The scheme will be applicable to all standard term loans under Housing Loan, Loan against Property, Auto Loan, Education Loan & Personal Loan as on March 1, 2020, for borrowers who have already availed moratorium during the period March 2020/ April 2020 to May 2020.

Term Loan: Moratorium of another 3 months on payment of all installments falling due between June 1, 2020 and August 31, 2020 will be offered and interest / installments demand will not be raised to the loan account of the borrower. During the said moratorium period, interest shall continue to accrue on the outstanding portion of the term loan and payable immediately at the end of moratorium period. Alternatively, such deferred accumulated interest on term loan over the moratorium period can be converted to Funded Interest Term Loan (FITL) which shall be repayable not later than March 31,2021. Such FITL would carry same interest rate as original loan and the interest on FITL will be collected monthly.

Working Capital:. The interest on the outstanding amount of the facilities availed shall continue to accrue during this period. The accumulated interest shall be payable immediately after the completion of the moratorium. Alternatively, such deferred accumulated interest on working capital can be converted to Funded Interest Term Loan (FITL) . Rate of interest on the FITL would carry same interest rate as original loan and the interest on FITL will be collected monthly.

Since relief is extended for periods between March 1, 2020 and August 31, 2020, the amount overdue before March 1, 2020 in any of the loan account will have to be paid before September 30, 2020 in order to avoid penal charges, down gradation of account and slippage to NPA.

Installments will include payments falling due from March 1, 2020 and up to August 31, 2020 in the form of-

• Principal and / or interest components
• Bullet repayments
• Equated Monthly installments

It is a relief granted to the borrower due to disruption caused by the sudden lockdown. However, the option lies with the borrower to either repay the loan during this moratorium as per the existing schedule or avail moratorium under Civud-19-Regulatory Package.

No, as the moratorium is granted by the Bank during the above mentioned period.

It is applicable on all types of term loans including agricultural term loans, retail and crop loans.

It is to be paid immediately after August 31, 2020.

No. Because the existing NPA cases are not impacted by COVID-19. To upgrade the account, all the overdues till date is to be cleared.

No. However, the account can be classified as NPA, if any other account of the borrower is NPA for other reasons.

The scheme is uniformly applicable to all standard loans under Agri & MSME as on March 1, 2020. However if the cash flows are not impacted and if you wish to continue to service your loan as per existing terms, you may write email to covid.optout@idbi.co.in, or give written request at the nearest IDBI Bank Branch. The email / written request should contain the following details

Yes. As moratorium only allows you to defer your Credit Card outstanding payment, Interest will be levied as per the contracted rate on the card. Hence, opting for moratorium would be a very costly affair for you as the annual ROI charges would be in the range of 30% to 40.80% based on the card variant used.

No, you need not specifically inform Bank.

• To avail the credit card moratorium, voluntarily defer paying the outstanding during this period. No Late Payment Fee or Auto Debit Return Charges would be charged during this period.
• If you do not want to opt for moratorium then make payment as normal.

Kindly send a mail from your registered Email ID to cc.moratorium@idbi.co.in with Subject Line as “IDBI Bank Credit Card – Temporary discontinuation of Auto-Debit – < Last 4 digit of Credit Card>. The content of the mail should contain the Following:

• Name on the Card
• Customer ID
• Last 4 digits of the Card No.
• Customer to mention in the email body “I wish to temporarily discontinue the Auto Debit facility for my Credit Card during the Moratorium Period. I understand that the unpaid dues in moratorium period will attract interest charges (as per standard interest rate of the card variant as mentioned in applicable terms and conditions)”

The request will be accepted till June 15, 2020

No. Deferring the payments during moratorium period will not affect your Credit Rating or Score. The moratorium allows you to defer the payment till August 31, 2020. You are required to pay the minimum amount due or total outstanding and accrued interest charges (with GST) on the due date after August 31, 2020.

Yes, interest will be levied as per the contracted rate on the card. The moratorium period allows you to only defer the payment of your credit card dues till 31st August 2020. We encourage customers to make full payments towards the outstanding wherever possible to avoid / minimise levy of interest charges for this period. Kindly note that the moratorium is a deferment of payment and not a waiver of interest. You are required to pay the minimum amount due or total outstanding along with accrued interest charges on the due date after 31st August 2020.

For all Credit Card dues (including any unpaid EMIs till the respective payment due date), standard interest rates of the card variant as per the applicable terms and conditions will be levied.

The interest will be levied from purchase/transaction date till the date of actual payment as per standard interest rate of the card variant as mentioned in the applicable terms and conditions.

Yes, Any unpaid dues in moratorium period will also attract interest charges (as per standard interest rate of the card variant as mentioned in applicable terms and conditions) if not paid within its interest-free period (Grace period) i.e. by the respective payment due date. For understanding of interest-free period (Grace period) and calculation of interest charges, kindly refer the terms and conditions at https://www.idbibank.in/pdf/credit-card/MITC.pdf.

Yes, you can make payment against the outstanding amount during moratorium period. The interest would be levied only for remaining outstanding amount (as per standard interest rate of the card variant as per the applicable terms and conditions). Please refer the details on https://www.idbibank.in/credit-card-paymentoptions.asp for various available options to make the payment for Credit Card Dues.

The payment for all unpaid balances, EMIs as on date of Moratorium application, all new transactions done between Moratorium start date till August 31, 2020 and interest charges levied during the period need to be made as per your August 2020 billing cycle’s payment due date i.e. by September 7, 2020.

EMIs would continue to be billed in your statement as per the original amortization schedule. In case of non-payment of statement dues (which includes EMIs billed) by the respective payment due dates, interest charges will accrue at the standard interest rates (as per standard interest rate of the Credit Card variant as mentioned in the applicable terms and conditions). All unpaid EMIs will become due for payment in the month of September 2020.

Yes, the Credit Card statements will be generated and shared during the moratorium period. In case of non-payment of total statement dues by the respective payment due dates, interest will be accrued at standard interest rate (as per standard interest rate of the respective Credit Card variant as mentioned in Credit Cards Most Important Terms and Conditions) and levied in statements generated during the moratorium period also, which will need to be paid after the end of moratorium i.e. by September 7, 2020.

Yes, Auto debit will be triggered during the moratorium period as per your existing instructions and based on availability of funds, account will be debited. We understand that majority of our customers may not opt for the Moratorium given that there is an additional levy of interest payable under the terms of the Moratorium. However, in case there is insufficient balance in the account on due date and the Auto Debit Instructions gets rejected, No penal Auto Debit Return Charges would be levied.

Yes, you will be allowed to apply for conversion of purchases into EMIs as per existing rules. You may also do this through Credit Card Net Banking https://idbicreditcards.co.in/.

Yes, you will keep on earning reward points on your transactions as per your card’s policy..

Yes. you will be able to transact as per the available balance and card/account status..