enter the requisite details- NACH details, UAM number (If applicable), Email ID, Mobile number & RC number (for vehicular customers)

6.       Select the loan account/s applicable

7.        Select the applicable months (June/July/August) and accept the TnC’s mentioned.

8.       Submit request for availing the moratorium

Alternately, you can also mail us on customercare@tatacapital.com after reading the FAQ section on our website or call us on 1860 267 6060 (Monday to Saturday between 10am to 7pm). 

(Note: Please do not send your request to any e-mail ids or to the Relationship Manager directly. Request to be posted only on the website as mentioned above.)

For Non-Retail Loan (working capital loans, Channel Finance, Commercial term loans, loan against shares, equipment financing and leasing, construction equipment and commercial vehicle loans): For any request for such deferment of Commercial customers of Tata capital Financial Services Ltd, kindly approach your Relationship Manager.

You can also click here and fill up the Moratorium application form. You will receive a call from your Relationship manager post filling this in.

(Note: Retail Loan Customers are requested NOT to click on the link above and to follow the process as mentioned in the question above)

Yes. It does. The complete EMI consisting of Principal and Interest part is eligible for deferment. Principal repayment is also eligible for deferment. 

This is NOT A WAIVER, but a deferment. Interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMIs and the accrued interest as per revised repayment schedule that you will receive after the end of moratorium period i.e. 31st August, 2020.

Deferment will not be available for any overdue outstanding amounts as on February 29, 2020 if you have taken moratorium for EMIs falling in March – May 2020 period.

If a borrower has not applied for moratorium earlier and applies now for June – Aug 2020 period, all overdues as on 31st of May will not be deferred. Such overdues are payable on immediate basis.

Also, you are liable to pay such outstanding overdue during the moratorium period also. In case you have such overdue instalments and/ or other dues pertaining to the loan, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges. Click on the “Quick Pay” option on our website www.tatacapital.com to pay now. 

Interest at the contracted rate shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future EMI and / or balance tenure may be modified.

Customers who have availed Consumer Durable Loans (CD Loans) to please note that if they opt for deferment, they would also be liable to pay interest for the deferment period at 23.5% p.a.

You will need to pay the EMIs and the accrued interest as per the revised repayment schedule.

If you have already applied for EMI moratorium for the month Mar/April/May, you will receive the revised repayment schedule basis the same in the month of June 2020.  

The revised repayment schedule pertaining to moratorium for June – Aug 2020 period will be shared with you on the registered email ID in the month of September 2020. 

No. this will be payable as per the revised repayment schedule.  A revised repayment schedule would be drawn up for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period ending on 31st August 2020.  The revised repayment schedule for retail loans can also be accessed by logging into our website after the deferment period.

Yes. We will action on those requests. We will confirm to you whether you are eligible or not for the same via a communication.

Yes, subject to the other criteria, you can opt for moratorium at your option for any or all the loans availed by you. However, each loan need to be selected while applying for the deferment on our website or through any of the applicable channels as mentioned above.

The deferment of eligible EMIs will not impact the credit rating. In case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately via our “quick pay” option.

After the relief period, your Loan will run as per the revised repayment schedule. 

For customers eligible for moratorium and If you have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, applicable charges as per the facility agreement will be levied.

Yes, the same can be revoked / withdrawn by writing a mail with the contract details on customercare@tatacapital.com for retail loans and contactcommercialfinance@tatacapital.com for non-retail loans. However, once revoked, customer cannot re-apply for EMI moratorium for the mentioned month.

No, there are no charges to avail the moratorium.

Yes, Considering RBI and TCFSL policy guidelines, Moratorium facility will also be available to RLAS customer. Customer may opt for deferment of interest payment during moratorium period. Interest will however accrue during moratorium period and will be debited in statement of account.

