# How much do you pay after moratorium?

If I opt for a moratorium, will I have to pay extra charges? There are no extra charges for availing the moratorium, however interest at the existing rate will be continue to be charged on the outstanding principal amount for the moratorium period, which will keep getting accrued.

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## Moreover, how do you repay a moratorium loan?

Borrowers who had the option to opt for this moratorium are now required to repay it. The repayment can be done either in lump-sum amount or borrowers can ask lenders to add these to their outstanding loan and increase the EMI for the remaining months.

Similarly one may ask, how is 6 months EMI calculated? The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

## Likewise, how is HDFC moratorium interest calculated?

Note: * Extra interest incurred during the moratorium period of 3 months = 4000 (Month 1 interest) + 4040 (Month 2 interest) + 4080 (Month 3 interest) = Rs. 12,120.

## How is interest calculated in moratorium period?

How to use the moratorium EMI Calculator?

1. Enter your loan amount. …
2. Enter the Rate of Interest. …
3. Enter your loan tenure. …
4. Enter the number of EMIs you have already paid.
5. Enter the number of months for which you would had taken the moratorium facility between Mar – May, 2020.

## Is HDFC Bank giving moratorium in 2021?

HDFC Bank has announced that it has extended the moratorium on all term loans like auto loans, personal loans and home loans, as well as on credit card dues.

## Is moratorium interest free?

During the moratorium, borrower paid interest on the interest, or compound interest. This is because interest due every month got added to the total loan amount.

## What is the benefit of moratorium?

It reduces your financial stress and gives you a breathing space to plan your finances better. You can use the moratorium period to plan your monthly income and expenditure to repay your EMIs. During this period, you can save funds for subsequent EMIs or pay for other expenses.

## What is the formula to calculate EMI?

How is EMI calculated? The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.