SBI Announces NIL Processing Fee For New Home Buyers: Check Report

The country's largest lender, the State Bank of India (SBI), has unveiled a flurry of flavorful offers for new home buyers. For new home purchasers, the bank has waived the 0.40 processing fee on home loans. This 'Monsoon Dhamaka' deal is available until August 31, 2021, according to the bank. The country's largest lender also stated that a home loan applied for using the YONO App will receive a 5 basis point (0.05 percent) rebate whereas female borrowers of house loans will receive a 5 basis point discount.

Via its official Twitter account SBI has also informed regarding the same that "It's raining offers for new home buyers! Apply for a Home Loan with NIL* processing fee. What are you waiting for? Visit: https://sbiyono.sbi."

CS Setty, MD (R&DB) of SBI, commented on the SBI home loan processing fee waiver that "We are pleased to announce the Monsoon Dhamaka offer for our prospective home loan customers. We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as interest rate is at its historic low. We strive to be a banker to every Indian and thereby, be partners in nation building," according to Zee News.

With an interest rate starting from 6.70% on home loans, SBI has also posted via its Twitter handle that "Owning a new house is nothing less than a dream. SBI is proud to be the no. 1 choice for #HomeLoan in the country." The bank via a short video of 0.20 seconds has also claimed that "We thank 41 lakh customers for trusting us to make their dream homes a reality. SBI continues to be the largest home loan provider in the country. Supporting dream home of millions."