HDFC Loan EMI Refund under the RBI Moratorium Rules | Apply for Online Loan EMI Refund due to COVID-19 Lockdown | HDFC Bank 3 Months Loan EMI Deferment | Auto Debit my EMI but need to Refund COVID-19 Relief Package by RBI.
HDFC Bank is the largest number of Loan Borrowers in India. Since the loan processing is very fast and services are also good. Now, due to the 21 days lockdown in India, most of the businesses are close and therefore there will be a delay in salary. Keeping all this in mind RBI has announced 3 Months Moratorium (Extension in EMI Tenure) to all Terms Loans, Credit Card dues etc.
In Case, you have already paid March 2020 Loan EMI and want to refund. Please check here possibility. And what about the upcoming EMI Auto Debit NACH status.
Refund of HDFC Loan EMI (Auto Debit)
HDFC has made simple to avail or opt for Loan EMI Moratorium. You don’t need to visit the HDFC Loan Center to apply. Just login to loan account ONLINE and choose “OPT” for Moratorium. That’s it.
Since the RBI/2019-20/186 & Statement on Developmental and Regulatory Policies dated March 27th, 2020, RBI has permitted banks and financial institutions to provide a moratorium up to 3 months for all payments (both principal & interest) due between 1st March 1st to 30 May 2020.
RBI Refund Loan EMI News
Question: Is there any chance to get a Refund for March 2020 EMI?
Answer: No, as per HDFC they only provide moratorium after 27th March 2020. So, if your EMI is deducted on 28th then only you can apply for REFUND.
Question: What happens if I have already paid the March installment?
Answer: In that case the applicable moratorium period will be for the remaining 2 months.
If you don’t do anything i.e. neither opt in or opt out, then we do not change your account. The default choice is, thus, opt out.
Note: In case, you have an issue. Please contact to the Customer Care of HDFC COVID-19 Helpline Number.
|HDFC Loan EMI Moratorium||Interest Charges (with Example)|
|HDFC Moratorium||Check Online|
FAQ on HDFC Loan Refund (March/ April 2020) – RBI Moratorium
Check the FAQ (Read it carefully)
✅ What is the last date to apply for HDFC Loan EMI Moratorium?
The customers can opt for moratorium latest by April 7th, 2020.
✅ If I have multiple loans do I have to apply for each one separately?
Yes, you will have to select the moratorium option for each account separately.
✅ At what rate will I be charged interest during the moratorium period?
The interest will be charged as per the applicable interest rate on your loan.
✅ How to opt for a moratorium?
You can opt for moratorium by either visiting our website or go through the link that is sent to you through email and SMS. This is to enable you to close your option through the digital mode.
✅ Will I be charged penal interest during the moratorium period?
No, however the moratorium should not be understood as a waiver and hence interest will continue to accrue on the outstanding principal during the moratorium period.