SBI waives home loan processing fee till August end

02 Aug 2021 CW Team

State Bank of India (SBI) has waived processing fee on home loans till August-end. The processing fee on home loans is 0.40%, currently.

SBI told the media that it is the bank's limited period 'Monsoon Dhamaka Offer', through which a home loan customer can earn considerably. The state-owned bank said that the offer would help recover the customer sentiments.

SBI told the media that there could not be a more suitable time to purchase a house, considering SBI home loan interest rates beginning just at 6.70%. The Monsoon Dhamaka Offer is for a short period ending on August 31, 2021.

C S Setty, MD (Retail & Digital Banking), SBI told the media that they believe this offer of processing fee waiver will support and encourage home buyers to make decisions with comfort, as the interest rate is at its historic low. They aim to be a banker to every Indian and thereby be partners in nation-building.

There will be a 5 bps (0.05%) concession for home loans applied via the bank's one-stop YONO App. Women borrowers will be qualified for a concession of 0.05% (5 basis points/bps) on the loan rate.

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Also read: Yes Bank, Indiabulls Housing enter co-lending pact to offer home loans

Also read: Around Rs 1.35 lakh cr real estate debt under serious pressure

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