In accordance with the COVID-19 – Regulatory Package notification dated Mar 27, 2020 issued by Reserve Bank of India (“RBI”) and empathising with our customers and standing by them during these troubled times, we are pleased to offer a moratorium on the repayment of loans falling due between March 1, 2020 and May 31, 2020.

While extending support to the customers as per the Covid-19 Regulatory package, Samunnati would approach each customer segment distinctly and the details are given below.

  • Farmer Producer Organisations (FPO)- FPO(AC), FPO (WCTL) and Retail – All customers in these verticals would be offered a moratorium period of up to 3 months (in line with RBI Covid-19 Regulatory Package). All term and working capital loans with unpaid instalments/ interest payments falling due during the period 1st March, 2020 to 31st May 2020 shall be rescheduled with the new repayment dates as per the moratorium policy. The revised amortisation schedule shall be communicated to the customers.
    In instances where a customer doesn’t wish to avail the moratorium benefit in this segment, such customers are requested to send a confirmation stating that they don’t wish to avail the facility by (i) calling us at 9790897909 (ii) e-mail to bpsupport@samunnati.com (iii) contacting your relationship manager, else it will be deemed that borrower / customer has opted for moratorium. In instances where a customer doesn’t wish to avail the moratorium benefit in this segment, the original repayment schedule shall remain in force
  • Agri Enterprises – For all customers in this segment and not covered in clause (1) above, whose loans have instalments or interest payments during the period 1stMarch 2020 till 31st May 2020, Samunnati will extend the moratorium benefit based on customer request (anytime till 31st May 2020 but not with retrospective effect) on a case to case basis based on our assessment of the impact of Covid-19 on the customer’s income and cashflows. Accordingly, all such customers (not covered in clause 1 above) are requested to send in a request for availing the moratorium to bpsupport@samunnati.com with a copy to their respective relationship manager.

All customers who wish to avail moratorium are requested to note that, Interest will continue to be charged on the outstanding loan amount during the period of moratorium as well as the extended tenor of your loan.

The Interest charged to your Loan account during the moratorium period will be recovered from the customer after the moratorium period.

Requests for refund of any payment made by the customer in the month of March 2020 till the date of this policy shall not be entertained by Samunnati.

The rescheduling of payments, including interest, will not be deemed as default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by Samunnati.

For any further clarifications, please feel free to get in touch with your relationship manager or write to us at bpsupport@samunnati.com

FAQs on Moratorium Scheme of Samunnati

a) Which products / borrowers are covered under Samunnati Moratorium Scheme?

All borrowers in Farmer Producer Organisations (FPO) and Retail are offered moratorium. All borrowers in Agri Enterprises and other segments, Samunnati will extend the moratorium benefit based on customer request on a case to case basis based on our assessment of the impact of Covid-19 on the customer’s income and cashflows

b) Does this moratorium scheme cover both Principal and Interest payment?

Yes, the moratorium scheme covers both Principal and Interest payment in case of Term loans.

c) Do I have to pay EMI / Instalments during the moratorium period?

No, you do not have to pay any EMI / Instalments during the moratorium period. There will be Interest charged to your Loan account during the moratorium period which will be recovered after the moratorium period.

d) Does this mean that my EMI / Instalment is waived off?

No, this does not mean that your EMI / Instalment is waived off. This is only a deferment of EMI / Instalment where you are not required to pay EMI / Instalment during the moratorium period. All Interest accrued during the moratorium period will be recovered along with Loan EMI / Instalment after the moratorium period.

e) For what period can I avail the EMI / Instalment moratorium?

You can avail the EMI / Instalments which are falling due between March 1, 2020 to May 31, 2020. Please note if EMI / Instalment is already paid for March 2020, then you can avail moratorium for April and May 2020 instalments only

f) Can I continue to pay my EMIs / Instalments as per normal schedule. Is it mandatory to avail moratorium?

It is not mandatory to avail the moratorium scheme. You can continue to pay the EMI /Instalments/ Interest as per normal process. In case you are able to make normal EMI /Instalments/ Interest in time, it is suggested to continue making the timely payments to reduce your Interest burden and avoid extension of Loan End date.

g) What will be my EMI /Instalment after the moratorium period and will my loan end date change due to moratorium?

As there will be Interest accrued during the moratorium, the new EMI to be paid after the moratorium will depend on your Principal outstanding and no. of EMIs / Instalments already paid. You will be provided with the revised Loan repayment schedule. The Loan End date (Loan Tenor) will increase depending on the no. of months that you have availed for EMI moratorium.

h) Are there any charges applicable for availing moratorium?

No, there are no additional charges applicable to avail moratorium. However, the interest charged in the account during moratorium period has to be borne by the customer.

i) Under what circumstances should I avail the Moratorium?

You may avail the moratorium to help you manage any financial crisis that you may be facing.
In case you are able to make the instalment payments in time, it is suggested to continue making the timely payments to reduce your Interest burden and avoid extension of Loan End date.

j) Will availing moratorium impact my credit history or affect my bureau score?

No, there will be no impact on your credit history. Your account will not be reported as default during the moratorium to Credit Bureau (CICs). This is applicable if all your previous dues are cleared with no interest/ principal overdue.

k) Whom should I contact in case I need any clarifications or support regarding the moratorium?

You may get in touch with your relationship manager. Also, you can contact us as per the following details:
Phone – 9790897909
Mail – bpsupport@samunnati.com