Hence, they will not be allowed to transact on their Credit Card during the Extended Moratorium Period. NEW DELHI: In a big relief for depositors, Yes Bank on Wednesday announced that it has resumed complete banking services, which was stopped after the Reserve Bank of India (RBI) placed it under moratorium earlier this month. 5 crore. Here is a look at the details of Yes Bank's moratorium on loan EMIs and credit card dues. All Corporate customers who are part of Extended Moratorium Scheme, their Credit Card shall be in the temporary blocked status after June 9,2020 till the Extended Moratorium Period. After the lifting of moratorium my EMI amount has not changed, but my Credit Card EMI/Loan EMI payment tenor has increased. However, if you have been assessed to be an eligible borrower for availing ‘Easing of Working Capital Financing’ as outlined in the questions above, the Bank would reassess your working capital cycle or drawing power or request for additional CC or OD limits and where justifiable, make available such relaxations that could ease your ability to make payments under the LCs availed for working capital purposes. Q4. Q. In case I opt in for moratorium, which instalments does the moratorium cover? Die Yes Bank ist eine indische Bank. The moratorium benefit for the principal and interest as per RBI guidelines is eligible for dues falling between March 01, 2020 and August 31, 2020. The LC payments already due or that may fall due during March 01, 2020 to August 31, 2020 need to be paid or honoured. Q. Q1. The non-state lender on its part is not reporting such customers to these institutions. The schedule of repayment of such interest shall be communicated by the Bank to the borrower. No NOC will, however, be required if the GECL availed from a particular lender is limited to the proportional 20% of the outstanding credit that the borrower has with that lender. For the retail loans under the Equated Monthly Instalments (EMI) structure, the tenure will be extended by the corresponding period for which the moratorium is availed e.g. For CC/OD facility, the accrued interest shall be payable immediately after the completion of the moratorium period on June 01, 2020. Latest GST News - Insights on GST - YES Bank, GUARANTEED EMERGENCY CREDIT LINE SCHEME FOR MSME, YES:Head-Startup - Curated Banking Solutions for Startups, Corporate Social Responsibility & Positive Impact, Policy Advocacy through Thought Leadership, University School Relationship Management, Steps to report an unauthorized transaction, Services for Senior Citizens & Customers with Disabilities. Can I extend my moratorium further as I am unable to pay my credit card dues/Credit Card EMI/Loan EMI EMIs? Will I continue to get the Credit Card statement if I am part of the extended moratorium scheme? The Scheme is valid only for existing customers on the books of the MLI. Q9. If I had opted Moratorium 1.0 (for the period of March, 2020 to May, 2020), is it mandatory to apply for moratorium 2.0 (for the period June, 2020 to August, 2020) again to avail the benefit of moratorium? The Reserve Bank of India today removed the moratorium imposed on Yes Bank, thereby enabling customers to access full banking services from March 19. The above FAQs refer to the broad guidelines that the Bank shall follow with respect to implementing COVID-19 regulatory package. Do I need to submit fresh Auto Debit / Post Dated Cheque’s / NACH mandates? However, in case the borrower does not pay such accrued interest as and when the same becomes due, then penal charges or penal interest would be applicable. — YES BANK (@YESBANK) 1584536656000 On March 5, the Reserve Bank imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor after it found that the new management was unable to raise the urgent core capital which had fallen much below the mandated level. This condition will not apply to borrowers that are not required to obtain GST registration. YES BANK recommends that customer with adequate funds and cash flow continues to pay the instalments (to the extent possible) within the due date to avoid additional interest and elongation of tenure. Q. The customers are required to pay at least the Minimum Amount Due or the Total Amount Due on their Credit Card on the next due date as per the last statement. Ageing of all standard asset (non NPAs) overdues prior to March 01, 2020 will get standstill benefit in line with RBI guidelines for those borrowers/facilities that have been provided the moratorium benefit. Term Loans – The accrued interest shall be payable after the completion of the moratorium period. supply chain disruptions, manpower shortage, lack of or drop in sales offtake and partial or complete shutdown of manufacturing facilities, among others) and provide the relevant supporting documents. The unpaid EMIs along with the accrued interest have been added to balance outstanding. The LC payments already due or that may fall due during March 01, 2020 to May 31, 2020 need to be paid or honoured, and are not eligible for relief by way of this moratorium scheme. If I avail the moratorium, then will this have an impact on credit or bureau score? If I avail this moratorium, is it that the Bank will not charge any interest during the moratorium period? Since the moratorium ended on 31st August 2020, you are required to pay the dues as per your payment due date at the end of the moratorium. We are in the process of finalising our policy to restructure Credit Card EMI/Loan EMIs for impacted customers as per regulatory guidelines. This interest accrued during the moratorium period shall need to be paid by the customer to the Bank at the end of the moratorium period. Q. No, if you opt for the moratorium scheme, the residual tenure will increase to recover the accrued interest during moratorium period. Q. Q. Mirae Asset Emerging Bluechip Fund Direct-Growth, ICICI Prudential Bluechip Fund Direct-Growth, Yes Bank loan EMI moratorium: All the terms, charges, On 27 March 2020, the Reserve Bank of India (RBI) said that all lending institutions, including banks and housing finance companies, will have to give their borrowers a three-month moratorium on term loans. When do I have to pay the interest that would have accrued during the moratorium period? Q. Revised schedule of loan repayment will be communicated to you. If the borrowing entity decides to avail the loan, it will be required to complete requisite documentation. No additional collateral shall be asked by YBL for additional credit extended under GECL. Your Commercial Credit Card will continue to accrue interest (Up to 28.8%p.a., as per the product offering) as per the interest rate applicable on your Card (please refer to Most Important Terms and Conditions – MITC available on www.yesbank.in for charges as applicable) and will be payable on the due date at the end of the Moratorium period. Q. Will I be charged penal charges or penal interest for availing the moratorium benefit? However, it may be noted that the Bank retains the discretion to take decisions or amend any of the above, in line with its policy and RBI guidelines basis case and product specific aspects. The same would be updated shortly. What if I make any repayment(s) during the moratorium period after availing the moratorium benefit? if the EMI for the month of March, 2020 is paid, and the moratorium for April and May, 2020 has been availed, then the loan tenure will be extended by two months. What is the process for opting-in? If I avail the moratorium, we understand as per RBI guidelines that interest will continue to accrue. For example, a customer with an EMI based loan having Principal outstanding of INR 15 lakh with a residual tenure of 15 years, would need to pay an approximate additional interest of INR 1.01 lakh [assuming ROI of 8%] i.e. Such Corporate customers, in case they wish to opt out of the Extended Moratorium Scheme, are requested to make payment of the Total Account Due (TAD), as per their May 2020 statement on or before June 9,2020. In Indien ist sie damit die fünftgrößte Bank im Privatsektor. Interest shall, however, be payable monthly during the moratorium period. Sie betreibt über 1.120 Filialen in 375 Städten und hat in ganz Indien verteilt über 1.450 Geldautomaten. Can I claim deduction on principal of home loan EMI paid if I have not received possession of property?

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