Festive loan offers have begun with the advent of the festive season, with State Bank of India (SBI) kick-starting the season with a few freebies on loans.
State Bank of India is offering zero per cent processing on home loans. This can be a big saving given the fact that most banks charge 0.50 per cent processing fees on home loans. So, the savings can be pretty high on a big ticket loan, like a home loan
Most banks tend to offer festive loans during the season and many private sector lenders are likely to follow State Bank of India.
The likelihood of a processing fee waiver is the best that banks may offer. In fact, Banks have also cut interest rates in the last few days following the Reserve Bank of India's decision to cut repo rates by 50 basis points.