SBI had stated that the option of wanting to take the EMI moratorium or to continue making payments is upto the borrower. If you have enough cash flow then it is not necessary to take up the EMI holiday. So if you have given instructions to deduct payments as per schedule to SBI, it will continue to happen until you intimate your bank about wanting to opt for the EMI holiday. So to opt for the moratorium, you would have to mail the bank instructing the same. 

Options given to the customers:

  • If you do not want to opt for the repayment holiday you don’t need to take action. You can continue your EMI payments as per schedule 
  • If you want to take up the EMI holiday:
  • If instalments were effected through National Automated Clearing House (NACH), you would have to submit an application along with a mandate for NACH Extension to stop NACH for these instalments through an email to the specified email ID
  • Standing Instructions - You can submit an application by sending it through an email to the specified email ID

You can get the application forms and the email IDs on SBI’s official website.