SBI extends term loan EMI moratorium by 3 months as coronavirus 'respite''

State Bank of India will extend by three months the moratorium on term loan EMIs without waiting for customers request, said the lender in a statement on Wednesday.
 

The state-owner lender said it had contacted loan customers to obtain their consent to stop their Standing Instructions (SIs)/ National Automated Clearing House (NACH) mandate for the EMIs falling due in June, July, and August 2020. Customers who want to defer their EMIs can give their assent by responding to phone text message sent by the Bank within five days.