Citi Bank’s Moratorium for Home Loan, Personal Loan, Credit Card & Ready Credit Customers

22 May 2020 // 31 min read // #mmm news
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Following RBI’s directions for deferring repayments of customers for Term Loans and Credit Cards, Citibank has also allowed its customers to opt for Covid19 relief Moratorium. The bank is sending SMS to its customers for choosing the option of not paying outstanding EMIs & dues falling between 1st Mar 2020 to 31st Aug 2020.

For any communication regarding moratorium, customers can write an email from their registered ids at:

For credit card related query, customers should mention “Credit Card XXXX” in the subject (XXXX – Last 4 digits of the card)

Emi Moratorium CalculatorCOVID 19 Insurance Plans

During this 6 Months period, the bank will neither apply any penal charges for delay in payments, nor will it report to credit bureaus about the status, and no EMI will be processed. The interest will, however, continue to accrue as per the contracted rate. The outstanding amount, along with the accumulated interest, will be recovered after the Moratorium period.

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The Citi bank on Thursday released its detailed FAQs on Moratorium Package for the customers.

Here are the excerpts:


✅ What is Citi’s “Moratorium” relief package for customers in India?

Citi Bank has extended a three months Moratorium option to its Credit Card, Home Loan, Personal Loan, and ready credit customers. The customers can choose not to make payments for EMIs/ dues pending for 6 months- March, April, May, June, July and Aug 2020.

No late payment charge or payment return charge will be levied during this period. The deferment will also not affect your credit rating.

However, for Credit Cards, the applicable interest will continue to accrue and will be charged after the expiry of the moratorium period. For Term Loans, the accrued interest and outstanding EMI will be adjusted by extending the loan tenure. While for Ready Credit Accounts, the interest will be accrued and auto-debited from the linked Savings Account on the regular due date.

✅ How do I know if I am eligible for Moratorium benefits?

All eligible customers will receive Citi Bank communication via Email or SMS. All Home Loan, Personal Loan, and Ready Credit accounts will be eligible, subject to their past repayment history. Credit cards with no defaults or prior dues as of March 2020 are available for Moratorium.

✅ What is the moratorium duration of COVID 19 relief by Citibank?

The moratorium is offered for EMIs & dues pending for payment up till Aug 31st, 2020.

✅ How is the interest rate accrued for the deferred payments?

Credit Cards: The interest will be levied on outstanding amount. Thus, if you choose to make a part payment during the moratorium period, the interest cost will also be reduced. For fresh purchase, the interest-free period will not apply, and interest will be applied from the date of the transaction.

Home Loan & Personal Loan: The contracted interest rate will continue to accrue during the moratorium period. The accumulated interest will be added to the total loan outstanding. The tenor will be adjusted accordingly at the end of the moratorium period.

Ready Credit: The interest will be accrued and deducted from the linked Savings Account on regular dates.

✅ Is there any late payment fee for deferring bank payments?

No, there is no late payment charge for the moratorium period. For refunds, there is no payment return fee.

✅ Will my Credit Score reduce because of Moratorium?

No, there will be no adverse reporting on your credit bureau records for payments not received during the moratorium period. So Credit Score will not be impacted.

✅ Do I need to share consent to avail moratorium benefits?

If you are eligible for Moratorium benefit, you will receive an SMS from Citi Bank. Besides, if you have failed to pay minimum due amount for March or miss a minimum payment for April, you will automatically receive moratorium benefits. However, to be applicable for the deferment of payment, your account should be active.

✅ Will EMIs be billed into my credit card statement?

No. EMIs due for April, May, June, July and Aug will not be billed for customers opting for a moratorium. The EMI will be billed from September 2020 and effectuate extension of tenure for exact months. The interest will be levied for the moratorium period.

✅ Will I continue to get my credit card statements?

Yes, your Citi Credit Card statements will continue to generate as per the billing cycle. You will receive regular notifications as well.

✅ Will interest rate change due to moratorium benefit?

No. The existing interest rates will continue to apply.

✅ How to stop auto-debit from my Savings Account during the moratorium period?

Use Citibank Online / Citi Mobile App to disable the standing instruction. You can also write at

In case SI is already made, you can reach out to the bank for a refund.

✅ Should I make some payment for my card during COVID 19 moratorium?

The bank has offered you option to delay payments for 6 months. However, the interest would keep accumulating on the unpaid amount. If you make some payment, it will reduce the interest cost for you. So, continue paying as per your capacity.

✅ I have been charged for late payment in March. Can I get a refund?

The late payment fees charged in March 2020 statement will not be reversed as it is levied on your previous outstanding balance, i.e., much before the announced moratorium.

✅ Will get a refund for March EMI?

No, you will not get a refund for the March EMI. However, you can choose not to pay any amount for April, May, June, July and Aug 2020 to avail of the complete deferment of the card balance.

For EMIs deducted after opting for Moratorium, write to the bank at and

mention (a) Refund of the payment  or (b) Refund of payment & cancellation

✅ What is the process for getting the moratorium benefit for Home Loan?

Write to Citibank at to avail the moratorium on your Home Loan. However, the bank will continue presenting SI as scheduled. But if the EMI mandate fails, the bank will not charge any fees and it will not impact the credit rating.

✅ How do I not opt for COVID 19 Moratorium relief?

No action is required. The Bank will present the EMI mandate. You should ensure enough balance in your repayment account before the mandate date.

Will delinquent/ in default/ overdue accounts on or before March 1, 2020 eligible for Moratorium?

No. Loan delinquent accounts as of March 01, 2020 will be eligible, e.g. 30 DPD (Days Past Due), Settlements, Rewrites, Extensions, Re-ages, etc.

✅ Can I contact Citi bank for my moratorium related queries?

With regards to moratorium related queries write to from registered mail id.

Mention ‘’Personal Loan < last 4 digits of loan number >” in the subject line

You should also specify: a) No EMI presentations in Aug 2020 or b) No EMI presentations in Aug 2020 and refund of July 2020 EMI payment (if already cleared).

✅ What minimum due has already been debited in April 2020?

You can request a refund by writing at

✅ How do I get a moratorium on interest?

The Citi Bank will continue to auto-debit the applicable interest from your linked bank account. However, if you need a refund for the amount paid as interest, you can communicate with the bank about the same. But the refunded interest will now become payable post moratorium.

✅ Do I qualify as my ready credit account is under a work out plan?

The bank will continue to auto debit the dues. However, there are no additional charges for non-payment during the Moratorium period. For refunds, you need to write to the bank. Note that interest and instalment refunded will become payable after the expiry of the moratorium.