The State Bank of India (SBI) has rolled out a whole series of new offerings on its retail loans and deposits to its customers. The bank announced concession on interest rates on as well as a 100 per cent waiver of processing fee on the car loans for customers across all of its channels. In addition to this, SBI came out with other concessional interest rates.
Shri C S Setty, the MD (Retail and Digital Banking) of SBI said, “We are glad to announce multiple offerings for all our retail customers ahead of the festive season. We believe that these offerings will help customers to save more on their loans and at the same time add value to their festive celebrations. It is our constant endeavour at SBI to offer the best financing solutions to all our valued customers and help them fulfil their needs and requirements.”
SBI Home Loan Interest Rates and Processing Fee
The State Bank of India has given its customers the provision of a complete processing fee waiver on the home loan. Women customers can also avail 5 bps interest concession. Non-female customers can also apply for this if they do so via SBI YONO.
SBI Concessions on Car Loan
The bank is offering customers a 100 per cent waiver on the car loan across all its channels for its customers. Additionally, customers can further enjoy the facility of up to 90 per cent on-road financing for their car loan. In terms of a special concession, the lender is offering customers 25 bps for customers applying for a Car loan via YONO. Customers who use SBI YONO and want to buy a new car can avail of a loan at an interest rate as low as 7.5 per cent per annum.
SBI Gold Loan Concessions
The bank is offering its customers a reduction of 75 bps in the interest rates on its gold loan. Customers can also avail of these across any channel of the bank at an interest rate of 7.5 per cent per annum. The bank has also waived off the processing fee for the customers applying for the gold loan via SBI YONO.
SBI Personal & Pension Loan Concessions
The bank has announced a 100 per cent waiver in processing fees across all channels. The State Bank of India also announced that there would be a special interest concession of 50 bps given to Covid-19 warriors i.e., frontline workers who are applying for a personal loan. This will soon be available for them under the car and gold loans as well.
SBI ‘Platinum Term Deposits’ Interest Rate
Now, coming to the retail depositors, the bank is introducing a scheme called ‘Platinum Term Deposits’. This is being launched in recognition of the 75 years of independence. Under this, customers of the bank can get additional interest benefits of up to 15 bps on Term Deposits for 75 days, 75 weeks and 75-month tenures. This was set to take effect on August 15 and extend till September 14, 2021.
SBI Income Tax Return Update
In a tweet from its official Twitter handle, the big lender stated that customers could file their Income Tax Returns on YONO for free. The Tweet read, “SBI marks India’s 75th Independence Day with a special offer for you. File your Income Tax Return with Tax2win on YONO for FREE!”
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