This is a pre-approved loan. The Reserve Bank of India today removed the moratorium imposed on Yes Bank, thereby enabling customers to access full banking services from March 19. Q. When do I have to pay the interest that would have accrued during the moratorium period? Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For non EMI based corporate loans, the repayment schedule for the term loan shall have a parallel shift of all instalments by a period of up to three months, in case the moratorium benefit is availed. For making such request, you will need to write to your Relationship Manager to take the assessment forward. Q. I am a borrower who has been affected by the COVID-19 situation. The moratorium has been lifted, but I can only pay partial amount of my EMIs/dues. Extended Moratorium Scheme is available to all YES BANK Commercial Credit Corporate Customer, except those who have been classified as Non-Performing Asset (NPA) on their Credit Card as on February 29, 2020. However, there will be additional EMIs which will be payable on account of the impact of the deferred interest during the moratorium period. The card can be used for fresh purchases only upon payment of Minimum Amount Due as per your most recent statement. For such borrowers, the moratorium scheme shall be extended by the Bank automatically. If I have taken loans through Self Help Groups/Joint Liability Groups, do I need to submit specific request for availing the moratorium benefit? How can I avail this benefit? We have also… https://t.co/TgtI4qViC0. Im Bilanzjahr 2013/2014 weist sie eine Bilanzsumme von 109 Milliarden INR (1,58 Milliarden Euro) aus. 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. Q8. The Bank can provide extension of tenure (maximum up to three months), in case these facilities are unpaid and due between March 01, 2020 and May 31, 2020 subject to satisfactory assessment by the Bank of the impact of COVID-19 on your business and working capital cycle. Yet my EMIs were deducted. The borrower must be GST registered in all cases where such registration is mandatory. 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. 3 lakh crore is sanctioned under GECL across all bank and lending institutions, whichever is earlier. Credit under GECL would be up to 20% of the borrower’s total outstanding credit up to Rs. Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more. if the EMIs for the months of March, 2020 to June, 2020 are paid, and the moratorium for the months of July and August, 2020 has been availed, then the loan tenure will be extended by corresponding period. Q. The unpaid EMIs along with the accrued interest have been added to balance outstanding. Will YBL ask for any additional collateral for the GECL facility? The Bank’s communication (email and SMS) to customers also includes a link to opt-out in addition to details pertaining to the extended moratorium. If so, to what extent? Q. 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. I have LC payments that have devolved in March 2020. Can I avail additional working capital limits under the “Easing of Working Capital Finance” guidelines that are part of RBI’s COVID-19 Regulatory package? The Bank only will accrue the interest as per the loan contract rate during this period. Will GECL be extended as a separate loan account, or as part of the existing loan account of the borrower? What is the Extended Moratorium Scheme (June 1, 2020 – August 31, 2020)​? In case I opt for moratorium, which instalments does the moratorium cover? Yes, interest rates on GECL are capped at External benchmark rate + Bank’s internal spread + 1% subject to maximum of 9.25% per annum. The term “Interest” shall mean and include Finance Charges on revolving credit, on cash advance and/or on overdue amount as specified in the Schedule of Charges​. Why is my post moratorium due amount increased? You can now experience the full suite of our services. 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. Accounts classified as NPA or SMA-2 as on Feb 29, 2020 will not be eligible under the Scheme. No additional collateral shall be asked by YBL for additional credit extended under GECL. Will this not lead to reduction of our available CC/OD limit as the interest will get debited into the utilised amount and therefore consume the limit? Moratorium is processed for all eligible customers as per the regulatory conditions. This account will be distinct from the existing loan account(s) of the borrower. If am part of the moratorium scheme, when do I have to make my final payment post the scheme? A. Q. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. As per current guidelines, NCGTC will not charge any guarantee fee under the Scheme. Borrower(s) who had not opted-in for moratorium benefit during the previous moratorium ending on May 31, 2020 and had honored the dues during the period March 01, 2020 to May 31, 2020, can opt-in for extended moratorium benefit i.e. For reprint rights: Times Syndication Service", Self-assessment of dues by Airtel, VIL, Tatas Rs 82,300 crore short of DoT's AGR math, The Samsung Galaxy F41 is on Sale finally! The Reserve Bank of India (RBI) has issued COVID-19 – Regulatory Package notification, dated March 27, 2020. 