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How To Apply, List Of Documents, And Other Guidelines

How To Apply For State Bank Of India's Loan Restructuring scheme

The last date to apply for relief under this scheme is December 24, 2020.

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. 

Through the restructuring scheme, retail customers will be offered a simple option to opt for 1-24 months of loan moratorium. 

How to apply for State Bank of India’s loan restructuring online?

  • Log in to the restructuring portal –
  • Upon logging into the portal, you will be asked to enter the loan account number.
  • Complete the OTP validation and enter other important information
  • You will come to know of your eligibility and will receive a reference number.
  • This reference number will be valid for 30 days
  • Within this time, you can visit the branch to complete the required formalities.
  • The restructuring process will be complete after the verification of documents and complete submission of the documents at the branch.

​Under the resolution framework of the RBI for loan restructuring, only those borrowers are eligible for restructuring whose loan accounts were classified as standard and not default for equal to or more than 30 days as of March 1, 2020.


Along with this, the customers whose salary/income in August 2020 got reduced as compared to February 2020 or those who lost their jobs or suffered through the closure of business are also eligible for the scheme. The last date to apply for relief under this scheme is December 24, 2020.


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