Monomorium moathi essay

If your bank has advised you to raise a request for availing of the moratorium offer, you can visit its website or click on the link shared by your bank and fill a form therein to opt for the scheme. You may also visit the bank to raise this request.

That is why a provision for moratorium period is provided. If a customer has the liquidity, they should not opt for a moratorium. Repaying the loan amount is advised as interest continues to accrue on the loan amount even during the moratorium period. Repaying helps reduce the interest cost.

A moratorium is often effected in response to a crisis that disrupts normal routine. In the aftermath of earthquakes, floods, droughts or disease outbreaks, an emergency moratorium on some financial activities may be granted by a government or the central bank. It is lifted when normalcy returns. What is an example of moratorium?

A moratorium period is the time during a loan term when the borrower is not required to make any repayment. It is a waiting period before which repayment of EMIs resumes. Normally, the repayment begins after the loan is disbursed and the payments have to be made every month.