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Most private banks choose 'opt-in' option on loan repayment moratorium

Largest private sector lender HDFC Bank said it would encourage customers with adequate funds to continue repayments to avoid the extra interest charges and tenor extension of the loan

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A slew of state-run banks, which control over two-thirds of the system, have gone for an “opt-out” option where the repayments automatically get deferred unless a customer informs of her willingness to pay.

Press Trust of India Mumbai

2 min read Last Updated : Apr 01 2020 | 9:41 PM IST

Most of the private sector lenders have decided to go for the "opt-in" option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India.

Largest private sector lender HDFC Bank said it would encourage customers with adequate funds to continue repayments to avoid the extra interest charges and tenor extension of the loan. The Reserve Bank last Friday announced a three-month moratorium on loan repayments in the wake of Covid-19 crisis for dues to be

Topics : Reserve Bank of India RBI Bank loans Private banks public sector banks State Bank of India SBI ICICI Bank HDFC Bank Kotak Mahindra Bank

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