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IMPORTANT INFORMATION REGARDING MORATORIUM EXTENSION

We are in the process of finalising the policy for extension of Moratorium beyond May 2020 and will update the details once finalised. 

RBI EMI MORATORIUM

Covid-19 has forced us to live a life that most of us have never experienced before. At this point of time we would advise you to follow the guidelines advocated by Government of India and stay safe.

This challenge can also become a source of courage, resilience and hope. Tata Capital resolves to stand beside you to fight this crisis and help you take care of your family, your business and your own self and tide over this temporary situation. We advise you to stay safe and healthy and continue to engage with us from your home through our digital services.

The Reserve Bank of India announced a regulatory package arising due to COVID-19 under which Tata Capital borrowers are eligible for a moratorium / deferment of their Loan EMI for 3 months for the instalments due between 1st March 2020 and 31st May 2020. In line with the RBI guidelines and to show our solidarity in standing with you to tide over your cash-flow mismatch, we are offering you the EMI moratorium for both our Retail and Non-Retail customers.

Please note that the interest on your loan outstanding would keep on getting levied during this period and get added to your future instalments.

In case you want to accept the moratorium/deferment of EMI scheme along with extra interest charges please read through the detailed FAQs below and log in to your loan account to provide your consent. 

 

MORATORIUM FOR OVERDRAFT LOAN CUSTOMERS

Please go through the Moratorium related FAQs in the 'Tata Capital Financial Services section' below before logging into your Over Draft Loan account to provide your consent.

 

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Tata Capital Financial Services - FAQs

Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI has permitted Lenders to grant a moratorium on payment of Loan repayment instalments falling due between March 1, 2020 and May 31, 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. If you opt for such moratorium, we will not present your repayment instrument during this period.

 

Please note that the time is short to hold back some repayment instruments for the EMI due in April. In case the EMI gets cleared and you opt for moratorium, we will refund the EMI amount to you.

The moratorium/deferral option shall be applicable to all loan customers of Tata Capital except for the loan accounts with more than 3 months EMI due as of 1st March 2020.

For the moratorium/deferral option for non-retail customers of all Tata Capital entities viz. Tata Capital Financial Services Limited (TCFSL), Tata Capital Housing Finance Limited and Tata Cleantech Capital Limited, please get in touch with your Relationship Manager. Customers for the loan accounts with more than 3 months instalments due as of 1st March 2020 will not be eligible for evaluation.

If your financial position is not impacted or you do not want to pay additional interest you do not need to do anything. Your EMI payment instrument will be presented as per schedule.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.

For Retail loans (Personal Loan, Business Loan, Home Loan, Two Wheeler Loan, Car Loan, Consumer Durable Loan, Loan against Property, Tractor Loan.)We have sent an email and SMS to all our Retail customers on their registered email id and mobile numbers. Please follow the link provided therein. In case you have not received the SMS /Email, the steps are as below:

1.       Visit the website www.tatacapital.com

2.       Click on “Login” (mentioned on the TOP Right of the website)

3.       Log in using your registered mobile number/email ID and OTP received or User Id & Password

4.       Click on the TAB “EMI Moratorium” (Mentioned on the left side of the Main Page )

5.       Select the loan account/s applicable

6.       Submit request for availing the moratorium

(Note: Please do not send your request to any e-mail ids or to the Relationship Manager directly. Request to be posted only on the website as mentioned above.)

For Non-Retail Loan (working capital loans, Channel Finance, Commercial term loans, loan against shares, equipment financing and leasing, construction equipment and commercial vehicle loans): For any request for such deferment of Commercial customers of Tata capital Financial Services Ltd, kindly approach your Relationship Manager.

You can also click here and fill up the Moratorium application form. You will receive a call from your Relationship manager post filling this in.

(Note: Retail Loan Customers are requested NOT to click on the link above and to follow the process as mentioned in the question above)

Yes. It does. The complete EMI consisting of Principal and Interest part is eligible for deferment. Principal repayment is also eligible for deferment. 

This is NOT A WAIVER, but a deferment. Interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMIs and the accrued interest as per revised repayment schedule.

