SBI waives processing fee on home loans till August end
The country’s largest bank State Bank of India (SBI) on Saturday announced waiving processing fee on 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.
“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 on August 31, 2021, SBI said.
“We are confident that this offer of processing fee waiver will encourage and encourage home buyers to make decisions with ease, as interest rates are at their all-time low.
We strive to be a banker to every Indian and thereby partner in nation building,” said CS Setty, MD (Retail & Digital Banking), SBI.
There will be a concession of 5 bps (0.05 per cent) for home loans applied through the bank’s One Stop YONO app. Women borrowers will be eligible for a concession of 0.05 per cent (5 basis points/bps) on the loan rate.
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