Once I met a friend after a long period he was looking very troubled we had a coffee and started talking he told me that he lost his job 3 months ago and searching for a new one .He was a good friend to me and I knew that he has taken Personal Loans from two different banks and I was eager to know how he was managing his EMI's and I asked him the same.Then I got a information which no one told me before that if you are unable to pay your EMI's and you have a good repayment record with your bank one can use the option EMI holiday which enables you to skip or postpone EMI's up to 7 months,so that you do not need to struggle to pay your EMI's when you are jobless.The banks charge a small interest to your principle loan amount pending and the postponed EMI's are added to your loan tenure..
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