SBI launches Loan Restructuring Portal. Is your SBI Home Loan or Auto Loan or Personal Loan eligible for Restructuring due to Salary Cuts or Job Loss?

Find all details on how and where to apply, who is eligible and what are the Fine T&C related to restructuring.

by admin Updated: 24 Jan, 2021, 13:04 IST
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As per recent directive by RBI, India's largest Lender SBI (State Bank of India) have announced the Launch of Online Loan Restructuring Portal to help retail investors have some relief if they are suffering from a Salary cut or Job Loss during such uncertain times. The online portal is very easy to use and will make it hassle-free for borrowers to check eligibility and enrol in the Restructuring scheme. 

The Restructuring policy allows borrowers to opt for a Moratorium of 1 to 24 months depending on their income and can check the eligibility online instantly.

How to Check Eligibility for SBI Loan Restructuring?

To check eligibility, you can simply login to the portal

Check Loan Restructuring EligibilityAfter completing OTP validation and providing necessary information, the customer will know their eligibility and receive a reference number. This reference number will be valid for 30 days and within which time customers can visit the SBI branch to complete the required formalities.

Things to remember before you opt for Restructuring / Moratorium.

One should remember always that these restructuring schemes will increase your interest rate and it does not FREE you away from interest accrual during that period. 

  • Borrowers will be charged 0.35% more than other customers. 
  • Moratorium will be for 1 month to 24 months which customers can opt for.
  • Its applicable for all Housing Loans, Auto Loans, Education loans as well as personal loans.

One should opt for such scheme only if they are very sure about the uncertainty around a steady income for next 6-24 months

All Important FAQs for Resolution Framework for COVID-19 related Stress

This FAQ are meant only for Personal Segment Loans.

1. What is the purpose of this Resolution Framework?

The purpose of this Framework is to provide relief to borrowers affected by the Covid19 pandemic.

2. How do I know that I am eligible for Resolution under this framework?

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.

3. Which are the Loans covered under this Framework?

i. Housing and other related Loans
ii. Education Loans
iii. Auto Loans (other than loans for commercial use)
iv. Personal Loans

4. 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.

5. Am I eligible if I have taken a loan after 1st March 2020 but affected by Covid-19 pandemic?

No, only those accounts that existed in Banks books on 1st March 2020, are eligible

6. My present Income is not affected, but I foresee an income loss in future. Whether I am eligible for restructuring based on future lower income?


7. How to apply for relief under above Framework.

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.

8. What are the documents to be uploaded/submitted while applying?

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.

9. Upto what date can I apply for relief under the Framework?

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

10. Whether Interest will be applied during Moratorium?


The complete list of FAQs can be found here.

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HA nice info.


Not working portal


Interest will still be charged, & then interest of interest. Don’t fall in debt trap. If you are capable to pay EMI, pay it monthly.

Mufasa wrote:

Interest will still be charged, & then interest of interest. Don’t fall in debt trap. If you are capable to pay EMI, pay it monthly.

Yep, that’s why I didn’t opt in. Tenure gets longer and u the interest on interest start to pile on

Mufasa wrote:

Interest will still be charged, & then interest of interest. Don’t fall in debt trap. If you are capable to pay EMI, pay it monthly.

Completely agree. One should avoid to opt in unless they have no alternative left.

Mufasa wrote:

Interest will still be charged, & then interest of interest. Don’t fall in debt trap. If you are capable to pay EMI, pay it monthly.

I don’t know exactly but some case decision is to be declared on this issue, right.


If you have money and regular source of income, its best to avoid such schemes.


it’s useful for credit card user