For any deferment, retail loan against securities’ customers are required to approach respective Tata Capital Relationship Manager and need to send an email. E- mail should have a subject line as “COVID-19_Deferment Request| Name of the customer"

 

The mail body should contain following details:

·         Customer Name

·         Product Availed

·         Loan Account Number

·         Your contact Number

·         Your contact email ID

·         State how COVID-19 has impacted the cash flows of your business

Credit cards dues are covered under the moratorium package. Tata Card customers are requested to visit tatacard.com to know more. https://www.tatacard.com/tata-en/faqs.page

Tata Capital Housing Finance - FAQs

Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI had initially permitted Lenders to grant a moratorium on payment of Loan EMIs falling due between March 1, 2020 to May 31, 2020. The Reserve Bank of India announced an extension of the regulatory package under which Tata Capital Housing Finance Limited borrowers are eligible for a moratorium / deferment of their Loan EMI for 3 months for the instalments due between 1st June 2020 and 31st August 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. Post communication of moratorium approval  by Tata Capital Housing Finance Limited, we will not present your repayment instrument during this period.

 

The Instalment falling between 1st June 2020 and 31st August 2020 can only be deferred now. We will no longer consider requests for the EMI deferment for the period 1st March 2020 to 31st May 2020.

The moratorium/deferral option shall be available to all loan customers of Tata Capital Housing Finance Ltd. except for the loan accounts where the EMI is due for more than 3 months as on March 1st, 2020.

For Home Loan (HL) / Home Equity (HE) loans greater than ₹ 5 crores, deferment would be decided on case to case basis. Such customers wanting a deferment should write to us at customercare.housing@tatacapital.com  for assistance.

 

Decision of granting deferment to the eligible customers would be at the sole discretion of TCHFL.

Yes, moratorium will cover the entire EMI.

Customers who have already opted for March, April or May 2020 EMI deferment will also need to separately apply for EMI deferment for the June – Aug 2020 period.

Customers who have not applied for moratorium earlier or who have withdrawn their application later can also apply for the June – Aug 2020 period. 

This is NOT A WAIVER, but a deferment. Interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMIs and the accrued interest as per revised repayment schedule that you will receive after the end of moratorium period i.e. 31st August, 2020.

Yes, you may apply for moratorium for individual month or consecutive months. However, you can not apply for June and August months.

If your financial position is not impacted or you do not want to pay additional interest, you need not do anything. Your EMI payment instrument will be presented as per schedule.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.

You may follow the below mentioned steps:

  • Visit the website www.tatacapital.com or download the Tata Capital App from App Store/Play store
  • For Website- Click on “Login” (mentioned on the TOP Right)
  • Log in using your registered mobile number/email ID and OTP received or User Id & Password (applicable for both website and app)
  • Click on the TAB “EMI Moratorium” mentioned on the left side of the home page (applicable for both website and app)
  • Select the loan account/s applicable
  • Select the applicable months (June/July/August) and accept the TnC’s mentioned.
  • Submit request for availing the moratorium

Alternatively, you can also mail us on customercare.housing@tatacapital.com after reading the FAQ section on our website or call us on 1860 267 6060 (Monday to Saturday between 10am to 7pm).

Deferment will not be available for any overdue outstanding amounts as on February 29, 2020 if you have taken moratorium for EMIs falling in March – May 2020 period.

If a borrower has not applied for moratorium earlier and applies now for June – Aug 2020 period, all Overdues as on 31st of May 2020 will not be deferred. Such Overdues are payable on immediate basis.

Also, you are liable to pay such outstanding overdue during the moratorium period also. In case you have such overdue instalments and/ or other dues pertaining to the loan, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges. Click on the “Quick Pay” option on our website www.tatacapital.com to pay now. 

Interest at the contracted rate shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future EMI and / or balance tenure may be modified.

You will need to pay the EMIs and the accrued interest as per the revised repayment schedule.

If you have already applied for EMI moratorium for the month Mar/April/May, you will receive the revised repayment schedule basis the same in the month of Jun 2020. 

The revised repayment schedule pertaining to moratorium for June – Aug 2020 period will be shared with you on the registered email ID in the month of September 2020. 

No. This will be payable as per the revised repayment schedule.  in which the EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period ending on 31st August 2020. 

