SBI brings great relief to customers: extra two years of debt repayment

 SBI brings great relief to customers: extra two years of debt repayment

SBI has brought good news to its customers.  Customers who have taken home loans or other loans from State Bank of India will have an additional 2 years to pay 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, meaning 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 a loan before March 1 and you have to repay it within 5 years, you can repay it in 7 years if you want.

 But for this, the bank will charge you an additional 35 basis points per annum, i.e.  0.35 per cent extra interest.  However, the State Bank of India's rebate could be a major blow to the Kerala epidemic, which has resulted in many jobs being lost and pay cuts.  To get this service you have to submit it to a bank that has lost its job or has borrowed enough proof of salary cuts.