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. After the lifting of moratorium my EMI amount has not changed, but my Credit Card EMI/Loan EMI payment tenor has increased. In case accounts for FY 2019-20 are yet to be audited/finalized, then Bank may rely upon the borrower’s declaration of turnover or GST returns. All rights reserved. A. 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. The tenor of loans provided under GECL shall be four years from the date of disbursement. 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. Will I continue to get the Credit Card statement if I am part of the extended moratorium scheme? CC or OD - No interest shall be debited to the customer account for CC or OD for opt-in customers. Will my Credit Score be impacted if I am part of the Extended Moratorium Scheme on Credit Card? This condition will not apply to borrowers that are not required to obtain GST registration. I had opted for Moratorium on Credit Card EMI/Loan EMI EMIs from June 1, 2020 to August 31, 2020. No. Request you to please make the payment on or before the due date. A. A. Q. The moratorium was for payment of all instalments falling due between March 1, 2020 and May 31, 2020. Our banking services are now operational. Q9. Jet-II becomes a possibility as creditors clear revival plan after months of tal... Peace along LAC 'deeply disturbed', impacting India-China ties: Jaishankar, Virus is genetically stable, no major mutation in it, says PMO. However, there will be additional EMIs which will be payable on account of the impact of the deferred interest during the moratorium period. Q. 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. 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. The principal shall be repaid in 36 instalments after the moratorium period is over. Borrowers under which constitutions are eligible to avail this scheme? Please find below an example of how the interest shall accrue on your Credit Card outstanding of INR 1,00,000/- for three months period. The Bank can provide extension of tenure (maximum up to three months), in case these facilities are unpaid and due between June 01, 2020 and August 31, 2020 subject to satisfactory assessment by the Bank of the impact of COVID-19 on your business and working capital cycle. Corporate customers who are part of the Extended Moratorium Scheme after June 9, 2020, can opt out any time during the Extended Moratorium Period by making a payment of Total Amount Due (TAD) as per their latest statement. In accordance with the circular, YES BANK offers an extension of the Moratorium Scheme on Credit Card payment dues from June 1,2020 to August 31, 2020. Q5. 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. 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. A. Will loans under the Scheme be automatically given without any application or solicitation from the borrower? Will this not lead to reduction of our available CC or OD limit as the interest will get debited into the utilised amount and therefore consume the limit? Interest shall, however, be payable monthly during the moratorium period. (i) Principal and/or interest components; (iii) Equated Monthly Instalments or EMIs; Q. 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. Will I be charged penal charges or penal interest for availing the moratorium benefit? Hence, they will not be allowed to transact on their Credit Card during the Extended Moratorium Period. Copyright © 2018-2019 YES BANK. 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. I had availed of Credit Card EMI/Loan EMI on Credit Card and opted for EMI moratorium on it. However, payment for such statements can be made at the end of the extended moratorium period. Die Yes Bank ist eine indische Bank. How can I apply for EMI refund? Q. I understand that the RBI’s COVID-19 Regulatory package allows Banks to reassess working capital requirements. Although the bank expects that there may not be a rush to withdraw cash, still it is prepared for any possible surge in withdrawals. All eligible Corporate customers, who do not opt for the Extended Moratorium Scheme, but miss paying the Total Amount Due on or before their due date as per statements generated during the Extended Moratorium Period, shall be automatically considered to be part of the Moratorium Scheme. The moratorium on Yes bank Ltd. could be lifted as early as this Saturday, according to Reserve Bank of India-appointed administrator Prashant Kumar. The moratorium covers all unpaid principal and interest dues for the month of March, 2020 and all principal and interest amounts falling due in the months of April and May, 2020.

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