{"id":5168,"date":"2020-04-02T20:16:17","date_gmt":"2020-04-02T14:46:17","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=5168"},"modified":"2026-07-28T17:40:02","modified_gmt":"2026-07-28T12:10:02","slug":"important-facts-for-personal-credit-card-home-car-loan-borrowers-post-rbis-moratorium-announcement","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/important-facts-for-personal-credit-card-home-car-loan-borrowers-post-rbis-moratorium-announcement\/","title":{"rendered":"Important facts for Personal, Credit Card, Home &#038; Car Loan Borrowers post RBI&#8217;s moratorium announcement"},"content":{"rendered":"\r\n<p class=\"wp-block-paragraph\">Last week, RBI the apex body that controls the issue and supply of the Indian rupee made an important announcement. This was related to the after-effects of the Covid-19 i.e. the Coronavirus that has more than 750,000 cases worldwide.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">With airports, businesses and countries shut, the Indian economy has taken a huge hit. We are now under a 21-day lockdown. RBI Governor Shaktikanta Das made an announcement where it would try easing this effect on the Banks and NBFCs.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Here are some of the key announcements made:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The repo rate will be deducted from 5.15% to 4.40%.<\/li>\r\n<li>The reverse repo rate will be deducted from 4.90% to 4.00%<\/li>\r\n<li>CRR Balance reduced from 90% to 80%.<\/li>\r\n<li>A 3 month moratorium period on all term loans.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">After these announcements, people have been confused as to what to expect. Hence we will clear all your doubts with these 4 important factors.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>Clarity is the key:<\/strong><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">The main confusion among people is if they have to pay EMI for the next 3 months or no. The answer is &#8220;YES&#8221;. You will have to pay your loan EMI like you have been doing.\u00a0<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">RBI has given the decision of a 3-month moratorium to the Banks and NBFCs. Only if your bank sends you a notification, you will get this benefit. If no, then you will continue paying off your loan EMI every month.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>3 month moratorium doesn&#8217;t mean EMI free holiday:<\/strong><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">If your Bank gives you this 3-month benefit, it doesn&#8217;t mean you will never have to pay for this. Your loan tenure will be shifted ahead by 3 months. Hence it is wise to not cancel your auto-debit of loan EMI from your account. Also, confirm with your Bank in case interest charges will be applied for this 3-month moratorium period.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>Borrowers that are struggling with their EMIs:<\/strong><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">The 3 months are given because everyone is at home and expenses will arise. Also, there is a chance of loss of income. Hence you can utilize the EMI money for these expenses. We request you to save as much as you can and not spend unnecessarily. Cost-cutting will help you save money as once this period ends, you will have to repay the loan EMI again.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>Borrowers that can afford their EMIs:<\/strong><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">If you&#8217;re sorted with your EMI&#8217;s then it is time to restructure your savings plan. You can increase your emergency fund or even take health insurance for your family. Also, even though the 3 months is applied for credit cards, it would be nice for you to pay them off first as high-interest charges (36-42%*) can be applied to them.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">So here are some important things every term loan borrower must know. If you\u2019re looking for the best loan deals in Mumbai today, explore our <a href=\"https:\/\/www.ruloans.com\/\">top loan offers<\/a>.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Last week, RBI the apex body that controls the issue  [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":5169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[98],"tags":[978],"class_list":["post-5168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rbi-moratorium","tag-rbi-moratorium"],"rttpg_featured_image_url":{"full":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"landscape":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"portraits":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"thumbnail":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-150x150.jpg?wsr",150,150,true],"medium":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-300x103.jpg?wsr",300,103,true],"large":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"1536x1536":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"2048x2048":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"blog-large":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-669x246.jpg?wsr",669,246,true],"blog-medium":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-320x202.jpg?wsr",320,202,true],"recent-posts":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-700x246.jpg?wsr",700,246,true],"recent-works-thumbnail":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-66x66.jpg?wsr",66,66,true],"fusion-200":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-200x69.jpg?wsr",200,69,true],"fusion-400":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-400x138.jpg?wsr",400,138,true],"fusion-600":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-600x207.jpg?wsr",600,207,true],"fusion-800":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"fusion-1200":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"portfolio-full":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",714,246,false],"portfolio-one":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-540x246.jpg?wsr",540,246,true],"portfolio-two":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-460x246.jpg?wsr",460,246,true],"portfolio-three":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-300x214.jpg?wsr",300,214,true],"portfolio-five":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement-177x142.jpg?wsr",177,142,true],"menu-24x24":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",24,8,false],"menu-36x36":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",36,12,false],"menu-48x48":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",48,17,false],"web-stories-poster-portrait":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",640,221,false],"web-stories-publisher-logo":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",96,33,false],"web-stories-thumbnail":["https:\/\/www.ruloans.com\/blog\/wp-content\/uploads\/2020\/04\/RBI-announcement.jpg?wsr",150,52,false]},"rttpg_author":{"display_name":"Ruloans Team","author_link":"https:\/\/www.ruloans.com\/blog\/author\/admin\/"},"rttpg_comment":1,"rttpg_category":"<a href=\"https:\/\/www.ruloans.com\/blog\/rbi-moratorium\/\" rel=\"category tag\">RBI Moratorium<\/a>","rttpg_excerpt":"Last week, RBI the apex body that controls the issue [...]","_links":{"self":[{"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/posts\/5168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/comments?post=5168"}],"version-history":[{"count":2,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/posts\/5168\/revisions"}],"predecessor-version":[{"id":15146,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/posts\/5168\/revisions\/15146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/media\/5169"}],"wp:attachment":[{"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/media?parent=5168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/categories?post=5168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ruloans.com\/blog\/wp-json\/wp\/v2\/tags?post=5168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}