SBI offers higher rate on term deposits, waiver of processing fee

Mumbai: As the country is celebrating Azadi Ka Amrit Mahotsav – an initiative to commemorate 75 years of Indian independence – the countrys largest bank State Bank of India (SBI) had also geared up to provide an array of offerings on its retail loans and deposits to its customers.

After announcing processing fee waiver on Home loans, the Bank has now announced a 100 per cent waiver on processing fees for its Car loan customers across all channels. The customers can further enjoy the facility of up to 90 per cent on-road financing for their Car loans.

SBI is



offering a special interest concession of 25 bps for customers applying for a Car loan via YONO. The users of YONO SBI planning to bring home a new car can avail of the loan at an interest rate of as low as 7.5 per cent per annum.

For its Gold loan customers, the Bank is offering a reduction of 75bps in the interest rates. Customers can now avail of Gold loans from across all channels of the bank at 7.5 per cent per annum. The bank has further waived off the processing fee for all the customers applying for a gold loan via YONO.