State Bank of India is large commercial bank in country. It announce festive bonanza for its retail customers. And bank has announced waiver of up to 100 per cent processing fee. Like car loans, gold loans and personal loans. This is in beside to existing waiver on processing fee on takeover of home loans. Thus see SBI loyalty car loan scheme. Also check lowest car loan interest rate.
SBI give up processing fees on car, gold, personal loans
In India, State Bank of India is biggest lender. It has assets and 26.02 lakh crore deposits. And every person will buy different consumer durables. Few will buy home or two and four wheelers also. So SBI offers 100% waiver on processing fee on different loan. Bank said to bring more smiles to customers.
Also move by SBI to waive off processing fees. It is likely to increase pressure on other banks to come up with similar offers. Banks are trying to boost their retail lend at time when corporate takeoff credit. This move is expected to boost its retail loan portfolio. Check Right Way to cancel loan
It has waived 100% processing fee on car loans till December 31, 2017. SBI has also waived 50% of processing fee on personal gold loans till October 31, 2017. Till September 30, 2017, you can avail 50% waiver on processing fee on Xpress Credit. As personal loan offering by bank.
Earlier this month, mortgage book volumes and promote better credit has ramp up. Axis Bank offer waiver of 12 EMIs on home loans up to Rs 30 lakh. So Axis Bank few days back announce new home loan scheme. Under this scheme, called Shubh Aarambh Home Loans. You can apply for loans up to Rs 30 lakh. To avail benefit of 12 EMIs’ waiver on home loans with regular repayment.
But offer is to existing waiver on processing fee on takeover of home loans said in bank statement. So waiver is also available in case home loan is switch to SBI bank. But benefit is available only for borrower.
Axis bank is third largest private sector. It will waive at end of fourth, eighth and 12th year of two year loan. SBI levied 0.35 percent of loan amount plus service tax applicable as processing fees. This is also to existing waiver on processing fee on takeover of home loans SBI said.
On July 31, SBI cut interest rate on savings account deposits to 3.5 per cent on balance of 1 crore and below. This rate cut by various banks. Meanwhile, not only SBI, many public and private lenders have introduce their festive offers to attract customers. Thus banks have been introduce various offers, discounts to attract customers.
Also loans can use to buy construction, resale house, and self-construction and plot construction. You also have option to transfer any existing home loans to Axis Bank without any extra cost. As June, PNB had waived processing fees for home and auto loans. It is part of ‘Festive Bonanza’.
But, City Union Bank is in partnership with MasterCard. To offer instant credit card with credit limit of Rs 3 lakh. SBI cut interest rates on savings accounts by 0.5 percent. As per new norm SBI will offer 3.5 per cent rate for saving deposits balance of up to Rs 1 crore. But, for saving deposits above Rs 1 crore balance rate of interest remains 4 percent per annum.
These products are high value add competitive and no incremental cost. This will also encourage regular repayments by you. In case of auto loans, processing fees is nil for certain schemes. Check PNB car loan interest rate. See Banks offer retail banking solutions
Finally, check SBI personal loan interest rate. And also see SBI personal loans for govt employees. SBI You can see loan for plot buy. Also check SBI personal loan interest rate for salary account. Thus to know more details check SBI personal loan EMI calculator.