State Bank cuts processing fee on home, auto loans

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, October 17, 2012, 13:09 [IST]

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.

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