Dear Customer,

In light of the COVID-19 situation and RBI circular dated 27th March 2020, 17th April 2020 and 23rd May 2020, IIFL Finance offers all eligible borrowers an option to extend the facility of moratorium for term loan instalments in terms of the policy of the Company.

You may please refer following Frequently Asked Questions (FAQs) in relation thereto:

Who are eligible to avail this facility?

  • All the eligible borrowers whose EMIs falling due between 01st June 2020 to 31st August 2020 shall be given this facility as per the eligibility.
  • This is not applicable to loan disbursements to be made in June-2020 and thereafter. IIFL Finance shall have separate terms and conditions for different types of loan.
  • Customers who have availed COVID-19 Emergency Personal loan shall not be eligible for the moratorium facility.

What happens if you avail this facility?

  • Moratorium of three months on payment of all loan instalments falling due between 01st June, 2020 and 31st August, 2020 for eligible loans. Instalments include all EMI, principal and interest payments, and bullet repayments falling due between these dates.
  • For the moratorium period, Interest would be charged on the outstanding loan amount at the original contracted rate.
  • The repayment schedule of term loans will extend by up to three months and the tenor of the term loan will be commensurately extended.
  • The instalment amounts / EMIs will be accordingly recalculated, including interest during moratorium period.
  • No cheque bounce charges or overdue charges shall be levied to your account for EMIs covered under moratorium.
  • Other credit conditions in the sanction letters / borrowers copy already issued would remain unchanged.
  • An updated repayment schedule shall be emailed to you by the end of August-2020. It can also be accessed through our mobile app and web portal.

Will the moratorium facility be applied by default for all customers who had availed the facility in March, April and/or May 2020?

  • All existing moratorium request placed in the month of March to May 2020 shall not be considered and customers need to re-apply for the moratorium.
  • IIFL Finance would be presenting the post-dated cheques / actioning ECS or NACH mandates etc., provided by the customer, for collection as per the EMI on the respective due dates.
  • Those borrowers whose instrument sent for collection is not cleared, as mentioned above and if eligible, the necessary relief would be provided as per the RBI guidelines.

What if you have already paid instalment(s) upto May 2020 and wishes to avail for subsequent period?

  • If you have already paid the instalment(s) upto May, you can avail moratorium for instalments falling due in June, July and August, 2020.

What if you have not yet paid instalment(s) prior to 1st March 2020?

Does the moratorium affect my Credit Rating?

  • No. Opting for the EMI moratorium will not affect your Credit Rating or Score.

So what steps do you need to take?

  • Please fill the form for us to take this forward. (All fields are mandatory)
  • Kindly note, in case of multiple loans, you should repeat this process for the other loans too.
  • In case any of the information provided by you is incorrect, we will be unable to process your request.

For any query, please feel free to write to us at

Please note:

  • With respect of concessions/reliefs granted under this policy, requisite documentation may be taken by IIFL Finance, including through electronic form.
  • IIFL Finance retains the discretion to take decisions regarding this policy depending on case specific issues or nuances. IIFL Finance reserves the right to amend the policy within the framework of RBI regulations.
Apply for Facility of Moratorium Loan