The country's leading state-run lender State Bank of India (SBI) has announced a complete waiver on its processing charges on loan applications made via the bank's Yono app. Also as the festive season nears, the bank has come up with several exclusive festive offers.
"There would be a complete waiver on processing fees on home loans for homebuyers in approved projects. The bank is also providing special concessions up to 10 bps on the interest rate for the customers based on their credit score and loan amount. Additionally, homebuyers can avail 5 bps interest concession if they apply for a home loan via YONO," the bank said in a press release.
Those seeking for car loan also get discounts from the bank. "SBI is offering the lowest interest rate starting from 7.5% to customers opting for the car loan. They will also get 100% on-road finance on select models," said the bank.
Gold loan customers have the flexibility to repay the loan with a tenure of up to 36 months on offer and lowest interest rate of 7.5 percent. In respect of personal loans, the bank said, "To enhance the availability and affordability of credit to individuals in the times of the current crisis, the bank is offering personal loans with lending rates as low as 9.6%".