Loan moratorium ~~ to know clearly now
- Thread starter drsundaram
- Start date
Vaagmi
0
It is just a postponment of repayment. Only the monthly instalments get postponed. The balance due at any time in the loan account keeps yielding interest to Bank at the rate of interest agreed upon. That too gets determined every month end and added to the principle to become the principle due for the next month. What we call compounding. So it is just a loss to the borrower. It is not at all worth going for.
The Government could have given interest relief also to the borrowers for these three months. But that did not happen.
The Government could have given interest relief also to the borrowers for these three months. But that did not happen.
