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COVID CARE: Moratorium Policy of Piramal Capital and Housing Finance Limited (PCHFL) for Retail Loans

As you are aware, the RBI vide it’s circular RBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 dated May 23, 2020, (“Regulatory Package”) has permitted financial institutions to extend the moratorium by three months on payment all the instalments falling due between 1st June 2020 and 31st August 2020.

Customers satisfying the following criteria would be eligible to seek for the instalment moratorium:
  • All customers having instalment payments falling due between June 1, 2020 and August 31, 2020.
  • The account can be Standard or otherwise.
  • Customers who have economic fallout from COVID-19.
Wherever customers have opted for the instalment moratorium, interest shall continue to accrue on the outstanding principal of the loan during the moratorium period & the loan account will be re-scheduled by:
  • Increasing the residual loan tenure (up to permissible limit) to collect the deferred instalments which will include the outstanding principal and interest accrued or
  • Increasing the instalment amount with or without any change in the loan tenure for the cases in which monthly interest amount exceeds monthly instalment amount or total tenure exceeds the permissible limit.

Note: if the customer wants to increase its instalment amount instead of loan tenure as mentioned in point A above, they may send an email to PCHFL at from their registered email id quoting their loan account number.

Once a customer approaches PCHFL with a request for the instalment moratorium, he will have to provide the detailed reason for applying for the moratorium which will be evaluated by PCHFL and if satisfied with the merits of the case, instalment moratorium will be considered as per the policy of PCHFL.

Loan accounts provided with the moratorium as mentioned above shall be subject to the subsequent supervisory review with regard to their justifiability on account of the economic fallout from COVID-19.

As per the approved policy of PCHFL and in terms of the aforesaid Regulatory Package, if you intend to avail the moratorium under the said Regulatory Package, please fill in and submit your details on or before 3rd June 2020 to enable us to assess your request.

Please note: All other terms and conditions of the Loan Agreement & Tri-partite agreement, wherever applicable, with PCHFL will be binding and remain unchanged.

Customers are requested to fill the below form to request for the Instalment Moratorium under the Regulatory Package.
Registered mobile number:
Registered email id:
Instalment deferment requested for:
Resend OTP
OTP sent to your registered Mobile No.
*All linked loan account numbers of the afore mentioned loan account number will also be considered for moratorium.
I/We understand that:
  • The loan repayment tenure / the monthly instalment amount of my loan will get revised due to the moratorium.
  • Interest will continue to accrue to my loan account(s) during the period of the moratorium and this could result in increase in the instalment amount/number of loan instalments as per the policy of PCHFL.
  • I/We also authorize you to recover the deferred instalments in future through NACH/Cheque or any other mode of payment.
  • I/We hereby declare & confirm that due to economic fallout (reason as mentioned above) from COVID-19 , I/We have applied for the moratorium,
I/We agree with all the aforementioned terms and conditions of PCHFL in this regard and request you to process my application for the instalment moratorium in the above loan account and all other linked loan accounts.

This is without prejudice to the rights of the PCHFL in terms of the provisions of the Loan Agreement, Tri-Partite agreement and any other security documents and such request is subject to approval of the PCHFL in terms of its approved Policy for the Regulatory Package. Re-schedulement of Instalments / Moratorium of the Instalments does not tantamount to waiver of any amount which is payable under the terms and conditions of Loan Documents.

Please Note: Customer will receive a “confirmation email/ SMS” on their registered email id/ Mobile number once the instalment moratorium request is processed.