On Tuesday, State Bank of India (SBI) announced a bunch of special offers on this festive season for retail banking customers. Customers can avail attractive and cheaper loans with added benefits –waiver in processing fees, pre-approved digital loans and loans with no escalation in interest rates – spread across various categories.
The bank is offering lowest interest rate starting from 8.70% to customers opting for car loan, with no escalation in interest. For customers applying for a car loan online through Bank’s digital platform like YONO/ Bank’s website, the Bank is providing 25 bps concessions on interest rate. The salaried customers can also avail the loan upto 90% of the car’s on-road price.
The bank is offering education loan at an attractive rate of interest starting from 8.25% for loan upto Rs. 50 lakh and upto Rs.1.50 crore for studies in India and abroad respectively. Customers will be offered the longest re-payment tenure of 15 years which effectively will reduce their EMI burden.
On the personal loan front, SBI is offering loan up to Rs. 20 lakh with interest rate from 10.75% with repayment tenure of up to six years. Additionally, salary account customers of SBI can avail pre-approved digital loans up to Rs. 5 lakh through its YONO platform.