Is grant of moratorium a form of restructuring of loans?

Is grant of moratorium a form of restructuring of loans? The moratorium/deferment will be provided particularly to enable the borrowers to tide within the fallout that is economic COVID-19. Ergo, the exact same won’t be addressed as improvement in conditions and terms of loan agreements as a result of monetary trouble for the borrowers. Exactly what will function as effect on the mortgage tenure and also the EMI because of the moratorium? Efficiently, it might total expansion of tenure. For instance, if a phrase loan ended up being provided for a time period of 3 years online installment loans Indiana on first Jan 2020, and also the lender grants a couple of months’ moratorium, the tenure efficiently appears extended by three months – so that it becomes 39 months exactly how. […]