Deferment will not be available for overdue outstanding amounts as on February 29, 2020. The Instalment falling between March1 2020 and May 31st 2020 can only be deferred. You are liable to pay the outstanding overdue prior to March1,2020 during the moratorium period also. Hence in case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges.

You will need to pay the EMIs and the accrued interest at the end of the original loan period or as decided. Interest at the contracted rate shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future EMI and / or balance tenure may be modified. You will see your revised schedule on the Tata Capital website after the deferment period.

 

Customers who have availed Consumer Durable Loans (CD Loans) to please note that if they opt for deferment, they would also be liable to pay interest for the deferment period at 23.5% p.a.

No. this will be payable after the original loan period or as decided. A revised repayment schedule would be drawn up for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period – June2020. The revised repayment schedule can also be accessed by logging into our website after the deferment period – June 2020.

No. For availing the EMI deferment, you will need to login into your loan account on our website to request for EMI deferment. Pls follow the process explained above. Click here to login and avail the same.

Yes, subject to the other criteria, you can opt for moratorium at your option for any or all the loans availed by you. However, each loan need to be selected while applying for the deferment on our website or through your Relationship Manager.

The deferment of eligible EMIs will not impact the credit rating. In case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately.

After the relief period, your Loan will run as per the revised repayment schedule. Your EMI amount will remain the same.

No. in case of customers whose EMIs due in March 2020 which have been paid, the same will not be refunded.

In case your loan EMIs due in April 2020 / May 2020 are paid but you subsequently opt for deferral within 7 days of the EMI payment, EMIs collected will be refunded. 

If the instalment is paid, then it will not be considered as prepayment and there will not be any prepayment penalty on the same.

For customers eligible for moratorium and If you have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, applicable charges as per the facility agreement will be levied.

Please note once the moratorium relief is availed, it cannot be revoked.

No, there are no charges to avail the moratorium.

Yes, Considering RBI and TCFSL policy guidelines, Moratorium facility will also be available to RLAS customer. Customer may opt for deferment of interest payment during moratorium period. Interest will however accrue during moratorium period and will be debited in statement of account.

For any deferment, retail loan against securities’ customers are required to approach respective Tata Capital Relationship Manager and need to send an email. E- mail should have a subject line as “COVID-19_Deferment Request| Name of the customer

 

The mail body should contain following details:

·         Customer Name

·         Product Availed

·         Loan Account Number

·         Your contact Number

·         Your contact email ID

·         State how COVID-19 has impacted the cash flows of your business

Credit cards dues are covered under the moratorium package. Tata Card customers are requested to visit tatacard.com to know more. https://www.tatacard.com/tata-en/faqs.page

For customers who opt for deferment, the monthly dues will not be billed to the loan account till May 31, 2020. However, during the moratorium period, the interest would continue to accrue on the utilized amount and the principal dropdown of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The Principal dropdown amount and / or balance tenure may be modified. In case your Principal draw down is due between March to May, the principal due will be deferred and the balance tenure will be modified accordingly.

To avail the deferment for your Overdraft facility please click here to log into to your OD account. 

If you choose for deferment of your OD dues you would not be allowed to draw your unutilised OD limit.

Tata Capital Housing Finance - FAQs

Moratorium is a temporary postponement of payment of EMI (i.e. principal and/or interest components; bullet repayments; equated monthly instalments; instalment). RBI has permitted Lenders to grant a moratorium on payment of EMI falling due between March 1st, 2020 and May 31st, 2020. However, interest on the loan outstanding will keep getting levied for the deferred or moratorium period. We will not raise the EMI demand during this period, if you have given the request for availing the moratorium through our website.

The moratorium/deferral option shall be available to all loan customers of Tata Capital Housing Finance Ltd. except for the loan accounts where the EMI is due for more than 3 months as on March 1st, 2020.

For Home Loan (HL) / Home Equity (HE) loans greater than ₹ 5 crores, deferment would be decided on case to case basis. Such customers wanting a deferment should write to us at customercare.housing@tatacapital.com  for assistance.

Yes, moratorium will cover the entire EMI.

This is not a waiver, but a deferment. Interest on the loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMI and the accrued interest as per revised repayment schedule.

