In a bid to provide relief to its retail borrowers amid the COVID-19 crisis, the State Bank of India (SBI) had launched an online portal where customers can check eligibility and apply for restructuring their loans online. According to the directives of the Reserve Bank of India (RBI), the country’s largest public lender came out with the loan restructuring policy to tackle the impact of the COVID-19 pandemic and to provide some relief to customers. Education loans, auto loans, personal loans, housing, and other related loans are covered under the restructuring scheme, which can be availed subject to eligibility. Customers can apply for loan restructuring online by following some easy steps.
