How to Opt for SBI EMI Moratorium & Also Get March EMI’s Refund?

Updated on: 23 Jan 2024 // 3 min read // #mmm news
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The largest lender of India has announced its step by step process to opt for COVID 19 Moratorium relief to its customers. All SBI customers are eligible to opt for deferment of the EMIs and interest payments on Term Loans & Credit Cards falling due from March 1, 2020, to 31 August 2020. The repayment period will be accordingly extended to the loan tenure. Those who have already paid current EMIs can also apply for a refund.

To cater to its large customer base across the country, the SBI has released Annex-I (Application letter format) & Annexure-II (list of email ids for state/UT).

Best COVID 19 Insurance Plans in India

How to opt for COVID 19 Moratorium Relief for SBI Loans?

The Process:

Customer ProfileAction Required
Customers who do not want to opt for Moratorium/ Deferment on EMIs/ Interest payments
  • No action required
  • Continue regular payments.
Customers who want to opt for Moratorium/ Deferment on EMIs/ Interest payments

Case 1:

For National Automated Clearing House (NACH):

Send application (Annexure-I) along with mandate for NACH Extension to stop NACH to an e-mail (as listed in Annexure-II)

For Standing Instructions (SI):

Send Application (Annexure-I) to email ID (Annexure-II)

A handwritten application in the same format (Annexure 1) can also be submitted to the Home Branch.

Customers who want a refund of instalment/ EMI already paid

Submit an Application (Annexure-I) through to the mail ID (Annexure-II)

A handwritten application in the same format (Annexure 1) can also be submitted to the Home Branch.

The bank will take approximately 7 working days to process communications regarding repayment deferment and refunds.

The interest will continue to accrue on the outstanding amount during the moratorium period.

Impact of SBI Moratorium on your Auto Loans:

  • Loan amount: 6 Lakhs
  • Remaining loan tenure: 54 months
  • Interest that will accumulate during Moratorium:  Rs.19,000 approx. = 1.5 EMIs

Impact of SBI Moratorium on your Home Loans:

  • Loan amount: Rs.30 Lakh
  • Remaining loan tenure: 15 years
  • Additional interest accumulated during moratorium: 2.34 Lakh = 8 EMIs

Sample Application required to Opt for SBI Moratorium


List of SBI Email IDs for Opting for COVID Moratorium Relief

Branches situated in StatesCircle NameEmail ID
  • Gujrat
  • Daman
  • Diu
  • Dadar
  • Nagar Haveli
  • Andhra Pradesh
  • Karnataka
  • Madhya Pradesh
  • Chhattisgarh
  • Orissa
  • Tamilnadu
  • Pudduchery
  • Telangana
  • Rajasthan
  • West Bengal
  • Port Blair
  • Uttar Pradesh (Eastern Part)
  • Maharashtra (other than 
    Mumbai Metro and distt. Pen)
  • Goa
  • Mumbai Metro, Distt. Pen
Mumbai Metrostopemi.lhomum@sbi.co.in
  • Bihar
  • Jharkhand
  • Kerala
  • Assam
  • Meghalaya
  • Mizoram
  • Manipur
  • Nagaland
  • Tripura,
  • Arunachal Pradesh
  • Punjab
  • Himachal Pradesh
  • J&K
  • Ladakh
  • Haryana
  • Chandigarh
  • Gurugram
  • Sonipat
  • Faridabad
  • Palval
  • Delhi
  • Uttarakhand
  • Western Uttar Pradesh, part of Haryana (Districts- Gurugram, Sonipat, Faridabad and 

Benefits of Opting for Moratorium

  1. Your bank will not raise any payment request.
  2. In the face of a liquidity crisis, you can avail of complete deferment of SBI EMIs and interest payments.
  3. The repayment deferment will not affect your credit rating.

FAQs on SBI Loans and SBI Credit Cards

✅ Can I opt for EMI Moratorium Benefit on all my SBI Loans?

Yes, you can get repayment Moratorium on all SBI Loan Accounts.

✅ Is there any additional charge if I opt for EMI moratorium on SBI Loan and SBI Credit Card?

No there is no additional charge if you opt for Moratorium on SBI loans. Also, there is no late payment fee for moratorium on SBI Credit Card.

You can even opt for refund of March Payment. You even do not need to pay the Minimum Statement Balance. However, your outstanding balance on the card will accrue interest. The Card Statement for September will include accumulated interest, card balance, & applicable charges, and GST.

✅ Will there be any impact of Moratorium on my card status?

Your SBI Credit card will have no impact of Moratorium. The status will be the same as on Feb’20.

✅ How do I know if I am eligible for Moratorium?

All SBI Loans and Credit Card accounts with no overdue as of 29 February 2020 are eligible for COVID 19 moratorium. The accounts are auto-enrolled for deferment if no payment is received from March 2020 to Aug 2020. However, all auto payments will be executed as usual, and dishonor of the instructions will reverse the dishonour fee.

✅ Will opting for Moratorium impact my Cibil Score?

No, Moratorium is offered to defer the payment and it is not a waiver of EMI or interest. This will not impact your CIBIL rating.

✅ Will I receive a Credit Card statement during Moratorium?

Yes, it will be sent to you, as usual, stating past dues, new charges like interest accrued during payment deferment, and applicable taxes.

✅ I had missed the March’20 payment. Will I be eligible for Moratorium?

Yes. All accounts in current status (nondelinquent & no overdue) as of 29 Feb 2020 are eligible for the COVID19 Relief Moratorium.