If your financial position is not impacted and do not intend to avail moratorium you do not need to do anything. Your EMI will be presented as per schedule.

·         EMI falling between March 1st, 2020 and May 31st,2020 can only be deferred.

·         You are liable to pay the outstanding overdue prior to March 1st, 2020 during the moratorium period also. Hence, in case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to March 1st, 2020, we request you to kindly pay such overdue EMI/ other amount overdue immediately, to avoid normal penal charges.

Interest shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. As a result of this the EMI and / or balance tenure may be modified. You will be able to get the revised amortization schedule on your registered email ID post deferment period in June 2020.

No. A revised repayment schedule would be drawn up for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period – in June 2020.

Please follow the steps below:

1.       Visit the website www.tatacapital.com

2.       Click on “Login” (mentioned on the TOP Right of the website)

3.       Log in using your registered mobile number/email ID and OTP received

4.       Click on the TAB “EMI Moratorium” (Mentioned on the left side of the Main Page)

5.       Go through the FAQ and Terms and Conditions

6.       Select the loan account/s applicable

7.       Give your consent and submit for availing the moratorium

8.       In case you are eligible as per the policy, you will receive a confirmation on your registered email id and / or mobile numbers    

We have acknowledged your mail request and replied to you. For availing the EMI deferment, you will need to login into your loan account on our website www.tatacapital.com to request for EMI deferment. Please follow the process as mentioned in the above question.

The deferment of eligible EMIs will not impact your credit rating. In case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to the moratorium period, we request you to kindly pay such overdue EMI/ other amount overdue immediately to avoid us reporting to credit bureau.

After the relief period, your Loan will run as per the revised repayment schedule. 

No. In case of customers whose EMIs due in March 2020 which have been paid, the same will not be refunded. 

In case of customers whose EMIs due in April 2020 / May 2020 are paid on the due date but who subsequently opt for deferral within 7 days of the EMI payment, EMIs collected will be refunded.

Beyond the period of 7 days, the moratorium will be applicable from the following month and cannot extend beyond May 2020.

For customers eligible for moratorium and If you have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, necessary charges as per the facility agreement will be levied.

Yes. The borrower can continue to repay the loan during the moratorium period. 

You can write to us at customercare.housing@tatacapital.com with details of your loan account.

You may follow the below mentioned steps:

  1. Visit the website www.tatacapital.com
  2. Click on “Login” (mentioned on the TOP Right of the website)
  3. Log in using your registered mobile number/email ID and OTP received
  4. Click on the TAB “EMI Moratorium” (Mentioned on the left side of the Main Page)
  5. Go through the FAQ and Terms and Conditions
  6. Select the loan account/s applicable
  7. Give your consent and submit for availing the moratorium
  8. In case you are eligible as per the policy, you will receive a confirmation on your registered email id and / or mobile numbers

The borrower as prescribed by the company may need to furnish fresh NACH debit mandate.

No, there are no charges to avail the moratorium.

Tata Capital Housing Finance (Construction Finance) - FAQs

Moratorium is a temporary postponement of payment of EMI (i.e. principal and/or interest components; bullet repayments; equated monthly instalments; instalment). RBI has permitted Lenders to grant a moratorium on payment of EMI falling due between March 1st, 2020 and May 31st, 2020. However, interest on the loan outstanding will keep getting levied for the deferred or moratorium period. We will not raise the EMI demand during this period, if you have given the request for availing the moratorium through our website.

For construction finance customers, deferment would be decided on case to case basis. Such customers wanting a deferment should get in touch with their relationship manager for assistance.

Yes, moratorium will cover entire EMI. 

This is not a waiver, but a deferment. Interest on the loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the EMI and the accrued interest as per revised repayment schedule

You don’t have to separately request to continue repayments as per original schedule. However, it is recommended to write to your Relationship Manager.

·         EMI falling between March 1st, 2020 and May 31st,2020 can only be deferred.

·         You are liable to pay the outstanding overdue prior to March 1st, 2020 during the moratorium period also. Hence, in case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to March 1st, 2020, we request you to kindly pay such overdue EMI/ other amount overdue immediately, to avoid normal penal charges and to avoid reporting to credit bureau.

