Moratorium period is also reffered to as grace period that is offered to beneficiary during which beneficiary is required to repay only the interest on the credit availed and only after the expiry of this specific period banks can recover principal and interest.
What is Moratorium period
(3 posts) (2 voices)-
Posted 4 months ago #
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so it is a grace period in which you don't need to pay money except the interest am i right ?
Posted 4 months ago # -
No EMI is to be paid during moratorium period.You have to pay only for servicing of interest, as & when applied but it depends from bank to bank and the purpose for which you have borrowed the money.
Posted 4 months ago #
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