Last month, the country’s largest lender State Bank of India (SBI) announced a waiver of processing fee home loans till the end of August. At present, the processing fee on home loan is 0.40 per cent.
SBI said that this is a limited period ‘Monsoon Dhamaka Offer’ of the bank, through which the home loan customer can benefit immensely. The state-owned lender said the proposal would help revive consumer sentiments.
SBI Home Loan: Discount through YONO App
There will be a concession of 5 bps for home loans applied through the bank’s one-stop YONO app.
SBI Home Loan: Concession for Women Buyers
Women borrowers will be eligible for a concession of 5 basis points on the loan rate
“There could not be a better time to buy a home than this as SBI Home Loan interest rates start from just 6.70 per cent,” SBI said in a release. The Monsoon Dhamaka offer is for a limited period ending 31 August 2021, SBI said.
“We are confident that this offer of processing fee waiver will facilitate and encourage home buyers to take easy decisions, as interest rates are at their all-time low. We strive to be a banker to every Indian and thus the nation. partner in manufacturing,” said CS Setty, MD (Retail & Digital Banking), SBI.
state Bank of India It is the largest commercial bank in terms of assets, deposits, branches, customers and employees. It is also the largest mortgage lender in the country which has so far fulfilled the dream of buying a home of 3 million Indian households. The home loan portfolio of the bank has crossed a milestone ₹ 5 lakh crore. SBI has a market share of 34.77% and around 31.11% respectively in the home loan and auto loan segment.
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