Interest shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized, and a revised repayment schedule would be drawn up. As a result of this the EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period – in June 2020 or please get in touch with your relationship manager.

A revised repayment schedule shall be provided to you at your registered email ID or please get in touch with your relationship manager. Post deferment period, the monthly instalment payable shall be confirmed as per the current prevailing process.

No. A revised repayment schedule would be drawn up for your loan. The EMI and / or balance tenure may be modified. We will intimate you with the revised repayment schedule on your registered email id after the deferment period – in June 2020.

You can write to your relationship manager to apply for moratorium under this scheme from your registered email address with the details. We will evaluate the request and permit the moratorium for unpaid instalments between March 1st, 2020 to May 31st, 2020 as permitted under the scheme.

The deferment of eligible EMIs will not impact the credit rating. In case you have any overdue EMI and/ or other dues pertaining to the loan repayment prior to moratorium period, we request you to kindly pay such overdue EMI/ other amount overdue immediately to avoid us reporting to credit bureau.

After the relief period, your Loan will run as per the revised repayment schedule. 

No, in case your instalment / EMI due in March 2020 has been paid, it will not be refunded.

For customers eligible for moratorium and have opted for a moratorium, late payment charges will not be applicable. For customers not eligible for moratorium and for customers who have not opted for a moratorium, necessary charges as per the facility agreement will be levied.

Yes. The borrower can continue to repay the loan during the moratorium period.

You may make one application for all construction finance facilities availed from Tata Capital. 

You are required to pay the EMIs as per the revised schedule. However, as per the terms and conditions of the facility, pre-payment is permitted.

No, there are no charges to avail the moratorium.

Tata Cleantech Capital - FAQs

RBI has permitted lenders to grant a moratorium on payment of Loan repayment instalments falling due between March 1, 2020 and May 31, 2020 to customers whose cash flows are affected by Covid 19. We will allow the moratorium for this period, if company’s cash flows are impacted and company wish to get deferment for instalment payment by making an application with Tata Cleantech Capital Limited.

Yes. It does. The complete instalment consisting of Principal and Interest part is eligible for deferment.

This is not a waiver, but a deferment. Interest on the Loan outstanding will keep getting levied for the deferred or moratorium period. You will need to pay the instalments and the accrued interest as per revised repayment schedule.

For customers of Tata Cleantech Capital Limited, a case by case evaluation will be done. Such customers wanting a deferment should make an application with proper justification with their relationship manager. The moratorium is only applicable to customers affected on account of COVID 19.

You don’t have to separately request to continue your instalment payments. We will continue to bank your instalments as before.

Deferment will not be available for overdue outstanding amounts as on February 29, 2020. The Instalment falling between March 1st 2020 and May 31st 2020 can only be deferred. You are liable to pay the outstanding overdue prior to March 1st 2020 during the moratorium period also. Hence in case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges.

You will need to pay the instalments and the accrued interest as per revised repayment schedule. Interest shall continue to accrue on the outstanding portion of the loan during the deferment period. Such accrued interest shall be capitalized and a revised repayment schedule would be drawn up. The future instalment amount and / or balance tenure may be modified. 

Please contact your relationship manager in Tata Cleantech Capital Limited (“TCCL”) for guidance on this.

No. A revised repayment schedule would be drawn up for your loan. The instalments and / or balance tenure may be modified. We will intimate you with the revised repayment schedule through e-mail.

Please submit an application to your Relationship Manager at Tata Cleantech Capital Limited for moratorium setting out justification as to how you are affected by Covid -19 and why you should be granted moratorium.

The deferment of eligible instalments will not impact the credit rating. In case you have any overdue instalments and/ or other dues pertaining to the loan repayment prior to 1st March 2020, we request you to kindly pay such overdue instalments/ other amount overdue immediately.

After the relief period, your Loan will run as per the revised repayment schedule. 

Yes, subject to the other criteria, you can opt for moratorium at your option for any or all the loans availed by you. However, for each loan, you need to apply separately by following the stipulated process. 

You may contact your Relationship Manager at Tata Cleantech Capital Limited. If you can’t reach your Relationship Manager, please write to customercare@tatacapital.com with your Customer Identification Number (CIF).

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