State Bank of India (SBI) has launched a series of special offers for its retail clients to spread the holiday cheer amid the coronavirus pandemic. The nation’s largest lender has announced a 100% waiver on the processing fee for all clients applying for auto, gold and personal loans through YONO. The bank offers the lowest interest rate starting at 7.5% to customers who opt for the car loan. They will also get 100% road financing on select models.
SBI Announces Holiday Specials on Home Loans
SBI has also announced special holiday offers on homebuyer home loans. There would be a complete exemption on mortgage loan processing fees for home buyers on approved projects. The bank also offers special concessions of up to 10 basis points on the interest rate for clients based on their credit score and loan amount. Additionally, home buyers can benefit from an interest concession of 5 basis points if they apply for a home loan through YONO.
SBI Announces Special Offer for Gold Loan Clients
There is good news for gold loan customers too, as they now have flexible repayment options for up to 36 months at the lowest interest of 7.5%. To improve the availability and affordability of credit to people in times of the current crisis, the bank is offering personal loans with interest rates of up to 9.6%.
SBI clients can also avail of a pre-approved paperless personal loan at YONO
With digital banking gaining more and more momentum, especially in today’s scenario, SBI’s flagship banking and lifestyle platform, YONO, is ready to bring an additional layer of convenience to its clients by offering them primary approval on application. of car loan and gold.
How to verify eligibility for a pre-approved personal loan?
SBI clients can also avail a pre-approved paperless personal loan at YONO from the comfort of their homes with just 4 clicks. They can simply verify their eligibility by SMS by typing PAPL
“It is a constant effort of SBI to work for the benefits of its valued customers by offering them products and services that are adapted to their needs and requirements and, at the same time, respecting their pockets. With the economy gradually rebounding, we expect to see a boost in consumer spending while securing SBI’s helping hand so that all those addressing their financial needs have a pleasant holiday season. “CS Setty, MD ( Retail and digital banking), SBI said.
As of June 30, 2020, SBI has a deposit base of more than ₹34 lakh crore with a CASA ratio of over 45% and advances of almost ₹24 lakh crore. SBI has a market share of almost 34% in mortgage loans and almost 33% in the auto loan segment.
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