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All term loan EMIs of SBI customers automatically deferred by 3 months

28/03/2020 at 12:17 PM

New Delhi, Mar 28: To provide relief to its customers amid coronavirus lockdown, the State Bank of India (SBI) on Friday announced that all term loan EMIs will be deferred by three months automatically.

Instalments of term loans – home loan, car loan, personal loan will automatically deferred by 3 months and customers don’t have to apply to banks for it, the SBI said.

SBI’s announcement came within hours of RBI’s announcement of a 3-month moratorium on loan EMIs.

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