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What is meant by moratorium?

Moratorium is temporary postponement of payment of interest/ principal/ instalments (and is not a waiver) for the period from Mar 01 to May 31, 2020. Interest will be payable on all amount(s) for which payment is being postponed pursuant to the Moratorium.


Is moratorium compulsory or optional?

The moratorium is optional for all customers who have availed loan from Toyota Financial Services India Ltd (TFSIN).


Will the loan tenure increase?

Yes, the loan tenure will get extended by the corresponding period for which the moratorium has been availed.

For example, if the EMI for the month of Mar’2020 has been paid and moratorium for April & May’2020 has been availed, then the loan tenure will be extended by 2 months


Is Toyota Financial Services India Ltd (TFSIN) giving moratorium to all the customers?

TFSIN is offering moratorium to its customers with consistent loan repayment track record. To become eligible for moratorium, customers should have no more than 3 EMI’s due in any of their loans as on February 29, 2020.


For which month EMI can I request a moratorium?

Customers can request moratorium for unpaid EMI’s that are due in month of March, April and May 2020.


Will Interest be charged on outstanding loan amount for moratorium period?

Yes, Interest will be charged at contracted rate on loan outstanding during moratorium period and same will become part of loan outstanding at the end of moratorium. Total resulting interest accrued during remaining loan tenure will be added to last EMI.


Loan amount INR10 Lakhs. Term: 48 months (EMI Term: 10 February 2019 TO 10 January 2023). Regular EMI: INR 25,363/- Term completed: 13 months. Balance Term: 35 months If opting for 3 months Moratorium i.e. Mar-20, Apr-20 & May-20 EMI; last EMI will be due on 10th-April-2023. The additional interest would be about INR 25,859/- and the resultant last EMI will be INR 51,222/- (Regular EMI INR 25,363/- plus recoverable interest INR 25,859/-)


If I do not want the EMI moratorium, what should I do?

If you do not want the EMI moratorium, no further action is required from your side. We will continue to bank your repayment instructions.

We encourage customers with adequate funds to continue paying during this period to avoid the extra interest charges and tenor extension.


Will the moratorium be applicable in case of new loans disbursed up to 1st March 2020 during the lockdown period?

New loans disbursed after 1st March 2020 will not be eligible for moratorium. Nonpayment of EMI’s for loans disbursed after 1st Mar 2020 will lead to tagging of loans as overdue and delinquent and will be reported to credit bureaus as well.


When can I place a request for Moratorium?

You need to place a request for moratorium till May 07, 2020. In the event, if your loan EMI has been debited, requests for moratorium should reach us no later than 5 days of date of EMI debit from your bank account. Refund of such EMI/swill be processed in 10 working days from the date of receipt of such requests.


Will I be communicated if my request for moratorium has been accepted?

Post receipt of your request, we shall communicate if your request has been accepted and inform you the applicable interest along with all terms & conditions applicable for the moratorium


Will I be given moratorium for all my active loans with TFSIN and will I need to give separate request for all loans?

You will be offered moratorium for all active loans with TFSIN based on your consistent past repayment of EMIs subject to not more than 3 overdue EMIs in any of your loans with TFSIN. You need to give one single request by mentioning all loan accounts to avail moratorium for all your active loans. You must provide details of your loan account numbers and confirmation that you are ready to bear the applicable interest for the period of moratorium


How will the treatment of my loan be after the moratorium period?

Your loan tenor will increase as interest will be added to the interest payable and principal outstanding for the time period of moratorium. You shall be communicated on the interest applicable for your moratorium request and your revised re-payment schedule will be sent across to you.


Will I be required to submit any documents, fresh additional NACH debit mandate?

The borrower as prescribed by the company may need to furnish fresh NACH debit mandate


Will my EMIs get debited from my bank account during the moratorium period?

For all loans which have been offered moratorium, we shall be putting the EMIs on hold, subject to the receipt of moratorium request prior to EMI banking date(s) & acceptance of your moratorium request. Refunds, if any applicable will be processed as explained above.


Will bounce charges be levied for EMI’s of the moratorium period?

Not applicable for the EMI months for which customer has opted for moratorium.


Will late payment penalty be levied for EMI months of the moratorium period?

Not applicable for the EMI months for which moratorium has been offered.


Will my Credit Bureau records be impacted if I apply for Moratorium?

If you are eligible and availed the moratorium, your credit bureau records will not be impacted during the moratorium period. This does not apply to any non-payment of EMI’s that would have been reported to the credit bureau prior to 01 Mar 2020 or for loans sanction/availed after 01 Mar 2020. However, the credit bureaus will be communicated that moratorium has been availed.


How can I place request for Moratorium?

  • Submit your request in few clicks here

Note: We request you to keep loan account number handy before starting the process.

Note: Multiple account numbers can be entered separated by ";" (Semicolon)

*If EMI has already been paid for the months TFSIN suggest not to opt for moratorium. This will help you to minimize the additional interest.

Other Options:

  • OPTION 1: Write to us on with your loan account number details
  • OPTION 2: Send an SMS mentioning your 11 Digit Loan Account No in following format “TFS Moratorium XXXXXXXXXXX” to 53030