Adsense code

Moratorium Interest on Interest Waiver

Moratorium Interest on Interest Waiver


Image Credit : livelaw.in

The Central Government today informed in Supreme Court is that it is going to waive "Interest on Interest" for the loans taken upto to limit of Rs.2 Crore which is important relief to all loan borrowers.

Also , This will be applicable to those who already cleared their EMI during moratorium period announced by Central Government.

This relief is applicable to following loans:

Educational Loan

Personal Loan

Housing Loan

Credit card Loan and Due

Auto Loan

MSME Loan

Consumer Durable Loan

The expense of " interest on interest" waiver of borrowers will be around Rs.6000 crore.

The Central Govt is going to compensate those expense for banks on the Interest waiver.


Post a Comment

0 Comments