EMI holiday definition

EMI holiday means a particular month each year during the tenor of the Personal Loan as may be opted by the Borrower for which no EMI is payable by the Borrower and by reason whereof there is increase in Personal Loan tenor subject to certain conditions such as good repayment record or such other conditions as may be determined by the Bank in its sole discretion.
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Examples of EMI holiday in a sentence

  • The Borrower who has opted for an EMI holiday as specified in the Schedule is aware that the same is subject to the discretion of the Bank and its rules in that behalf from time to time.

  • Proposed date when first installment is due EMI holiday The Interest Rate shall be linked to the TBLR, which is determined by adding Government of India 3 – Months Treasury ▇▇▇▇ yield to a markup.

Related to EMI holiday

  • Bank Holiday means any day that is specified or proclaimed as a bank holiday, pursuant to section 1 of the Banking and Financial Dealings Act 1971;

  • Statutory Holiday means New Year’s Day, Family Day, Good Friday, Victoria Day, Canada Day, Civic Holiday, Labour Day, Thanksgiving Day, Christmas Day, and Boxing Day; and

  • Legal Holiday means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of payment are authorized by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

  • General Holiday means every Sunday and any other day which is a

  • Carrier Holiday as herein used means a day on which Carrier’s office is closed for business.