Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Moratorium EMI Calculator

You can use our free online moratorium EMI Calculator below to accurately estimate the impact on your loan if you opt for the moratorium.

0% %
Months Months

Your Monthly EMI amount is

As per your choice, your monthly EMI amount will remains the same

No. of EMIs Post Moratorium Period


This is the no. of EMIs to be paid after if you avail the moratorium for the selected period between Mar - Aug, 2020

Overall Loan Tenure is Months

This is the your overall loan tenure if you avail the moratorium for the selected period between Mar - Aug, 2020 excluding the moratorium period

Increase in the Interest Payable is


This is the the increase in the total interest payable over the loan tenure if you avail the moratorium as selected

Disclaimer:The above moratorium EMI calculator is applicable across all products eligible for moratorium. Please note that these values are for demonstration purposes only, and the actual values may vary slightly. The moratorium will only be granted after you apply for a moratorium and the subsequent consideration, evaluation and verification of your request at the sole discretion of SMFG India Credit. Please view the moratorium policy for more details.

How to use moratorium EMI Calculator?

To understand how opting for a moratorium could affect your loan, please use the calculator as per the steps below.

  1. Enter your loan amount. This amount equals the loan amount that was sanctioned to you at the beginning of the loan.
  2. Enter the Rate of Interest. This is the same rate of interest which is currently being applied to your loan.
  3. Enter your loan tenure. This refers to the overall tenure as per the existing schedule.
  4. Enter the number of EMIs you had paid before Mar, 2020.
  5. Enter the number of months for which you had taken a moratorium between Mar – May, 2020. This can be 0, 1, 2 or 3 months.
  6. Enter the number of months for which you wish to take a moratorium between Jun - Aug, 2020. This can be 0, 1, 2 or 3 months.
  7. On the right hand side, please select an option from the drop down list. If you want to keep your EMI amount the same as per the original loan agreement, please select "No change in monthly EMI amount" from the dropdown. If you want to keep your tenure the same as per the original schedule, please select "No change in loan tenure".
  8. Depending on your choice, your monthly EMI, loan tenure and no. of EMIs post moratorium period will be displayed.


  1. If you choose to keep your monthly EMI amount the same, your loan tenure will increase. Similarly, if you choose to keep your loan tenure the same, your monthly EMI amount will increase. If you wish to change both EMI and tenure, please contact your nearest branch or call us today.
  2. This calculator will not be applicable if the terms of your loan (interest rate, tenure, etc.) had been readjusted prior to the moratorium period.
  3. This calculator has been provided to help you understand the effect of availing the moratorium facility and plan your finances accordingly.
  4. If you wish to avail the facility to defer your EMI payments between Jun – Aug, 2020; you may do so by applying on our website one month at a time. Please scroll below to read more on how to apply for a moratorium.


How to Apply for a Moratorium at SMFG India Credit?

The RBI had granted the EMI moratorium between Mar – Aug, 2020. This period is now over, and hence you cannot apply for an EMI moratorium at this time. For any queries or issues, please contact us.

Moratorium Eligibility

To apply for a moratorium, the following eligibility criteria have to be satisfied.

  1. You must be a current customer of SMFG India Credit having outstanding loans as of Mar 01, 2020.
  2. Salaried/self-employed, Individual and non-individual borrowers (including Ltd companies, Partnerships & Proprietorships etc.) may apply
  3. The moratorium is applicable for customers of all kinds of SMFG India Credit loans.
  4. Your account can be Standard or otherwise and must not have been written-off from the books of SMFG India Credit books at end of the month preceding the month in which moratorium/deferment is requested for
  5. You must submit consent for terms and conditions governing the moratorium and for the revised repayment schedule.
  6. Your dues upto the previous month should be fully paid. For instance, if you want to avail the moratorium for June 2020, then all your payments (EMIs as well as any other charges) as of May 31, 2020 should be complete. Alternatively, your moratorium request for Mar – May, 2020 should have been approved.

RBI Moratorium

In light of the lockdown to check the spread of COVID – 19 virus, as you are aware, the RBI had declared a moratorium for all borrowers (individual and non-individual) of 3 months initially. As per the circular on May 22, 2020; this facility has been further extended for another 3 months till Aug 31, 2020.

At SMFG India Credit, we sincerely hope that you and your family are healthy and are following the safety precautions as instructed by the authorities. However, we also understand that the nation-wide lockdown rules may have caused quite a few challenges - socially and financially.

SMFG India Credit is wholly committed to ensuring that all our customers utilise this time to focus on the well-being of themselves as well as their families. In order to make this happen, we are extending the option of taking a moratorium on your SMFG India Credit term loan. However, please note that this facility should only be availed by borrowers who are under financial stress. If you can pay your EMIs as per the original schedule, we strongly encourage you to do so and not avail the moratorium facility, as the interest would continue to get accrued during the moratorium period, thereby increasing the overall interest payable on your loan.

