The COVID 19 out break has impacted the cash flows of many people in India. In order to reduce the financial pain of the people RBI has directed the banks to allow moratorium on EMI payments on retail loans like Home Loan, Auto Loan, Personal Loan etc unto a period of 3 months.

Once the moratorium is over, you can either choose to continue to repay the same EMI in which case the repayment period will increase or you can keep the repayment period same and increase the EMI payment.

This COVID 19 India Loan Moratorium Calculator will help you to find the additional interest you have to pay in both cases and the change in the number of months to repay or the EMI. You should take your decision weighing the impact on monthly budget against the additional interest payable.