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Home / Money / Personal Finance /  Hurry! SBI offer of 100% waiver on home loan processing fee ends tomorrow

Last month, the country's largest lender State Bank of India (SBI) announced waiving processing fees on home loans till August-end. Currently, the processing fee on home loans is 0.40 per cent.

SBI said it is the bank's limited period 'Monsoon Dhamaka Offer', through which a home loan customer can gain substantially. The state-owned lender said the offer will help revive the consumer sentiments.

SBI home loan: Concession through Yono App

There will be a concession of 5 bps for home loans applied through the bank's one-stop YONO App.

SBI home loan: Concession for women buyers

Women borrowers will be eligible for concession of 5 basis points on the loan rate

"There could not be a better time to buy a house, considering SBI home loan interest rates start at just 6.70 per cent," SBI said in a release. The Monsoon Dhamaka Offer is for a limited period ending on 31st August 2021, SBI said.

"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," C S Setty, MD (Retail & Digital Banking), SBI had said.

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of  5 lakh crore.  SBI commands a market share of 34.77% and about 31.11% in the home loans and auto loans segment respectively. 

 

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