COVID 19 Relief Measures

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COVID-19 Relief Measures

a) COVID-19 Relief Measure

i) Term Loans: In terms of RBI COVID 19 regulatory package, SBI has initiated steps to defer the instalments and interest/EMIs on Term Loans falling due between 01.03.2020 to 31.05.2020. Accordingly, the total repayment period will be extended by 3 months over the original repayment period.

ii) Working Capital: In respect of working capital facilities sanctioned in the form of Cash Credit/OD, interest applied during the period 01.03.2020 to 31.05.2020 shall be deferred and interest accumulated for the period shall be paid/recovered after the expiry of deferment period along with the monthly interest for June 2020.

b) Options for Customer:

S. No. Particular Course of Action
1 Customer who do not want to defer recovery of instalments No action is required. They may continue to pay in usual course.
2 Customers who want refund of the instalment/EMI for March 2020 already recovered/ paid in March 2020 Please submit an Application (Annexure-I) through an email* to e-mail ID of the Branch (sbi.XXXXX@sbi.co.in)#.
3 Customer who wants to defer recovery of instalments for the month of April and May 2020
  • NACH – Where collections of such instalment / EMI is effected through National Automated Clearing House (NACH), please submit an Application (Annexure-I) through an e-mail* to e-mail ID of the Branch (sbi.XXXXX@sbi.co.in)#.
  • Standing Instructions (SI) – Please submit an Application (Annexure-I) through an email* to the e-mail ID of the Branch (sbi.XXXXX@sbi.co.in)#.

# insert Branch code in XXXXX. Examples of Standard format of email ids of SBI Branch is as under:

S. No. If Branch Code is of Then Branch e-mail id will be
i 1 digit (e.g.- 1) sbi.00001@sbi.co.in
ii 2 digit (e.g.- 12) sbi.00012@sbi.co.in
iii 3 digit (e.g.- 123) sbi.00123@sbi.co.in
iv 4 digit (e.g. -1234)) sbi.01234@sbi.co.in
v 5 digit (e.g.- 12345) sbi.12345@sbi.co.in

* If you are unable to send through e-mail, handwritten application can also be submitted in the same format to the home branch.

Effecting deferment of EMI/ NACH/ Refund may take approximately 7 working days. Please bear with us. Thanks for your cooperation

Impact of Deferment: To enable you to take an informed decision, we advise that interest shall continue to accrue on the outstanding portion of the Term Loan during the moratorium period, the impact of deferment will be increase in instalment amount/ repayment period.

 

c) Formats:

 

Annexure - I Deferment of Recovery of Instalment/EMI through NACH/SI
Annexure - II FAQs for Term loan Customers

COVID-19 related Credit Schemes


Dedicated Circle-wise Helpline no. and email ids for Credit Schemes


Last Updated On : Thursday, 23-04-2020

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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