Business / Which banks have deferred payment of EMIs by three months amid COVID-19?

In the view of coronavirus outbreak, some of the PSU banks have decided to give some relief to its customers regarding payments of instalments and interests on term loans.

Multiple PSU banks have decided to provide a moratorium of three months on payments of instalments and interest on term loans falling due between March 1 to May 31.

PNB presents relief scheme for our customers. In view of COVID-19, it has been decided to defer payment of all installments on term loan and recovery of interest on cash credit facilities falling due between March 01,2020 and May 31 2020.@DFS_India @dfsfightscorona pic.twitter.com/dHRvu5luXb

— Punjab National Bank (@pnbindia) March 31, 2020

In view of COVID-19 pandemic, OBC provides moratorium of 3 months on payments of instalments/interest falling due between 01.03.20 to 31.05.20 for term loans and working capital facilities & allowing easing of working capital financing. @DFS_India @nsitharaman @PMOIndia

— OBC India (@OBCIndOfficial) March 31, 2020

In terms of Covid 19- RBI package, borrowers are eligible for moratorium/ deferment of installments/EMI for Term loans falling due from 01.03.2020 to 31.05.2020 & repayment period gets extended accordingly. SMS also has been sent to customers to avail the same. @DFS_India #COVID pic.twitter.com/NGuw1pARiv

— Canara Bank (@canarabank) March 31, 2020