NEW DELHI : Unlike the public sector banks, customers of private banks and non-banking financial companies (NBFCs) would continue to pay EMIs on their term- loans unless an specific instruction is issued, as per the Covid-19 RBI package.
Several private banks and NBFCs informed their customers on Wednesday that auto debit facility for loan instalment won't be cancelled.
If a customer wants to hold equated monthly instalments (EMIs) for three months, they will have to specify that by sending an e-mail to the bank/NBFCs. "Relief package, #ICICIBank offers its customers a choice of either paying towards their loans/credit facilities or opting for a moratorium till 31 May, 2020.