Ahead of festive season which marks the purchase of different consumer durables, two-and four wheelers as well as home by select few, SBI has brought in cheers for the potential borrowers by way of 100% waiver on processing fee on different loan types. The loan categories include car loan, personal loan, personal gold loan and waiver is also available in case home loan is switched to SBI bank.
The move by SBI comes few days after the private sector banker, Axis Bank introduced its new offering, Shubh Aarambh Home loans, which would give 12 months EMI waiver on home loans upto Rs. 30 lakh as lower tenure of loan repayment. But the benefit is available only for borrowers who stick to the repayment guideline strictly and make regular payment.
In a press release, SBI said on car loans, the bank has extended complete waiver on processing fees until December 31, 2017. For personal gold loans, the waiver on processing fees is upto 50% and until October 31, 2017.
On personal loan product, Xpress Credit of the bank, customers can get 50% waiver on processing fee until September 30, 2017.