RBL Bank’s COVID 19 Moratorium: No New Purchases for Cards that Opt-in; Same EMIs September Onwards for Loans

01 Jun 2020 // 25 min read // #mmm news
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RBL Bank has shared detailed terms and conditions to abide by RBI’s directive to allow a three-month moratorium or deferment of EMIs and interest payment to its term loans and credit card customers. The loan moratorium is allowed up till Aug 31, 2020, for customers that are affected by the economic disruptions caused by COVID 19 pandemic.

The 3 Month Moratorium is offered on the following products:

  • Credit Cards
  • Retail Term Loans/facilities
  • Agri Based Loans / KCC / facilities
  • Financial Inclusion Business
  • Corporate Clients

To avail the instalment deferment benefit, the customer should have a clear account, without any delinquencies outstanding before 1 March 2020. To opt for Moratorium, the customer can either write an email and share the detail of the loan account or opt-in directly by filling an online form.

The EMIs of Loan accounts would remain the same, and the tenure would be adjusted based on the accumulated interest during the Moratorium period. The Credit Cards will be restricted for new transactions.

You can send email to: covid19mor@rblbank.com

Opt in by sending sms as:  MOR<space><Last 4 digits of loan a/c no> to 5607011 from registered mobile number

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Also Read : RBL Bank Extends EMI Moratorium for Credit Card & Retail Loan Customers


✅ What is COVID 19 regulatory package by RBL?

Owing to the spread of COVID 19 pandemic and financial hassles thereof, RBI has allowed all Indian banks to grant a temporary moratorium (loan holiday) to the retail Term Loan, Agri Loan, and working capital credit line customers. Under this relief package, the borrowers can defer payment of EMIs and interest for 6 months, i.e., from March 1, 2020, to Aug 31, 2020. In lines with RBI’s guidelines, RBL Bank has offered its customers an option to avail of the benefits of Loan Moratorium. The interested customers can request the bank for the same.

✅ What are the eligibility criteria for RBL COVID 19 Moratorium?

To avail RBL COVID 19 Moratorium relief:

  1. The customer should have no dues prior to March 1, 2020
  2. The cash flows have got impacted on account of the COVID 19 issue.

✅ On which products, RBL is offering moratorium benefit?

RBL Bank is offering Moratorium on the following products:

  • Retail Term Loans like Personal Loan, Home Loan, Car Loan, etc
  • Agri Based Loans/ facilities
  • Financial Inclusion Business & Corporate Clients
  • Overdraft (OD) facility
  • Credit Cards
  • Kisan Credit Cards (KCC)

However, to avail of the repayment break, you need to request by filing an online form or sending in an email.

✅ How to avail of RBI COVID 19 moratorium benefit?

There are two ways to opt for RBL COVID 19 moratorium. You can either send a request at the following links:

For loans: https://www.rblbank.com/covid19mor

For Credit Cards: https://www.rblbank.com/cc-covid19mor

or send an email from your registered email id to covid19mor@rblbank.com. The email option is only for loans and credit facilities. Don’t forget to include your Account Number, Account Name, and Registered Mobile number in your request.

✅ Do I need to make multiple requests for a moratorium on multiple accounts?

Yes, if you are requesting through the online channel, i.e., by filling a form on the website, you need to make a separate request for each account. In case, you are requesting though an email, mention all account details alongside with account details.

✅ How will the bank adjust my EMIs/ Card Balance?

If you opt for a moratorium, your next repayment due will be in Sep 2020. During the Moratorium, the interest will continue to accrue on the unpaid loan/ credit card balance. The bank will share the new repayment schedule/ card statement, and you need to make payment accordingly. The accrued interest will be added to the unpaid loan/ card balance to assess total dues. For loans, the tenure will be extended, and the cost of EMIs will not change.

✅ In case of limits, will I be charged interest for the utilized amount?

During Moratorium, the monthly interest will not be billed for working capital limit & dropdown overdraft facility. This repayment break is extended until Aug 31, 2020. However, the interest will accumulate and will be charged in the account on Sep 30, 2020.

✅ How will my working capital account with limit expiry/drop during the moratorium deadline be adjusted?

In this case, expiry/drop will be relaxed until August 31, 2020.

✅ Can I get a refund if I had already paid EMI for March 2020?


✅ Can I pay despite EMI opting for Moratorium?

Yes. It will be treated as a prepayment of the loan, and no charge will be levied.

✅ Will RBL Bank change my EMI amount after moratorium?

No. EMI will not change after the Moratorium period.

✅ Will my credit rating/CIBIL score change if I avail COVID 19 moratorium?


✅ Can I opt for a moratorium if I have an overdue/ delinquent account/account in default before March 01, 2020?

To avail moratorium benefit, you need to clear the overdues.

✅ Is the Moratorium facility compulsory?

No. Moratorium facility is entirely optional. Opt only if you have cash flow issues dues to the Covid19 lockdown.

✅ Can I use my Card during the Moratorium period?

No, card accounts that opt for Moratorium are not open for new purchases as per the bank’s internal risk policy. 

✅ Can I opt-out of Moratorium for my Card?

Yes. In order to opt-out of the moratorium, send an SMS OPTOUT to 5607011 from the registered mobile number. To activate the Card for new purchases, you need to clear dues as per the last statement. The request will be applicable to all accounts linked to this number.

You can make payment by clicking:


✅ Do I need to switch off Standing Instructions?

No. If you have opted for Moratorium, you need not switch off SI.

✅ What happens to EMIs on my Credit Cards after Moratorium?

The EMIs will be deferred until August 31, 2020. The EMIs will be billed in June Statement along with accumulated interest during the Moratorium period.

✅ What happens to cash withdrawal and loan transfer facilities on my Card?

After opting for Moratorium, Cash withdrawal and loan withdrawal facilities are also withdrawn temporarily.