RBI moratorium not a relief, pay EMIs and credit card dues if you can #suggestion


3-month moratorium allowed by the RBI on EMI repayments might not be a relief, For example, if you have to pay Rs 100,000 EMI for home loan or credit card on April 5, and you chose not to pay. Then you will be charged an applicable monthly interest rate. In case, you don’t pay the EMI in May as well, you will be charged interest on the principal plus interest amount for April, Clearly the announcement means nothing then If you choose not to pay your EMIs and credit card minimum outstanding balance between 1st Mar 31st May and pay the accumulated interest before the given deadline, then you won’t be treated as a defaulter.

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