SBI presents special offers on cars, gold loans and more. Check details & nbsp
- YONO users will receive a preferential interest rate of 25 bp. on a car loan
- SBI waives processing fees for car loans, gold, personal and retirement loans.
- Investors will receive additional interest of up to 15 bp. on time deposits
New Delhi: To commemorate the 75th anniversary of India’s independence, the country’s largest bank, State Bank of India (SBI), is providing its clients with a range of retail loans and deposits. Following the announcement of the waiver of home loan processing fees, the public sector lender announced a 100% waiver of processing fees for its auto loan clients across all channels.
According to the offer, customers can additionally receive up to 90% of road financing for their car loans. The bank offers a special preferential interest rate of 25 bp. for customers applying for a car loan through YONO. SBI Yono plans to bring home a new car, you can use the loan at an interest rate of only 7.5% per annum.
For clients of gold loans, the Bank offers a reduction in interest rates by 75 basis points. Now clients can use gold loans through all channels of the bank at 7.5% per annum. The bank also waived processing fees for all clients applying for a gold loan through YONO.
For clients providing personal and retirement loans, the bank announced a 100% waiver of fees for processing payments across all channels. The bank also announced a special 50 basis point interest rate concession for covid warriors, ie, “medical breakthroughs” applying for personal loans, which will soon be available to apply for car and gold loans as well.
CS Setty, MD (Retail & Digital Banking), SBI, 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. ”
Meanwhile, for private depositors, the Bank is introducing “Platinum Time Deposits” to commemorate the 75th anniversary of independence. Clients can now receive an additional interest rate of up to 15 basis points on time deposits for 75 days, 75 weeks and 75 months from August 15, 2021 to September 14, 2021.