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Home >Money >Personal Finance >SBI waives off processing fee on home loans till 31 August

The State Bank of India (SBI) today announced Monsoon Dhamaka Offer with a 100 per cent waiver on processing fees on home loans. This is a significant reduction from the existing processing fees of 0.40 per cent. A home loan customer stands to gain substantially through this limited period offer. The Monsoon Dhamaka Offer is for a limited period ending on 31st August 2021.

The largest commercial bank in India also announced that 5 bps (0.05 per cent) concession for a home loan applied through YONO App will also be given under this offer. SBI also announced that women home loan borrowers are eligible for a 5 bps concession.

Speaking on the SBI home loan processing fee waiver CS Setty, MD (R&DB) at SBI said, "We are pleased to announce the Monsoon Dhamaka offer for our prospective home loan customers. We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as interest rate is at its historic low. We strive to be a banker to every Indian and thereby, be partners in nation building."

SBI has always been at the forefront of reviving consumer sentiments by bringing out various offers from time to time. There could not be a better time to buy a house, considering SBI Home Loan interest rates start at just 6.70 per cent.

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