Rolling out its limitedperiod offer, Monsoon Dhamaka Offer, the SBI has decided to waive processingfee on home loans till August 31.
SBI, the country’s largestlender currently charges 0.40 percent processing fees for home loans. However,the interest on these home loans will be 6.70%, said the bank.
Notably, the move of SBI willhelp revive consumer sentiments as customers can gain substantially from it.
"There could not be abetter time to buy a house, considering SBI home loan interest rates start atjust 6.70 percent," the release said, adding that the Monsoon DhamakaOffer will end on August 31.
"We believe this offerof processing fee waiver will facilitate and encourage home buyers to takedecision with ease, as the interest rate is at its historic low. We strive to be abanker to every Indian and thereby, be partners in nation-building," SBIMD (Retail and Digital Banking) C S Setty was quoted as saying in the release.
Apart from this, the bankwill also offer a concession of 5 basis points (bps) for home loans applicationthrough its one-stop YONO App. Besides, women borrowers will be eligible for anadditional concession of 5 bps on the loan rate.