The country's largest lender, State Bank of India (SBI), unveiled a slew of retail loan deals on Monday in honor of the country's 75th Independence Day, such as processing fee waivers on loans and more. Customers who wish to apply for a car loan can do so through the SBI New Car Loan Scheme, which allows them to finance up to 90% of the 'On-road Price.' Other perks offered by the bank on car loans include competitive interest rates and EMIs, the on-road price covers registration and insurance, no advance EMI, optional SBI Life Insurance cover, and more. Customers who apply for a car loan using the YONO app will also receive a 25 basis point (bps) interest discount.
The bank is currently giving an interest rate of 7.75 percent on SBI Car Loans, NRI Car Loans, and the Assured Car Loan Scheme. Customers who apply for a car loan using the YONO app, on the other hand, can get a 7.5 percent interest rate respectively. The gold loan interest rate of India's largest public sector bank, the State Bank of India, was recently changed and after the most recent revision, the bank is now offering an interest rate starting from 8.25% on gold loans. Customers who apply using the YONO app will also get an additional 0.75 percent rebate if they apply on or before September 20, 2021.
The bank has also declared a complete waiver of processing fees for personal and pension loans for eligible customers. Via its Twitter handle the bank has also announced that "This Independence Day, step into your dream home, with ZERO processing fee on Home Loans. Apply Now: https://sbiyono.sbi."
For taxpayers, there is also good news from SBI. Regarding the same, the bank has also said via its Twitter handle that "SBI marks India's 75th Independence Day with a special offer for you. File your Income Tax Return with Tax2win on YONO for FREE."
The bank has also recently announced a special deposit scheme known as "SBI Platinum Deposits" for retail customers on the occasion of 75th Independence Day. The scheme is valid till 14.09.2021 according to the lender. To know more about the scheme, please click here.