State Bank of India has reduced the processing fee on home and auto loans by 50% for loans availed from 17th October, 2012 to 31st December, 2012. With this reduction, the Bank is quoting the lowest processing fee on both home & auto loans to customers.
For home loans upto Rs. 25 lacs, the processing fee stands reduced from 0.25% to 0.125, while for auto loans the processing fee stands reduced to 0.225% of the loan amount from 0.50% of the loan amount.
Shares of State Bank of India were trading lower by 0.23% on the Bombay Stock exchange at 1.00 pm.