SBI loan restructuring online: How to apply, list of documents and guidelines

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Updated: Sep 25, 2020 2:49 PM

The borrower is issued an Arrangement Letter stating the details of relief sanctioned under the resolution framework and other terms and conditions.

SBI loan restructuring, online portal, sbi home loan restructuring, personal loan, online apply, document, guidelines, EMI MoratoriumTo avail the restructuring of loan, the SBI’s retail customers will have to log-in at the portal.

After the EMI moratorium has ended, those paying EMIs on SBI loans such as personal loan, car loan or home loan can avail the benefit of loan restructuring. The process to apply for the SBI restructuring of loans can be done online or by visiting the bank branch. Such a restructuring is in addition to the EMI moratorium scheme that ended on August 31, 2020. The good news is that anyone can opt for it and not necessarily those who had availed the 6-month moratorium scheme since March 2020. The last date to apply for relief under the resolution framework is December 24, 2020.

To avail the restructuring of the loan, the SBI’s retail customers will have to log in at the portal where they will be asked to key in their account number. After completion of OTP validation and inputting a few necessary information, the customers will come to 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 branch to complete the required formalities. The restructuring process will be complete after verification of documents and execution of simple documents at branch/CPC.

The sanction provided by the portal will reflect “provisional eligibility”. The branch may request for submission of other documents depending on requirement or for clarity etc. The decision conveyed by the branch will be final for the eligibility for being considered for relief under this framework.


Copies of the following documents need to be uploaded (if applying online) or submitted along with 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/self employed/ 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.

The bank will process the application within 7-10 working days of submitting the application. Once the eligibility is established, and the relief is sanctioned, one needs to execute the other formalities. One will be issued an Arrangement Letter (in duplicate) stating the details of relief sanctioned under the Framework and other terms and conditions. One will have to return the duplicate copy duly executed & signed by all the signatories to the loan and also guarantors (if any) in token of having accepted the terms and conditions contained therein within 10 days.

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