How to avail three-month moratorium for SBI EMI and credit cards

  • The Reserve Bank of India announced a three-month debt moratorium due to the Coronavirus pandemic.
  • While customers can defer their EMIs and loan repayments during this period, interest will still be charged.
  • SBI has enabled the moratorium facility for its customers.
The Reserve Bank of India on March 27 announced a three-month moratorium facility on personal, car, home and other loans due to the ongoing Coronavirus pandemic. State Bank of India is now allowing its customers to apply for the moratorium facility.

Customers of SBI that have a term loan such as a personal loan, car loan, two-wheeler loan or if those who have availed working capital facilities such as cash credit or overdraft, can apply for the 3-month moratorium. Credit card users and debit card users who have EMIs can also apply for this moratorium.

What is a debt moratorium?

Debt moratorium is a temporary suspension on the payment of loans. When you apply for a debt moratorium offered by your bank during the ongoing Coronavirus crisis, your payments will be postponed during the moratorium period.

According to RBI guidelines, the debt moratorium period is from March 1 to May 31, 2020. During this period, customers who have opted for this facility will not have to pay any instalments or dues.

However, interest will still be applicable, so it is advisable that you opt in for moratorium only if it is necessary.

Customers who do not wish to avail moratorium


If you do not have any issues with paying your instalments and do not wish to avail the moratorium facility, no action is required on your part. Payments will continue as usual.

How to avail moratorium for SBI EMI and credit card

If you want to avail moratorium facility, follow the below steps:


  • Go to State Bank of India’s Stop EMI website to download the Annexure – I form or use the below link.
  • Download Annexure – I from here.
  • Fill the form and send it in an email to the specified email ID as per Annexure – II.
  • If you have given standing instructions to SBI for payment of instalments or EMI, you can also send a handwritten application in the same format to your home branch.
How to get refund if you have already paid your instalment or EMI

If your instalment or EMI for the moratorium period has been debited, you can apply for a refund using the Annexure – I form and sending it to the specified email ID as per Annexure – II.

See also:

How to avail three-month moratorium for ICICI Bank EMI and credit cards

Can I defer my credit card payments and FAQs on HDFC Bank’s moratorium process answered

No EMI payments for home, car, and corporate and other loans for 3 months says RBI