BAJAJ FINANCE LIMITED

Frequently Asked Questions

Covid-19 Moratorium on Term Loans

Date: 25th May 2020

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Frequently Asked Questions on Moratorium under Covid-19

• Is Bajaj Finance Ltd (BFL) offering moratorium to its customers?

BFL is offering moratorium to its customers with consistent loan repayment track record. To
become eligible for moratorium, customers should have no more than 2-EMIs overdue in any of
their loans as of February 29, 2020.

• For which month EMI can I request a moratorium?

Customers can request moratorium for their EMIs that are due and unpaid in month of June,
July and August 2020.

• How can I place request for Moratorium?

If you wish to avail moratorium, please raise a request for EMI Moratorium through customer
portal (https://www.bajajfinservmarkets.in/cust/)

1. You will need to login and authenticate yourself

2. Select “Loans” in Product
3. Select Product Type – Loan type
4. Select “Stop Future EMIs – Covid19 Moratorium” in Request Type and ‘Deferment of EMI for
June to August 20’ in Request Sub Type
5. Select Product number ‘Loan Account number’
6. Type your query and submit
7. You will get pop-up with Terms & conditions
8. Select Accept if you wish to avail EMI moratorium

• When can I place a request for Moratorium?

You need to place a request before 26th of the month, prior to month in which EMI will be getting
debited from your bank account. For example, for defering EMI of June month, you need to raise
request before 26th of May.

• Will I be communicated if my request for moratorium has been accepted?

Post receipt of your request, we shall communicate only if your request has been rejected for
any reason

• Will I be given moratorium for all my active loans with BFL and will I need to give separate
request for all loans?
If you are eligible for moratorium based on your consistent past repayment of EMIs and you are
not more than 2 EMIs overdue in any of your loans with BFL, you will be offered moratorium for
all your active loans with BFL. You need to give seperate requests to avail moratorium for each
of your active loans. You must provide details of your loan account numbers and confirmation
that you are ready to bear the cost of applicable interest for the period of moratorium.

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• How will the treatment of my loan be after the moratorium period?
1. If you avail the EMI moratorium, there will be a levy of interest at the contracted rate of the
loan for the period of EMI moratorium on the loan outstanding. Such interest will be collected
by extending the original tenor of the loan accordingly. For Flexi loan tenure will remain
unchanged, EMI will increase.
2. Interest will be applicable for the no cost EMI consumer durable loans too for this moratorium
period. You shall be communicated on the interest applicable for your moratorium request.
3. You would be able to check the same in your Statement of Account on our Customer Portal
(https://www.bajajfinservmarkets.in/cust/#/) or Mobile App (https://bfsmarkets.in/mobileApp)

• If I do not want the EMI moratorium, what should I do?

1. If you do not want the EMI moratorium, no further action is required from your side. We will
continue to bank your repayment instructions.
2. We encourage customers with adequate funds to continue paying during this period to avoid
the extra interest charges and tenor extension.

• Why was my account debited when the RBI has announced a moratorium?
Opting for the Moratorium is entirely the customers’ choice and subject to Company’s
moratorium policy. We understand that all our customers may not opt for the Moratorium given
that there is an additional interest payable under the terms of the Moratorium.

• How will the interest be recovered for the no cost EMI loans on which moratorium is
availed?
For No Cost EMI loans & consumer durable loans, the upfront interest applicable is borne by the
dealer/retailer at the time of purchase and is shared in your statement of account. Thus, it helped
you to pay the product price in instalments instead of a lump-sum amount. If you are now opting for
a moratorium, your loan tenor will be increased. Hence, interest @ 24% per annum will apply on the
outstanding loan amount. This amount will be added to your EMI repayments to us.

• Will I be required to submit any documents, fresh NACH debit mandate?

The borrower may need to furnish fresh NACH debit mandate as may be required by the company

• Will my EMIs get debited from my bank account during the moratorium period?
For all loans which have been offered moratorium, we shall on a best effort basis be putting the EMIs
on hold, subject to the receipt of moratorium request before the cut off date and acceptance of your
moratorium request.

• Will bounce charges be levied for EMIs of the moratorium period?

Customers who raise a request for opting for EMI moratorium before 26th of the month, prior to
month in which EMI will be getting debited from their bank account, will not be levied any EMI

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 bounce charges. For the customers who do not clear their outstanding through the month will also
be evaluated for providing automatic moratorium. They will be liable to pay bounce charges but late
payment penalty will not be charged.

• Will late payment penalty be levied for EMI months of the moratorium period?
For the EMI months in which moratorium has been offered, BFL shall not be levying any late
payment charges. If any late payment charges get levied, the same shall be waived off/reversed.

• Will my Credit Bureau records be impacted if I apply for Moratorium?

If you are eligible and you have availed of the moratorium, your credit bureau records will not
be impacted due to non-payment of EMIs during the moratorium period. This does not apply to
any non-payment of EMIs that would have been reported to the credit bureau prior to 01 Mar
2020. However, that you availed the moratorium facility will get reported to Credit Bureaus.

• Can the borrower pay in between the moratorium period?

It is a relief granted to the borrower due to the temporary disruption caused by the sudden
lockdown. However, the borrower has an option to make any advance EMI payment as per
existing terms of his loan.

• If my loan is already in NPA as of Feb 29, 2020 will the moratorium be applicable to me?
No. However, the committee reserves the right to take a case by case view for such cases

• I was promised for cashback/vouchers while taking Consumer Durable loan from Bajaj
Finance. If i opt for moratorium, will I still be eligible to receive cashback/vouchers on my loan
To become eligible for any cash back/vouchers, a customer must fulfil all the terms and
conditions which were informed to you while taking the loan.

• I was informed that in order to become eligible for cashback/vouchers I must clear 1st 3 EMIs
of my consumer durable loan. My 1st EMI was cleared on 2nd March 2020 & I opted
moratorium from April to August EMIs. When will I become eligible for my
cashback/vouchers?
1. If the conditions include re-payment of 3 EMIs without any bounce, and the customer opt for
moratorium, then the customer must clear the 3 EMIs without any bounce excluding the
moratorium period.
2. In this case, if the 1st EMI was clear on 2nd March 2020, and opted moratorium from April to
August, the customer will have to clear remaining 2 EMIs in the months of September and
October to become eligible for any offer

• I was informed that in order to become eligible for cashback/vouchers I must clear 1st 3 EMIs
of my consumer durable loan. My 1st EMI, which was due on 2nd March 2020 got bounced

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 due to insufficient balance. However, I opted moratorium from March to Aug EMIs. Will I be
eligible for the offer?
If the March EMI was falling under the fulfilment criteria for any consumer promo fulfilment,
and the customer bounced that EMI, the customer will become automatically ineligible for
promo fulfilment even though he/she opted for moratorium later.

• I was informed that in order to become eligible for cashback/vouchers I must clear 1st 3 EMIs
of my consumer durable loan. My 1st EMI, which was due on 2nd April 2020 got bounced due
to insufficient balance. However, later I opted moratorium from April to August EMIs. Will I be
eligible for fulfillment?
In this case, since the customer opted Moratorium from April to Aug EMIs, the customer will
have to clear the 3 EMIs in the months of September, October & November without any bounce
to become eligible for the offer.

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