Moratorium Support at Finflux (Part 1 of 3)

Finflux Mar 22, 2021

There are several types of Moratorium rules that Finflux can accommodate across loan products.  We have invested in several innovations/development effort in 2020 to help our clients to apply moratorium on their loan portfolio and comply with the regulatory framework in their country.

Types of Moratorium Periods:

S.No

Type

1

Principal Grace Periods 

2

Interest-free period 

3

Interest Grace Periods (Within EMI)

4

Interest Grace Periods (Due in last EMI)

5

Interest Grace Periods (Within EMI And Compound After grace)

6

Interest Grace Periods (Post Interest to the principal)

7

Interest Grace Periods (Post Interest to principal and update EMI Amount)

8

Interest Grace Periods (EMI + Grace period Interest)

9

Enable compounding on grace interest

Principal Grace Periods: It will give the  Grace on the Principle amount of the Respected EMI's. But the Balance of the Principle amount will be moved forward.

Interest free period: It will give the Interest-Free EMI's. it is like a discount on the Interest

Interest Grace Periods (Within EMI): It will start collecting the Interest of the Moratorium when the Moratorium period will be complete.

  • The total interest will be collected first.
  • If the interest amount is more than the EMI amount then the interest will be carry forward.

Interest Grace Periods (Due in last EMI): It will collect all the moratorium Interest in the last EMI

Interest Grace Periods (Within EMI And Compound After grace): It is the same as the "Interest Grace Periods (Within EMI) Option along it will compound the interest after the moratorium period

Interest Grace Periods (EMI + Grace period Interest): It will collect all the  Moratorium interest on the Repayment where the Moratorium period will be Complete.

Interest Grace Periods (Post Interest to principal): It will add the total Moratorium Interest to the Principle amount of the last Moratorium Repayment.

Interest Grace Periods (Post Interest to principal and update EMI Amount): It will add the total Moratorium Interest to the Principle amount of the last Moratorium Repayment and it will update the EMI amount.

Enable compounding on grace interest: It will compound the interest of the Moratorium period Repayments.

  • This is the checkbox option and this can be selected with Interest Grace Periods (Within EMI), Interest Grace Periods (Post Interest to the principal), Interest Grace Periods (Post Interest to the principal and update EMI Amount).

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