IN State Bank of India (SBI) has unveiled a series of new retail loan and deposit offerings for its clients. The bank announced a cut in interest rates as well as a 100 percent waiver of car loan processing fees for customers across all of its channels. In addition to this, SBI came out with other preferential interest rates.
Sri KS Setti, Managing Director of SBI (Retail and Digital Banking), said: “We are delighted to announce several offers to all of our retail customers ahead of the holiday season. We believe these offers will help customers save more on their loans and at the same time add value to their holiday celebrations. At SBI, we continually strive to offer the best financial solutions to all our valued clients and help them meet their needs and requirements. ”
SBI Home Loan Interest Rates and Processing Fees
The State Bank of India has granted its clients a full exemption from home loan processing fees. Female clients can also benefit from an interest rate of 5 bps. Non-female clients can also apply for this if they do so through SBI YONO.
SBI auto loan concessions
The bank offers clients a 100% waiver of car loans across all channels for its clients. In addition, customers can receive up to 90% of the road financing for a car loan. As part of a special incentive, the lender is offering customers 25 basis points for customers applying for a car loan through YONO. Clients using SBI YONO and wishing to buy a new car can take advantage of the loan at an interest rate of 7.5% per annum.
SBI Gold Loan Concessions
The bank offers its clients a 75 bp cut in interest rates. gold loan… Clients can also use them through any channel of the bank at an interest rate of 7.5% per annum. The bank also waived processing fees for customers who applied for a gold loan through SBI YONO.
SBI Personal and Retirement Benefits
The bank announced a 100% waiver of processing fees across all channels. The State Bank of India also announced that it will provide a preferential interest rate of 50 basis points for Covid-19 warriors, that is, frontline workers who apply for a personal loan. Soon it will be available to them also for car loans and gold.
SBI ‘Platinum Term Deposits’ Interest Rate
Now, turning to private investors, the bank is introducing the Platinum Time Deposits scheme. It is launched in recognition of the 75th anniversary of independence. At the same time, the bank’s clients can receive additional interest payments of up to 15 bp. for Time deposits for 75 days, 75 weeks and 75 months. This was supposed to take effect on August 15 and last until September 14, 2021.
SBI Tax Return Update
In an official tweet on Twitter, a major lender stated that customers can file their tax returns on YONO for free. The tweet read: “SBI is celebrating 75 years of Indian independence with a special offer for you. Submit your income tax return to Tax2win on YONO for FREE! “