Indiabulls Housing Finance has announced a series of relief measures for its customers and employees based in flood-ravaged Kerala.

Firstly, there will be a waiver of penalty fees for delay in payment of August and September EMIs for its flood-impacted home loan customers.

Processing fee is being waived for home-improvement loans to customers whose homes have been affected. A special team has been set up to fast track loan sanction and disbursal for all customers whose property have been impacted.

The interest rate hike for Kerala-based customers has been postponed by two months. The hike, which is applicable for all customers post the increase in repo rate, has been deferred specifically for the State-based customers. The new increased interest rates will be applicable from October 2018. Customers can call on toll-free number 1800 200 7777 for any query. In addition, the Indiabulls Housing Finance family is also conducting an employee contribution drive to support the relief operations.

Relief and assistance

The company has urged its employees to voluntarily contribute one day’s salary (or more for senior employees) for the cause. It will contribute an equivalent sum of money amounting to the total that has been collected from employees, and will direct the contribution for the well-being of the affected people.

A portion of this contribution will also be used towards the welfare of the company’s Kerala-based employees and their families who have been affected. The company has also declared up to 14 days paid leaves for these employees.

ICICI Bank is contributing ₹10 crore to aid the State government and the local authorities in their efforts to provide relief and assistance in the flood-affected regions.

A majority of the contribution will be extended to the Chief Minister’s Distress Relief Fund. The bank will also contribute to the district collectors’ efforts in all the 14 districts to help supply essential commodities like clothes, food items, medicines, sanitation and hygiene products.

In addition, it has announced a slew of measures to help the flood-hit customers of the State. It will waive off penalties on late payment of EMI for all retail loans — home, car and personal —- for customers in Kerala in the month of August.

Also, there will be no penalty for late payment of credit card dues as well as no cheque -bouncing charges for customers in the State this month.

Anup Bagchi, Executive Director, ICICI Bank said: “Our thoughts and prayers are with the people of Kerala in these difficult times. Our hearts go out to those who have been displaced from their homes due to this natural calamity.”

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