The Interest Waiver Plan: A relief for the time-being.

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The Interest Waiver Plan: A relief for the time-being

Nov 3, 2020

Mr. Rakesh Reddy
Director, Aparna Constructions, For Property Times

The government has decided to waive off the compound interest on outstanding loans from March to August 2020, in light of the ongoing pandemic. The waiver scheme will apply to all outstanding loans up to ₹2 crore for MSMEs, housing, education, automobiles, and credit card dues.

Our Director, Mr Rakesh Reddy says that the waiver will provide much-needed support to all the stakeholders instead of being penalised for payment deferment. The borrowers will see their outstanding amount decrease after the compound interest waiver.

To know more about the scheme and its implications, read the entire article authored by our Director for The Property Times. Click on the following link: