In the midst of the festive season, SBI has announced several offers for retail borrowers. 100% processing fee has been waived for car loans. It has also been announced to do about 90 percent financing on the on-road price.
SBI offer retail customers: The country’s largest lender State Bank of India (SBI) has announced several offers for its retail customers during the festive season. According to a statement issued by the bank on Monday, no processing fee will be charged from customers taking car loans across all channels. Customers will get a loan of up to 90 percent of the total cost (on-road) for the car.
Apart from this, the bank will give a special interest rebate of 0.25 percent to the customers applying through YONO app. YONO (You Need Only One App) is SBI’s mobile banking app. The car loan will be available to the customers of YONO at an initial rate of 7.5 per cent per annum, the statement said. Apart from this, the bank is offering 0.75 percent less interest to its gold loan customers. A. Customers will be able to take loans from all channels of the bank at an annual interest rate of 7.5 percent. The statement said that customers applying for gold loan through YONO will not be charged processing fee.
Processing fee completely waived
For personal and pension loan customers, the bank has announced 100% waiver of processing fee across all channels. A special discount of 0.50 percent will be given on personal loans to people fighting the battle against the Kovid-19 epidemic, such as healthcare workers. This offer will soon be applicable for car and gold loans as well.
Benefit of additional interest till September 14
To mark the 75th anniversary of Independence, SBI is offering a special ‘Platinum Term Deposit’ for retail depositors. Under this, customers will be given an additional interest of 0.15 percent on fixed deposits of 75 days, 75 weeks and 75 months from August 15, 2020 to September 14, 2021. SBI Managing Director (Retail & Digital Banking) CS Shetty said, “We believe these offerings will provide more savings to customers on their loans.”
