Hurry! SBI’s 100% mortgage processing fee waiver offer ends tomorrow
Last month, the country’s largest lender, the State Bank of India (SBI) announced the removal of processing fees on home loans until the end of August. Currently, the mortgage processing fee is 0.40%.
SBI said it was the bank’s time-limited “Dhamaka Monsoon Offer” that a home loan customer can earn significantly. The public lender said the offer would help rekindle consumer sentiment.
SBI real estate loan: Concession via Yono App
There will be a 5 basis point concession for home loans applied through the bank’s unique YONO app.
SBI real estate loan: Concession for women buyers
Women borrowers will be eligible for a concession of 5 basis points on the loan rate
“There couldn’t be a better time to buy a home, given that SBI mortgage interest rates start at just 6.70%,” the SBI said in a statement. The Monsoon Dhamaka offer is for a limited period ending August 31, 2021, SBI said.
“We believe this offer of waiver of processing fees will make it easier and more encouraging for homebuyers to make a decision with ease, as the interest rate is at an all-time low. We strive to be a banker for every Indian and thus, being partners in nation building, ”CS Setty, MD (Retail & Digital Banking), had said SBI.
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 that has so far made the dreams of buying a house of 30 lakh Indian families come true. The bank’s mortgage portfolio has passed the milestone ?? 5 lakh crore. SBI has a market share of 34.77% and approximately 31.11% respectively in the home loans and auto loans segment.
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