The State Bank of India has officially declared that the bank will waive off the processing fee on home loans till August 31. It said that SBI customers can gain substantially under its limited period ‘Monsoon Dhamaka Offer’ and that it will help revive the consumer sentiments.
News agency PTI quoted SBI saying “There could not be a better time to buy a house, considering SBI home loan interest rates start at just 6.70 per cent,” The Monsoon Dhamaka Offer is for a limited period ending on August 31. Currently, the processing fee on home loans is 0.40 per cent.
There will be a concession of 5 bps (0.05 percentage) for home loans applied through the bank’s YONO App. Women borrowers will be eligible for concession of 0.05 percentage (5 basis points/bps) on the loan rate.PTI also quoted SBI saying, “We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as the interest rate is at its historic low. We strive to be a banker to every Indian and thereby, be partners in nation-building,” The SBI has always come up with various offers from time to time to revive consumer sentiments.
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