Moratorium interest

This query is : Open

Nitesh bind (Querist)
Follow

06 March 2014 Dear Sir,

I have a very urgent query regarding the term "Moratorium Interest".

1. What is the meaning of moratorium interest?
2. When it is charged?
3. What is the difference between Moratorium Interest and Simple Interest?
4. Is it deductible under income tax act?

Please sir help me as soon as possible.
Waiting for the suggestion and explanations.

Thanks in advance...
Nitesh Bind.

Manish Gurudasani

Manish Gurudasani (Expert)
Follow

06 March 2014 Moratorium Period is a holiday on repayment which would be for the course period + 1 year or 6 months after the student gets a job/start earning whichever is earlier. Some banks will also allow you a moratorium on payment of interest. This means that you can defer payments of even the interest...

Manish Gurudasani

Manish Gurudasani (Expert)
Follow

06 March 2014 Interest would have to be paid during the moratorium, the interest servicing would be of simple interest calculated on the loan amount disbursed payable monthly. Some banks will also allow you a moratorium on payment of interest. This means that you can defer payments of even the interest during...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

NISHANT SIPANI

shanmukha sai

Rohit Sachdeva

Angadi & Co

Subscribe Now

Moratorium interest

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

Accountant

GST CONSULTANCY

Article Assistant

Manager- Finance and Compliance