bajaj finance said it will waive 50 per cent of the emi bounce and other overdue charges between march and august and waive off the remaining 50 per cent as well if a customer remits the equatedmonthly instalment emi for september october and november by due date mumbai nonbank lender bajaj finance will waive emi bounce charges for the coronavirus pandemic period from march to september for its auto loan customers in maharashtra the decision was made after an intervention by the maharashtra navnirman senas mns auto wing this week about the levy of the charges even when moratorium was on advt the reserve bank of india had given a moratorium on all loan repayments between march and august and asked lenders not to tag any account as non performing for the nonpayment typically a borrower gives postdated cheques or issues autodebit instructions which when not executed may lead to the bounce charges in a letter written on wednesday bajaj finance said it will waive 50 per cent of the emi bounce and other overdue charges between march and august and waive off the remaining 50 per cent as well if a customer remits the equatedmonthly instalment emi for september october and november by due date the letter which was seen by mentioned that the move will benefit 119 lakh customers in total and added that the charges were being levied as per agreed loan conditions mns general secretary kirtikumar shinde pegged the cumulative benefit to borrowers at rs 38 crore47 crore as a result of the move as each borrower will save between rs 3200 and rs 4000 the pandemicled lockdown had impacted the income of these auto owners over the past five months and were under stress due to demands made by the nonbanking finance company to recover the monthly instalments shinde said when contacted officials at bajaj finance declined to comment on the development advt the letter termed this as a onetime gesture for the customers who have availed moratorium after the request from mns pti published on sep 10 2020 at 0721 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app auto loans emi waivers bajaj finance loan moratorium loan repayments homenewsauto financebajaj finance waives emi bounce charges for auto loan customers in maharashtra