SBI waives off processing fee on home loans till August 31
- The SBI has always come up with various offers from time to time to revive consumer sentiments.
Written by Susmita Pakrasi | Edited by Meenakshi Ray, Hindustan Times, New Delhi
PUBLISHED ON AUG 01, 2021 08:44 AM IST
The State Bank of India (SBI) has announced it will waive off the processing fee on home loans till August 31. SBI said customers can gain substantially under its limited period 'Monsoon Dhamaka Offer' and that it will help revive the consumer sentiments. "There could not be a better time to buy a house, considering SBI home loan interest rates start at just 6.70 per cent," SBI said in a release. The Monsoon Dhamaka Offer is for a limited period ending on August 31, 2021, the SBI said, reports news agency PTI.
At present, the processing fee on home loans is 0.40 per cent.
There will be a concession of 5 bps (0.05 percentage) for home loans applied through the bank's YONO App. Women borrowers will be eligible for concession of 0.05 percentage (5 basis points/bps) on the loan rate.
"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," CS Setty, SBI's managing director (retail and digital banking), was quoted as saying by PTI.
The SBI has always come up with various offers from time to time to revive consumer sentiments.