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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 laid down by the 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 has announced an extension of the regulatory package due to COVID-19 and pursuant to this Tata Capital has also decided to extend the moratorium / deferment to its eligible customers in respect of their Loan EMI falling due between 1st June 2020 and 31st August 2020 subject to Terms and Conditions.
Please note that the interest on your outstanding loan amount would keep on getting levied during the moratorium / deferment period and will be added to your future instalments.
In case you want to apply for the moratorium/deferment of EMI please read through the detailed FAQs below and log in to your loan account to provide your consent to the terms and conditions. Customers who have already opted for March, April or May EMI deferment will also have to separately apply for deferment of EMI falling due during June / July / August 2020 period.
We have revised our moratorium policy from June 2020 onwards. All customers who have applied / want to apply for the moratorium for June 2020 to August 2020, please refer to the revised FAQs in the section below.
In case you have availed the moratorium during March/April/May 2020, please refer to the previous Moratorium related FAQs by clicking on the 'Know More' button.
Moratorium is a temporary postponement of payment of interest / principal / instalments. RBI had initially permitted Lenders to grant a moratorium on payment of Loan instalments falling due between March 1, 2020 to May 31, 2020. The Reserve Bank of India announced an extension of the regulatory package under which Tata Capital borrowers are eligible for a moratorium / deferment of their Loan repayment for 3 months for the instalments due between 1st June 2020 and 31st August 2020. However, interest on the Loan outstanding will keep getting levied for the deferred or moratorium period.
Please note if you apply for the Instalment moratorium facility after your instalment due date, we will refund only to the eligible base decided as per internal policy.
The Instalment falling between 1st June 2020 and 31st August 2020 can only be deferred now. We will no longer consider requests for the instalment deferment for the period 1st March 2020 to 31st May 2020.
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.
The borrowers who have already opted for March, April or May instalment deferment will also need to separately apply for instalment deferment for the June – Aug 2020 period.
Borrowers who have not applied for moratorium earlier or who have withdrawn their application later can also apply for the June – Aug 2020 period.
Yes you can apply for moratorium for only one month or two consecutive months. However, you can not apply for June and August months.
If your financial position is not impacted or you do not want to pay additional interest you need not do anything. Your instalment payment will be processed as per schedule.
We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.
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.
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 EMIs and the accrued interest as per revised repayment schedule that you will receive after the end of moratorium period i.e. 31st August, 2020.
Deferment will not be available for any overdue outstanding amounts as on February 29, 2020 if you have taken moratorium for instalments falling in March – May 2020 period.
If a borrower has not applied for moratorium earlier and applies now for June – Aug 2020 period, all overdues as on 31st of May will not be deferred. Such overdues are payable on immediate basis.
Also, you are liable to pay such outstanding overdue during the moratorium period also. In case you have such overdue instalments and/ or other dues pertaining to the loan, we request you to kindly pay such overdue instalments/ other amount overdue immediately, to avoid normal penal charges.
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 instalments and / or balance tenure may be modified.
No. this will be payable as per the revised repayment schedule. A revised repayment schedule would be drawn up for your loan. The instalment and / or balance tenure may be modified. We will intimate you with the revised repayment schedule.
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.
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.
No, there are no charges to avail the moratorium.
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 firstname.lastname@example.org with your Customer Identification Number (CIF).