New Delhi: SBI has brought good news to borrowers. Customers who have taken home loans or other loans from State Bank of India will have an additional 2 years to repay their EMIs. SBI users can get the discount if their income is affected by the corona epidemic. For this, a 24-month moratorium has been extended, which means the loan repayment deadline has been extended by another two years. So whatever the repayment period of your loan will be, it will take another two years. If you have borrowed before March 1 and you have to repay the loan within 5 years, you can repay it in 4 years if you want.
But for this, the bank will charge you an additional 35 basis points per annum, i.e. zero 35 per cent extra interest. However, the State Bank of India’s rebate could be a big relief as it faces a number of job losses due to the Karona epidemic. To get this service, you have to submit a proof of bankruptcy to a bank that has lost its job or has a pay cut.
