A temporary pause on loan repayments, usually offered during financial hardship. During COVID-19, RBI offered a 6-month moratorium on all term loans. Interest continues to accrue during the moratorium — your loan becomes more expensive.
During COVID-19, you opted for the 6-month EMI moratorium on your ₹30,00,000 home loan. While you didn't pay EMIs for 6 months, interest of about ₹1,35,000 was added to your outstanding loan — you ended up paying more in the long run.
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