Such interest will be collected by extending the original tenor of the loan accordingly.• If you do not want the EMI moratorium, no further action is required from your side. This does not apply to any non-payment of EMIs that would have been reported to the credit bureau prior to 01 Mar 2020. For example, for defering EMI of June month, you need to raise request before 26th of May.Post receipt of your request, we shall communicate only if your request has been rejected for any reason.If you are eligible for moratorium based on your consistent past repayment of EMIs and you are not more than 2 EMIs overdue in any of your loans with BFL, you will be offered moratorium for all your active loans with BFL.
Is Bajaj Finance Ltd (BFL) offering moratorium to its customers?
Bajaj Finserv managing director Sanjiv Bajaj on Wednesday extended support to HDFC chief Deepak Parekh’s view that the Reserve Bank of India should not extend the loan moratorium. We understand that all our customers may not opt for the Moratorium given that there is an additional interest payable under the terms of the Moratorium. We are redirecting you to our Personal Loan Application Form. You need to give seperate requests to avail moratorium for each of your active loans. In this case, since the customer opted Moratorium from April to Aug EMIs, the customer will have to clear the 3 EMIs in the months of September, October & November without any bounce to become eligible for the offer.For No Cost EMI loans & consumer durable loans,the upfront interest applicable is borne by the dealer/retailer at the time of purchase and is shared in your statement of account. BFL Corporate ID No: L65910MH1987PLC042961
NBFC Bajaj Finserv said its net profit for Q4FY20, of Rs 194.43 crore, was down by 77% for Q4FY20 due to COVID-19 provisions. To become eligible for moratorium, customers should have no more than 2-EMIs overdue in any of their loans as of February 29, 2020. • Customers who raise a request for opting for EMI moratorium before 26th of the month, prior to month in which EMI will be getting debited from their bank account, will not be levied any EMI bounce charges.Connect with us on social media and stay updated for our latest news and offers
Thus, it helped you to pay the product price in instalments instead of a lump-sum amount. For No Cost EMI loans & consumer durable loans,the upfront interest applicable is borne by the dealer/retailer at the time of purchase and is shared in your statement of account.
Viman Nagar, Pune – 411014 • Customers who raise a request for opting for EMI moratorium before 26th of the month, prior to month in which EMI will be getting debited from their bank account, will not be levied any EMI bounce charges.For the EMI months in which moratorium has been offered, BFL shall not be levying any late payment charges.
BFL is offering moratorium to its customers with consistent loan repayment track record. Speaking with CNBC-TV18 in an interview, Bajaj said, “I fully support what Deepak Parekh has said. Read out the terms & conditions of Bajaj Auto Finance (BFL) on Covid-19 moratorium. AUM share under moratorium declined to 15.5 per cent in June from 27 per cent in April. Stay safe, avoid frauds.
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