Yes, subject to the other criteria, you can opt for moratorium at your option for any or all the loans availed by you. However, each loan need to be selected while applying for the deferment on our website.

In case of customers whose EMIs due in Jun 2020 / Jul 2020 / Aug 2020 have been honoured but who subsequently opt for deferral within 7 days of the EMI Payment, EMI thus collected will be refunded. In case of deferral requests received post 7 days of EMI payment of Jun 2020 / Jul 2020, payment thus received would be adjusted towards the EMI for that month and customer would be given moratorium for the subsequent month/s only. For cases wherein Aug 2020 EMI is honoured, and customer has applied for deferral post 7 days of EMI Payment of Aug 2020, payment thus received would be adjusted towards Aug 2020 EMI and there would be no deferral provided.

The deferment of eligible EMIs will not impact the credit rating. In case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately via our “quick pay” option.

After the relief period, your loan will run as per the revised repayment schedule. 

For customers who have opted for moratorium and are eligible for moratorium, late payment charges will not be applicable. Customers who are not eligible for moratorium or  have not opted for a moratorium, applicable charges as per the facility agreement will be levied.

No, there are no charges to avail the moratorium.

If you have opted for Moratorium, Part / Full pre-payment of the loan will be accepted only after end of moratorium period.

You can write to us at customercare.housing@tatacapital.com with details of your loan account. 

The borrower as prescribed by the company may need to furnish fresh NACH debit mandate.

Tata Capital Housing Finance (Construction Finance) - FAQs

Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI had initially permitted lenders to grant a moratorium on payment of Loan EMIs falling due between March 1, 2020 to May 31, 2020. The Reserve Bank of India announced an extension of the regulatory package under which Tata Capital Housing Finance Limited borrowers are eligible for a moratorium / deferment of their Loan EMI for 3 months for the instalments due between 1st June 2020 and 31st August 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. If your request for moratorium is approved by Tata Capital Housing Finance Limited, we will not present your repayment instrument during this period.

The Instalment falling between 1st June 2020 and 31st August 2020 can only be deferred now. We will no longer consider requests for the EMI deferment for the period 1st March 2020 to 31st May 2020.

All loan customers, except for NPA accounts as on 29th February 2020, are eligible for moratorium/deferment. For construction finance customers, deferment would be decided on case to case basis. Such customers wanting a deferment should get in touch with their relationship manager for assistance.

Yes, moratorium will cover entire EMI. 

All eligible borrowers who want to opt in for Deferment from June 2020 to August 2020 will have to apply afresh.

This is not a waiver, but a deferment. Interest on the loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMI and the accrued interest as per revised repayment schedule.

Yes, you may apply for moratorium for only one or two months. 

You don’t have to separately request to continue repayments as per original schedule. However, it is recommended to write to your Relationship Manager.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.

  • EMI falling between the deferment months as per scheme can only be deferred.
  • Deferment will not be available for any overdue outstanding amounts as on February 29, 2020 if you have taken moratorium for EMIs falling in March – May 2020 period.
  • If a borrower has not applied for moratorium earlier and applies now for June – Aug 2020 period, all overdue as on 31st of May will not be deferred. Such overdue are payable on immediate basis.
  • You are liable to pay the outstanding overdue prior to March 1st, 2020 during the moratorium period also. Hence, in case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to March 1st, 2020, we request you to kindly pay such overdue EMI/ other amount overdue immediately, to avoid normal penal charges and to avoid reporting to credit bureau. 

Interest at the contracted rate shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future EMI and / or balance tenure may be modified.

You will need to pay the revised instalments as per the revised repayment schedule.

If you have applied for MI/EMI moratorium for the months, Mar/April/May 2020, you will receive the revised repayment schedule basis the same in the month of Jun 2020. 

The revised repayment schedule pertaining to moratorium for June – Aug 2020 period will be shared with you on the registered email ID in the month of September 2020. You may get in touch with your Relationship Manager.

No. A revised repayment schedule would be drawn up for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period ending on 31st August 2020.

