Frequently Asked Questions - EMI Moratorium

Using a car finance EMI calculator is simple. Just provide three key inputs:

• Loan amount
• Interest rate
• Loan tenure

The calculator will then display your monthly EMI. Feel free to experiment with different loan amounts, interest rates, and tenures to find the most suitable option for your budget.

In a moratorium, your EMIs will be deferred. This means that during the moratorium period, no payment has to be made by the customer to MMFSL. Interest on the EMIs will keep accruing for the customer during this period and will be payable after the moratorium period with the deferred instalments.

In the 2^nd round of moratorium, all instalments falling due in June, July and August will also be deferred by 3 months. So in total, moratorium covers 6 months period, i.e., from 1st March to 31st August, 2020.

All eligible customers will be contacted by Mahindra Finance by way of text message (SMS) on their registered mobile number. As per policy, loans approved till 31st March, 2020 with due dates falling in the moratorium period are eligible. In case of clarification, please contact Mahindra Finance representative.

No, a moratorium is not waiver of EMIs. Customers will need to pay the entire principal with interest back to MMFSL. Customers just have the option of not paying during the moratorium period.

During this difficult period, cash flows of some customers have been affected and they might not have enough capital available to pay their EMIs. Such customers should avail this moratorium. If a customer has sufficient cash flow to meet his needs and service the EMIs also, should pay his EMI regularly to avoid the accruing interest charges.

Yes, interest will be charged at the contractual interest rate on outstanding amount.