Deferment is an option provided to those customers whos salaries or cash flows are affected due to the current Economic Situation & COVID-19.
We would sincerely advise our customers to make use of this option diligently, as it may result in an increase in total interest paid during the tenure of the loan.
The Deferment option will be beneficial for companies whos receivables are delayed, as it offers them time to manage their cash flows and recover faster from the difficult situation, which we all are in. There will be additional interest to be paid on the loan which such companies should understand clearly.
We wish to advise our salaried customers, who are getting regular salaries, not to opt for deferment as it may not be beneficial for them in the long run, as they will have to pay additional interest on account of deferment.
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