A good news for loan seekers amid pandemic, as the lending major SBI on Monday announced a 100 per cent waiver in the processing fee f or “Car, Gold, and Personal loans” availed through its integ rated digital banking platform – YONO.
As per the information, the bank is offering the lowest interest rate starting from 7.5 per cent to customers opting for the car loan. They will also get 100 per cent on-road finance on select models. To enhance the availability and affordability of credit to individuals in the times of the current crisis, the bank is offering personal loans with lending rates as low as 9.6 per cent.”
Besides, the bank gave a complete waiver on processing fees on home loans in approved projects.
SBI had earlier reduced MCLR for shorter tenors by five-10 bps. However, its one-year MCLR stood unchanged at 7%. As of June 30, the bank has a deposit base of over Rs 34 lakh crore with a CASA (current account savings account) ratio of more than 45% and advances of nearly Rs 24 lakh crore.