Banking sector lender Axis Bank has offered its customers to opt for a moratorium if they face a problem, running their EMIs in line with their actions. Axis Bank said in a tweet, “In view of the Reserve Bank of India’s guidelines on the COVID-19 regulatory package, we are now allowing you to choose an option.”
Axis Bank states that customers can defer payment of installments and interest for various term loans / credit card dues and working capital facilities between March 1, 2020 and May 31, 2020.
The flexibility offer is in line with most of its private sector peers like HDFC Bank, ICICI Bank and Kotak Bindra Bank. Axis Bank has explained the terms and conditions on its website.