HDFC Bank Loan EMI Moratorium: June EMI got deducted? Do this for money refund

HDFC Bank Moratorium: The Reserve Bank of India (RBI) has announced an additional three-month increase of the EMI moratorium that means one can get this RBI facility till August 2020 now.

The EMI payments in the month of Jun 2020 will be processed on the due dates as per standard process.

HDFC Bank Moratorium: The Reserve Bank of India (RBI) has announced an additional three-month increase of the EMI moratorium that means one can get this RBI facility till August 2020 now. However, for availing this EMI moratorium extension, one needs to re-apply even though the loan borrower has availed of this facility for March to May 2020 period. Therefore, those who didn't apply for an additional EMI moratorium their June EMI might have been deducted from their bank account on the EMI hit date as the June month is almost gone. For relief to such customers, the HDFC Bank has said that it will refund the June EMI within five working days post-approval of the June EMI waiver application.

As per the official website of the HDFC Bank, "The EMI payments in the month of Jun 2020 will be processed on the due dates as per standard process. For customers who will apply for EMI Moratorium in June 2020, and their June EMI has already been deducted, they will get an EMI refund in 5 working days from the date of their successful EMI moratorium application. On your Credit Card, if you wish to avail the moratorium from June 2020, you may defer your outstanding payment (i.e. make NIL payment) or disable the Autopay from NetBanking."

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In line with the RBI guidelines and to show solidarity in standing with its customers during the COVID-19 pandemic, HDFC Bank had offered it's customers EMI moratorium and credit card outstanding moratorium as a relief measure from March 2020 to May 2020. Later on, it extended the EMI moratorium till August 2020 after the RBI extended the EMI moratorium for an additional three months. But, the bank makes it clear that those who have availed of the earlier EMI moratorium facility won't qualify for the next three-month extension automatically. They will have to apply for that again otherwise the June EMI will be processed as per its time and schedule.

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