Banks and HFCs take the high road for Chennai

Banks and HFCs take the high road for Chennai

With torrential downpour creating havoc in Tamil Nadu, private sector banks and home finance companies have decided to be sympathetic towards their customers in EMI payments.

“Torrential downpour has caused havoc and  great difficulty to fellow citizens in Tamil Nadu, especially in Chennai. Understanding the gravity of the situation, HDFC has decided to be sympathetic towards its home loan customers impacted by the rains for delay in EMI payments for the month of November 2015,” HDFC managing director Renu Sud Karnad said.

HDFC has also decided to offer quick home improvement loans to all people whose properties have been impacted by the rains.

“There will be no processing fees on all such loans. This will be valid only for all loan applications submitted  on or before December 31, 2015,  subject to HDFC’s norms and eligibility criteria,” Karnad added.

ICICI Bank has also decided not to levy penalties on delayed EMI and credit card payments.

“ICICI Bank will not levy any penalty for its customers in Chennai for delay in EMI and credit card payments for the month of November. It will also waive off charges for cheque bounce in the same period,” an ICICI Bank spokesperson said.

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