The RBI moratorium ended on Aug 31, 2020. From Sep 01, 2020 borrowers will have to start repaying their loans as per the latest schedule provided. As of now, there has been no further announcement on any extension of this facility.

Interested in Personal Loan Balance Transfer?

If you are currently not a customer of SMFG India Credit and want to transfer your outstanding Personal Loan from your current lender to SMFG India Credit, then check out benefits of personal loan balance transfer. Alternatively you can use our personal loan balance transfer calculator to calculate the savings on your EMI as well as interest payable.

If you are an existing customer of SMFG India Credit, learn about our top-up loan facility.


I need clarity on the moratorium calculation. Is there a calculator available?

Yes, please scroll up to view our moratorium EMI calculator to understand the possible effect of taking a moratorium on your loan.

I had applied for moratorium for 3 months, however my tenure has been increased to 6 months. Why?

During the moratorium months, interest continued to get accrued on the principal outstanding. Your revised tenure is calculated based on the revised principal, keeping the EMI same. Therefore, tenure has increased by more than 3 months.

Due to moratorium, both my EMI and Tenure has increased. What is the reason?

As clarified above, interest continued to accrue during the months when moratorium had been taken. This increased your overall principal outstanding. Keeping monthly EMI amount the same, tenure would increase. However, as per our internal policy, for a certain product, the maximum tenure can only be for a certain number of months. For example, for personal loans, tenure cannot exceed 60 months.

If the moratorium effect cannot be adjusted within this limit in terms of tenure, then it will be passed on to the EMI as well. Hence, there may be an increase in both tenure and EMI in some cases.

Is there an option for moratorium reversal?

Moratorium application is accepted based on the borrower’s consent we receive. If a borrower has already applied for a moratorium, which had been granted after he had provided his consent for the same, then the effect would have already been passed on to the respective loan account. Thus, after this point, a reversal of the moratorium wouldn’t be possible.

I have paid 3 months EMI towards moratorium reversal, but the moratorium hasn’t been reversed yet. Why has this happened?

Once the moratorium has been applied to a borrower’s loan account, it cannot be reversed. However, any amount paid later will be adjusted towards the principal outstanding, and its effect will be passed on to the tenure.

I had applied for a moratorium of 3 months. Later, I paid the EMI for 3 months. Still, my loan has not been rescheduled as it was before moratorium. What is the reason for this?

The EMI amount paid is adjusted towards principal outstanding. Since you had applied for moratorium, interest on the principal outstanding during the moratorium period gets accrued and a new repayment schedule is drawn. Now, since you have made the payment of 3 EMIs, the same will be credited towards principal outstanding and accordingly, the effect will be passed on the tenure. However, please note that once a moratorium request has been accepted and processed, it cannot be reversed.

I need clarification related to moratorium. Where I can place the Query?

Please click here for any further clarifications pertaining to moratorium.

What does opting for a moratorium mean?

If you opt for a moratorium, you will not have to make your usual EMI payments for the selected period. So if your EMI date was Jun 30, 2020 and you opt for a moratorium of 1 month, your next EMI payment date would now be Jul 30, 2020.

NOTE: As per our policy, if you wish to defer your EMIs between June – Aug, 2020; you may do so only one month at a time.

Who is eligible for a moratorium?

For customers of SMFG India Credit, the moratorium can be availed by all customers who have outstanding EMIs after Mar 01, 2020. Thus, you may be salaried, self – employed, or a business owner – and the moratorium will be applicable to you. The moratorium is also applicable for business entities including proprietorships, Ltd. companies, partnerships, etc.

Will the moratorium be applied automatically?

No. In order to avail the moratorium, you will need to submit a request for the same. You will be granted the moratorium only after your request has been approved. ECS/ collections for customers who have not submitted a request and/or whose request has not been approved will continue as per schedule, and non-payment of EMIs in such a case will be taken as a default.

If I opt for the moratorium, will I have to pay the remaining instalments within the existing tenure?

If you opt for a moratorium, your next EMI date will get deferred. Your tenure will get extended by the number of months of moratorium you take. Thus, if your loan was supposed to mature on Dec 01, 2020 and you now opt for a moratorium for 1 month, your loan maturity date will now be after Jan 01, 2021, depending on how your loan tenure will change due to accrued interest.

What types of products does the moratorium cover?

At SMFG India Credit, we are extending the moratorium across all products of SMFG India Credit and SMFG Grihashakti.

How can I apply for a moratorium?

To apply for the moratorium, please click here to submit a request. Your application will then be reviewed and moratorium may be granted depending on our evaluation and verification of the same.

Do I have to opt for the moratorium?

No. You can choose to continue paying your EMIs as per the agreed upon schedule. For making your payment online, please visit https://payment.smfgindiacredit.com

If I opt for a moratorium, will I have to pay extra charges?

There are no extra charges for availing the moratorium, however interest at the existing rate will be continue to be charged on the outstanding principal amount for the moratorium period, which will keep getting accrued.

Thus, if you had taken a loan of INR 500,000 for a period of 36 months, your monthly EMI amount would be INR 17,089. Let’s assume that the starting date was Mar 01, 2020 and the actual maturity date was Feb 01, 2023.

Now, if you have opted for a moratorium of 3 months, an additional INR 17,705 will be added to your principal outstanding. Thus, when your EMI repayments resume, your monthly EMI amount will continue to be INR 17,089. However, you will need to pay 1 more EMI in addition to the ones that were deferred to cover up the accrued interest charges, which means that your loan will now mature on Jun 01, 2023.

Alternatively, if you would like to keep the loan tenure the same, you will have to pay a revised EMI of INR 17,694 every month for the rest of the tenure.

Will opting for the moratorium impact my CIBIL score?

No. If you choose to defer your EMI payments by opting for the RBI extended moratorium; then your CIBIL score will not get impacted. However, if you don’t pay your EMIs as per the revised schedule after the moratorium period, your credit bureau record will be impacted. Hence, we advise you to make a note of the revised schedule once you receive the same, and pay your EMIs on time. Please also note that you will need to apply for the moratorium to avail the facility. If you don’t submit a request, we will consider that you are choosing to pay your EMIs as per the original schedule. Any late payment / failure to pay the EMI in such a case will attract bounce / penal charges.

What is the difference between this RBI Moratorium and EMI Holiday?

Technically, this RBI moratorium acts like an EMI Holiday in that it allows you to defer your EMI payments for the specified period. However, unlike an EMI Holiday, the RBI moratorium is applicable to all loan products. Also, the RBI moratorium is a special facility which has been extended by the Reserve Bank of India to all Indian borrowers during this period to help the nation cope with their financials in the face of the COVID-19 threat and challenges due to the lockdown.

Is the moratorium like a waiver of my EMIs?

No. The moratorium is a special facility to defer EMI payments. However, you will still need to pay the revised EMI amount post the moratorium period.

Do I have to pay anything during the moratorium period?

No. If you submit a request to avail the RBI moratorium for a specified period, which gets accepted, then you will not have to pay anything for that period. You will be given a new schedule with revised EMI and/or tenure, and your next payment will be as per the due date mentioned in the same.

I have taken a SMFG India Credit SME Loan. Can I avail the moratorium?

Yes. The facility is available to all SMFG India Credit customers who apply for it, and includes customers of all our products. However, the moratorium will be granted based on evaluation and verification of the request and at the sole discretion of SMFG India Credit.

Should I opt for the moratorium?

The moratorium is one of the tools extended to customers to help you tide over the challenges posed by the nationwide lockdown and the threat of the novel coronavirus. Here are a few things you may consider before you make your decision:

  • Your Net Monthly Income – if this amount is going to be impacted as a result of the current situation, opting for the moratorium could relieve you of some of the financial stress
  • Your monthly expenses – Have a good look at your budget for the next few months. Try to check if you can do away with some of the expenses which could help you repay your monthly obligations even in the face of a reduced monthly income.

On the other hand, if your net monthly income is not going to reduce to the extent of causing financial distress, it may be wiser to continue paying your EMIs as per the schedule and avoid the extra charges on accrued interest.

My loan is not fully disbursed, can I avail moratorium?

Yes, the moratorium scheme is available for all eligible customers, including those whose loans are not fully disbursed.

I am currently paying pre EMI. Will I be eligible for the moratorium?

Yes, the moratorium scheme will be available for eligible customers who are currently paying pre-EMI, However the interest should be paid back or will be deducted before the final tranche of disbursal.

I have heard that loans would be waived off. Is this true?

Despite rumours that may be circulating across various media channels, any decision pertaining to your loan is something which can only be taken by your lender. We advise you to contact your lender with regards to any such queries.

I am a rural customer. How can I pay my EMI during lockdown?

Please take note that since no group meetings are allowed during lockdown, collection of repayment will resume only after lockdown is over. During this time, if you want to repay your installments, you can do so online. Please visit our page to complete your EMI payment. We advise you avoid making any cash payments to the loan officer during the lockdown.

I am a rural customer, and I have taken a group loan with some other people. While others in my group want the moratorium, I don’t want it. What do I do?

The moratorium is not compulsory. If you wish to repay, irrespective of your group members choice, you can choose to continue repaying your instalments. Please click here to pay your EMI online.

I have already paid my EMI for this month. Will I get a refund if I apply for the moratorium facility?

If you have already paid your EMI for a particular month via cheque / ECS debit facility, no refund will be issued even if you have applied for a moratorium for the same period. Hence, you are requested to apply for the moratorium facility on time within the specified dates for each month. Typically, you can apply for the moratorium for a particular month within the last 2-3 days of the previous month.

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