Availing Moratorium

Whether it’s your family’s well-being, work or your peace of mind - there’s a lot to deal with and we understand that. Be assured, we are there for you as we walk through this together. Taking good care of your financial health is important to us and under the RBI COVID-19 Moratorium directions, we had offered our customers a moratorium via EMI deferment till 31 May 2020 for our retail loans (Mortgage and Personal loans). The moratorium was provided on EMIs during the months of March, April and May 2020, unless you had chosen to opt-out of the moratorium.

As per the EMI deferment plan, the interest applicable during the moratorium period will accrue as earlier and will be added to the outstanding loan amount. Accordingly, revised loan repayment schedules have been shared with all customers who had chosen the EMI moratorium option, before the end of the loan moratorium period – i.e. 31 May 2020.

Subsequently, there has been a revision to the RBI Guidelines: Reference is drawn to circular no. RBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 “COVID-19 – Regulatory Package” dated May 23, 2020 (https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11902&Mode=0). In view of the extension of the lockdown and continuing disruptions on account of COVID-19, the Reserve Bank of India (RBI) announced an extension of the moratorium on loan EMIs for the period- June, July and August 2020.

Customers who have already OPTED-IN for the moratorium during the period March-May 2020: We will continue moratorium extension automatically till 31 August 2020, unless you choose to opt-out of the moratorium by visiting below pages.


Consumer Banking

Click on the below links to know more:

Treasures customers: https://go.dbs.com/2JBPVqf

digibank customers: https://go.dbs.com/2UHy1sp


Institutional Banking

1) Rescheduling of Payment - Principal and / or Interest:

  • For Term Loans facilities, extending a choice to customers of availing moratorium of three months on payment of all instalments (comprising of (i) principal and/or interest components (ii) bullet repayments and (iii) Equated Monthly instalments) falling due between March 1, 2020 and May 31, 2020 (“the moratorium period”).
The tenor of the Term Loan will get extended appropriately to enable the deferred instalments to be collected at the end of the tenor.
  • For Working Capital facility in the form of Cash Credit / Overdraft facility (“CC / OD”), extending a choice to the customers  for opting deferment of recovery of interest payments falling between March 1, 2020 to May 31, 2020 (“the moratorium period”).

Eligibility criteria:

a) Applicable to all eligible credit facilities granted and outstanding with DBIL as on February 29, 2020.

Instalments of term loans or working capital facilities and interest already due before 1 March 2020, will be outside the purview of this relief measurement; hence, no relief under this policy will be provided to customers on such overdues.  This is not applicable to loans disbursed in March 2020 and loan disbursements to be made in April 2020 and thereafter. 

b)The customer needs to submit a written application requesting for exercising their choice towards availing the moratorium and/ or Interest deferment. To address the hardships for the customers in the prevailing lockdown condition, an application made via registered e-mail or digital mode will be acceptable & should be addressed to the to the Bank's Relationship Manager.

Customers are requested to be conversant with the below terms before exercising the option:

A) Interest shall continue to accrue on the outstanding portion of the term loans and working capital facilities during the moratorium period.

B) The Bank will not charge any penalty on account of scheduling of Term loans or working capital under this policy.

C) For term loans, the accumulated accured interest may be capitalised and amortized over the revised tenor or recovered separately with a time lag of 3 months. The Bank will intimate to its borrowers accordingly.

D) For CC/OD facilities, the accumulated accrued interest shall be recovered immediately after the completion of the moratorium period.

2) Easing of Working Capital financing:

Further for easing of Working Capital facilities, in appropriate cases at its sole discretion, at the specific request of borrowers, the Bank may reassess the working capital requirement factoring the Covid-19 impact on customer’s business. This will be for the same 3-month period referred to above and will be through reducing the margins for drawing power computation and/or by reassessing the working capital cycle. This relief shall be available in respect of all such changes effected up to May 31, 2020.