BANKING AFFAIRS

Detailed explanation-1: -A moratorium period is the time during a loan term when the borrower is not required to make any repayment. It is a waiting period before which repayment of EMIs resumes. Normally, the repayment begins after the loan is disbursed and the payments have to be made every month.

Detailed explanation-2: -A moratorium period delays this repayment and allows the borrower a grace period before they can start repaying the loan via fixed monthly payments (EMIs).

Detailed explanation-3: -A moratorium period is a period during which the borrower is not obligated to make payments. In other words, during a moratorium period, the borrower is permitted to halt their payments.

Detailed explanation-4: -A repayment holiday is a pause on your home loan repayments. Repayment holidays can occur when you’re changing jobs, experiencing short-term injury, on maternity leave or other special circumstances. It is often that a repayment holiday is only available when you’re ahead of scheduled repayments on your loan.

Detailed explanation-5: -A moratorium period, which is similar to forbearance or deferment, is when your lender allows you to stop making payments for a specific period of time and for a specific reason. Usually, the reason involves some kind of financial hardship.