- SBI Loan Moratorium Offer: State Bank of India (SBI Customers), the country’s largest bank, has given a big gift to its loan customers.
- SBI has brought Loan Moratorium Policy according to the instructions of Reserve Bank of India (RBI).
- Under which loan customers can avail Moratorium for up to two years.
know what are the new rules
SBI Loan Moratorium Offer: State Bank of India (SBI Customers), the country’s largest bank, has given a big gift to its loan customers. SBI has brought the Loan Moratorium Policy as per the instructions of the Reserve Bank of India (rbi). Under which loan customers can avail Moratorium for up to two years. This offer is for all types of loan customers. Customers can get their home loan (SBI home loan), retail loan, auto loan etc. reconstructed. SBI has launched a new portal for loan reconstruction, with the help of which you can take advantage of it.
What does the moratorium offer?
In view of the Corona epidemic, SBI has introduced a loan restructuring policy. Under this policy, borrowers can avail loan moratorium for 24 months. Explain that due to corona crisis, people are not able to pay EMI. You do not have to pay EMI on the loan during the moratorium period. However, this does not mean that your EMI installment will be reduced.
Who will get its benefit
SBI has also put certain conditions under the Moratorium Policy. You will get benefits only if you are eligible for this scheme. The bank has launched a portal to retract loans, through which customers can check their eligibility. The bank has said that customers who have given loans before March 1, 2020, and defaulted during lockdown have also not occurred. They can avail of this facility. However, if you take advantage of loan moratorium, then the term of your loan will increase.
How much will be charged?
However, you will also have to pay a charge for availing this plan. You will not have to pay any monthly installment under this plan. But, after the end of this period, you will have to pay 0.35 percent more interest than normal. Regarding this scheme, SBI MD (Retail and Digital Banking) CS Sethi said that customers will be able to know their qualifications through SBI portal. For this, customers will have to give details of their earnings and current income before February 2020.
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