SBI scraps processing fees, come up with offers for retail customer
The country’s largest lender State Bank of India on Monday announced a slew of offers for its retail customers ahead of the festive season.
The bank has announced a 100% waiver on processing fees for its car loan customers across all channels, a release said, adding that customers can get the facility of up to 90% on-road financing for their car loans.
The lender is also offering a special interest concession of 25 basis points (bps) to a customer applying for a car loan through YONO.
YONO (You Only Need One App) is the mobile banking app of the lender.
YONO users can avail car loans at an interest rate starting at 7.5% per annum, the release said.
The bank is offering a reduction of 75 bps in the interest rates for customers availing of gold loans. They can avail of gold loans from across all channels of the bank at 7.5% per annum.
Moreover, it has waived off the processing fee for all the customers applying for gold loans via YONO, the release said.
For personal and pension loan customers, the lender has announced a 100% waiver in processing fees across all channels.
For Covid warriors i.e, fr line healthcare workers ap ing for personal loans, a spe interest concession of 50 has been announced. This o will soon be available for a cation under car and gold lo as well, it said.
The lender said it is intro ing a ‘Platinum Term Depo offer for its retail depositor mark 75 years of independe Under the offer, customers get additional interest ben of up to 15 bps on term dep for 75 days, 75 weeks, an months tenors starting Au 15, 2021 to September 14, 20
“We believe that these o ings will help customers to more on their loans and at same time add value to their tive celebrations,” the ba managing director (retail digital banking) C S Setty s
Last month, the bank announced a 100% waive processing fees on home lo till August 31, 2021. Its h loan interest rate start 6.70%.