With Chennai reeling under the impact of torrential rains and flooding, ICICI Bank, HDFC Bank and Indiabulls Housing Finance on Saturday said they will not levy any penalty on their customers in the city for delay in equated monthly installments (EMIs) for the month of November.

ICICI Bank, India's largest private sector bank, and HDFC Bank, India's second largest private sector bank, also said they will not levy penalty on their customers for delay in credit card payments for November.

Further, ICICI Bank will waive off charges for cheque bounce for November, according to a spokesperson.

Indiabulls Housing Finance, in a statement said, it will waive off the processing fee for home improvement loans to customers whose homes have been affected by the rains. This benefit will be valid only for all loan applications submitted on or before December 31, 2015.

On Friday, country’s leading mortgage lender announced that it will extend assistance to its home loan customers impacted by rains in Tamil Nadu.

”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 said in a statement.

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.

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