On March 27, the Reserve Bank of India (RBI) said that all lending institutions, including banks and housing finance companies, will have to give its borrowers a three-month moratorium on term loans. RBI also stated that the moratorium will apply to credit card dues as well. If you have a credit card from Kotak Mahindra Bank, here are some of the details of its three-month moratorium facility. Details are as per Kotak Mahindra Bank’s website. The Bank will offer to all borrowers who wish to avail of the facility of moratorium (for term loan instalments and credit card dues falling due between March 1, 2020 and May 31, 2020) and / or deferment of interest for the months of March to May 2020 to all borrowers who availed working capital facilities. The Bank would be charging the interest, at the original contracted rate, for the moratorium period on the outstanding amount of loan to all those who avail the relief as provided in the RBI circular. This interest has to be paid by the customers as prescribed in this policy. Credit card customers will be given an option to avail of relief under the RBI circular will be sent instructions… Read full this story
- Bank Secured Credit Cards - What You Should Know
- Credit Card Plan Terms - 5 Plans Ought To Be Considered
- Instant Approval Credit Cards - Three Terms to Look For When You Apply
- Signature Credit Cards
- Advantages of Online Student Credit Card Application
- Are Guaranteed Approval Credit Cards Real?
- Fixed Rate Credit Cards - Do They Exist?
- Credit Cards on the Up
- Credit Cards in India - Useful Tools Being Used in Many Ways
- We Just Passed a Credit Card Holder's Bill of Rights, But is it Really?
Kotak Mahindra Bank moratorium on credit card dues: What are the terms and conditions have 286 words, post on economictimes.indiatimes.com at April 7, 2020. This is cached page on Vietnam Colors. If you want remove this page, please contact us.