IN State Bank of India (SBI) today announced Monsoon Dhamaka’s 100 percent waiver of home loan processing fees. This is a significant reduction in existing 0.40% handling fees. A mortgage customer can benefit significantly from this time-limited offer. The Monsoon Dhamaka offer is valid for a limited time until August 31, 2021.
India’s largest commercial bank also announced that the offer would provide a 5bp discount. (0.05 percent) for a home loan submitted through the YONO app. SBI also announced that female home loan borrowers are eligible for a 5bp benefit.
Referring to the waiving of SBI home loan processing fees, CS Setty, MD (R&DB) at SBI, said: “We are delighted to announce the Monsoon Dhamaka offer to our potential home loan clients. We believe this proposal to waive processing fees will make it easier and more inspiring for home buyers to make decisions with ease as the interest rate is at historically low levels. We strive to be the banker for every Indian and thus be partners in nation-building. ”
SBI has always been at the forefront of reviving consumer sentiment, coming up with different proposals from time to time. Best time to buy a home considering SBI home loan interest rates start at just 6.70%.
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