SBI offers higher rates on fixed deposits, waiver of processing fee
As the country celebrates the Amrit Mahotsav of Azadi – an initiative to celebrate 75 years of Indian Independence – the country’s largest bank State Bank of India (SBI) has also decided to offer its customers a wide range of offers on their retail loans and deposits. Geared up for .
Following the announcement of processing fee waiver on home loans, the bank has now announced 100% waiver on processing fee for its car loan customers across all channels. Customers can avail the facility of on-road financing of up to 90% of their car loans.
SBI is offering a special interest concession of 25 bps for customers applying for a car loan through YONO. Users of YONO SBI planning to bring a new car home can avail loans at a low interest rate of 7.5 per cent per annum.
For its gold loan customers, the bank is offering 75bps reduction in interest rates. Customers can now avail Gold Loan from all channels of the Bank @ 7.5 per cent per annum. The bank has also waived processing fee for all customers applying for gold loan through YONO.
For its personal and pension loan customers, the bank has announced 100% waiver of processing fee across all channels.
The bank has also announced a special interest concession of 50 bps to COVID warriors i.e. ‘Frontline Healthcare workers’ applying for personal loans, which will soon be available for application under car and gold loans as well.
For retail depositors, the bank is introducing ‘Platinum Fixed Deposit’ on completion of 75 years of independence. Customers can now avail additional interest benefit of up to 15 bps on fixed deposits for tenures of 75 days, 75 weeks and 75 months from August 15 to September 14, 2021.
CS Setty, MD (Retail & Digital Banking), SBI, said, “We are delighted to announce a slew of offers for all our retail customers ahead of the festive season. We are confident that these offers will help our customers get more credit on their loans. Will help in saving more. Also add value to their festive celebrations. It is our constant endeavor at SBI to provide best financial solutions to all our valued customers and help them in meeting their needs and requirements.”
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