You can write to your relationship manager to apply for moratorium under this scheme from your registered email address with the details. The request for moratorium should include the details with reasons as to why your cash flows are impacted because of COVID 19. We will evaluate the request and permit the moratorium for unpaid instalments under the moratorium scheme.

The deferment of eligible EMIs will not impact the credit rating. In case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to the moratorium period, we request you to kindly pay such overdue EMI/ other amount overdue immediately to avoid us reporting to credit bureau.

After the relief period, your Loan will run as per the revised repayment schedule. 

No, in case your instalments / EMIs due during the deferment period has been paid, it will not be refunded.

For customers eligible for moratorium and who have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, necessary charges as per the facility agreement be levied.

Yes. The borrower can continue to repay the loan during the moratorium period. 

You may make one application for all construction finance facilities availed from Tata Capital, specifying the project name and/or contract number for the facilities. 

You are required to pay the EMIs as per the revised repayment schedule. However, as per the terms and conditions of the facility, pre-payment is permitted.

No.

Tata Cleantech Capital - FAQs

Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI had initially permitted Lenders to grant a moratorium on payment of Loan instalments falling due between March 1, 2020 to May 31, 2020. The Reserve Bank of India announced an extension of the regulatory package under which Tata Capital borrowers are eligible for a moratorium / deferment of their Loan repayment for 3 months for the instalments due between 1st June 2020 and 31st August 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period.

Please note if you apply for the Instalment moratorium facility after your instalment due date, we will refund only to the eligible base decided as per internal policy.

The Instalment falling between 1st June 2020 and 31st August 2020 can only be deferred now. We will no longer consider requests for the instalment deferment for the period 1st March 2020 to 31st May 2020. 

For customers of Tata Cleantech Capital Limited, a case by case evaluation will be done. Such customers wanting a deferment should make an application with proper justification with their relationship manager. The moratorium is only applicable to customers affected on account of COVID 19.

The borrowers who have already opted for March, April or May instalment deferment will also need to separately apply for instalment deferment for the June – Aug 2020 period.

Borrowers who have not applied for moratorium earlier or who have withdrawn their application later can also apply for the June – Aug 2020 period. 

Yes you can apply for moratorium for only one month or two consecutive months. However, you can not apply for June and August months. 

If your financial position is not impacted or you do not want to pay additional interest you need not do anything. Your instalment payment will be processed as per schedule.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.

Please submit an application to your Relationship Manager at Tata Cleantech Capital Limited for moratorium setting out justification as to how you are affected by Covid -19 and why you should be granted moratorium.

Yes. It does. The complete instalment consisting of Principal and Interest part is eligible for deferment.

This is not a waiver, but a deferment. Interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMIs and the accrued interest as per revised repayment schedule that you will receive after the end of moratorium period i.e. 31st August, 2020.

Deferment will not be available for any overdue outstanding amounts as on February 29, 2020 if you have taken moratorium for instalments falling in March – May 2020 period.

If a borrower has not applied for moratorium earlier and applies now for June – Aug 2020 period, all overdues as on 31st of May will not be deferred. Such overdues are payable on immediate basis.

Also, you are liable to pay such outstanding overdue during the moratorium period also. In case you have  such overdue instalments and/ or other dues pertaining to the loan, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges. 

Interest at the contracted rate shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future instalments and / or balance tenure may be modified. 

No. this will be payable as per the revised repayment schedule.  A revised repayment schedule would be drawn up for your loan. The instalment and / or balance tenure may be modified. We will intimate you with the revised repayment schedule.

The deferment of eligible instalments will not impact the credit rating. In case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately.

After the relief period, your Loan will run as per the revised repayment schedule. 

For customers eligible for moratorium and If you have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, applicable charges as per the facility agreement will be levied.

No, there are no charges to avail the moratorium.

Yes, subject to the other criteria, you can opt for moratorium at your option for any or all the loans availed by you. However, for each loan, you need to apply separately by following the stipulated process.

You may contact your Relationship Manager at Tata Cleantech Capital Limited. If you can’t reach your Relationship Manager, please write to customercare@tatacapital.com with your Customer Identification Number (CIF).

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