SBI gift waives processing fee on all retail loans, interest also reduced

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Even before the start of the festive season, SBI has made several offers to attract customers. The bank is also exempting its customers from processing fees with low interest on home loans, car loans, personal loans, and gold loans.


SBI said on Monday that the customer applying for a loan through the bank's YONO app will not have to pay the processing fee. Interest on car loans will start from 7.5% and 100% of the on-road price will be given on select models. The customer purchasing the house in the approved project from the government will not have to pay the processing fee on the home loan. Depending on the credit score and the loan amount, a special rebate is also being given up to 10 basis points in interest.


On the application form the Yono app, there will be a further rebate of 5 basis points in interest. Apart from this, a gold loan is available for 36 months at 7.5% interest. Personal loans will also be given at a rate of 9.6 percent. SBI account holders can check their eligibility by writing the last four digits of the account after the PAPL space, via message to 567676.


It still takes a processing fee

Personal loan: 1.50% of the loan amount and GST

Car loan: 0.50 percent of the loan amount and GST

Home loan: 0.40% of the loan amount and GST

Gold loan: 0.50 percent of the loan amount and GST