Are you want to stop your credit card payments for next 3 months under coronavirus covid 19 RBI Moratorium. April, May, June, July & August 2020.
So here’s the step’s which helps you to stop your payments and save funds for future.
Does this moratorium apply for Credit Card outstanding and Loans on Credit Cards?
Yes, the moratorium is available on Credit Card outstanding and Loans availed on Credit Cards for payments due from 01 Mar 2020 till 31 Aug 2020.
The moratorium allows you to defer the payment till 31 May 2020. You are required to pay the minimum amount due or total outstanding and accrued interest charges on the due date after 31st Aug 2020.
Are all credit card customers eligible for this moratorium?
Yes. All retail credit card customers will be deemed eligible for the moratorium if they are regular with their payments on or before 01st March’20 on their credit card outstanding and loans taken on the credit card
How do I avail the credit card moratorium?
To avail the credit card moratorium, (क्रेडिट कार्ड अधिस्थगन का लाभ उठाने के लिए,)
(a) voluntarily defer paying the outstanding during this period i.e. make NIL payment (स्वेच्छा से इस अवधि के दौरान बकाया का भुगतान करना अर्थात् एनआईएल भुगतान करना)
(b) turn off Auto Pay (in case the same is currently availed) through net banking / mobile banking to avail the benefit of the moratorium and reactivate the same post the end of moratorium period (स्थगन के लाभ का लाभ उठाने के लिए नेट बैंकिंग / मोबाइल बैंकिंग के माध्यम से ऑटो पे (यदि वर्तमान में उसी का लाभ उठाया गया हो) को बंद कर दें और उसी पोस्ट को स्थगन अवधि के अंत में पुनः सक्रिय करें।)
एचडीएफसी क्रेडिट कार्ड के लिए किसी भी प्रक्रिया या निल भुगतान के लिए भुगतान न करें जो इसे मोरटोरियम अवधि के रूप में लिया जाएगा।
Will interest be levied for the moratorium period on my credit card outstanding and loan on credit cards?
Yes, interest will be levied as per the contracted rate on the card. Opting for 3 months moratorium allows you to defer the payment of your credit card dues and loan instalments taken on credit card till 31st May 2020. We encourage customers to make full payments towards the outstanding wherever possible to avoid / minimise levy of interest charges for this period.
Kindly note that the moratorium is a deferment of payment and not a waiver of interest. You are required to pay the minimum amount due or total outstanding along with accrued interest charges on the due date after 31st May 2020.