Cyber fraudsters keep finding new ways to scam people. The only way to beat the cybercriminals is to be alert & be aware. Please note that EMI Deferment does not require OTP sharing. Do not share your OTP.
The State Bank of India (SBI) informed customers that deferment of equated monthly instalments (EMI) does not require them to share their one-time passwords (OTP) with the bank. Therefore, one should not respond to such messages to avail the benefit of EMI moratorium, warned the bank. Customers who are unable to send application through email can submit the handwritten application in a specified format to the home branch.
The deferment of EMI/NACH or refund of EMI may take approximately 7 working days.