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How to apply and check eligibility for loans under SBI restructuring scheme

State Bank of India (SBI) has come out with a Restructuring Policy. SBI on Monday announced the launch of an online portal for smooth and hassle-free implementation of the Restructuring Policy. Under this policy, borrowers have the option of requesting a moratorium of 1-24 months
and extension in loan term. Retail borrowers can check their eligibility instantaneously for loan recasts by providing income details.

Check Eligibility :-

A borrower will be considered as affected by Covid-19 pandemic, if any of the following conditions are fulfilled:

i. Your salary/income in Aug 2020 has got reduced when compared to Feb 2020

ii. Reduction/suspension in salary during lockdown period

iii. Job Loss/closure of business

iv. Closure during lockdown/reduced activity of units/shops/business establishments in case of self-employed/professionals/businessmen

Loans covered :-

The following loans are covered under the Framework:

i. Housing and other related Loans

ii. Education Loans

iii. Auto Loans (other than loans for commercial use)

iv. Personal Loans

Are all the Loans under above categories eligible? 

No. To be eligible under the Framework, the following eligibility conditions need to be fulfilled:

i. Your loan should be a “Standard Account" as on the date of application for relief under this framework and should have been ‘standard’ and also not in default for more than 30 days as on 01.03.2020.

ii. You should have been affected by Covid-19 pandemic and fulfil any of the conditions stated in FAQ No.2 above.

How to apply :-

You will be able to apply online on our website ( The application will be validated by means of an OTP which you will receive on your Mobile Number.

Alternatively, you can also visit the Branch where your account is maintained and submit your application.

Copies of the following documents need to be uploaded (if applying online) or submitted alongwith the application form at the Home Branch.

i. Salary slips for the month of Feb 2020 and current/latest salary slip.

ii. A declaration of estimated salary/income immediately after the end of the desired moratorium period (Maximum 24 months).

iii. Letter of discharge from job (in case of job loss).

iv. Account statements of the account where salary is credited in case of salaried employees or statement of Operating Account in case of businessmen/selfemployed/professionals for the period Feb 2020 till 15 days prior to submission of application.

v. Declaration by self-employed professionals/ businessmen declaring that their business is affected by Covid-19.

The last date to apply for relief under the Framework is 24.12.2020.

The following relief/relaxations may be sanctioned under the Framework subject to compliance of bank norms:

i. Moratorium of upto a maximum of 24 months.

ii. Rescheduling of instalments and extension of tenure by a period equivalent to the moratorium granted subject to a maximum of 2 years. 

Interest will be applied during Moratorium. The moratorium sanctioned under this Framework will be in addition to the moratorium granted by the Bank earlier.

This is product specific. For example, in case of home loan, the tenure of the loan can be extended upto a maximum of 24 months or till the primary borrower attains 77 years of age, whichever is earlier. In any case, the tenure of the loan can be extended only upto maximum 24 months under this framework for Covid -19 related stress.

Any change in EMI :-

On account of moratorium granted, the tenure of your loan will be extended by the period of moratorium and the EMI payable after the moratorium will be recalculated and advised to you.


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