New Delhi: State Bank of India (SBI) on Monday announced multiple offers for its retail customers. As part of Azadi ka Mahotsav, the government’s initiative to commemorate 75 years of independence, the bank is providing special offers on its retail loans and deposits.
After offering zero processing fee on home loans, the bank has announced a full waiver on processing fees for its car loan customers across all channels. Further, customers can avail the facility of up to 90 per cent on-road financing for car loans.
For retail customers, SBI is introducing ‘Platinum Term Deposits’ to mark 75 years of independence, where customers can get additional interest benefits up to 15 bps on term deposits for 75 days, 75 weeks, and 75 months tenors starting August 15 till September 14 this year.
The bank is also offering a special interest concession of 25 bps for customers applying for a car loan through the YONO app. Users can get the loan at an interest rate as low as 7.5 per cent per annum using the app, SBI said in a press release.
For its gold loan customers, the bank is offering a reduction of 75 bps in interest rates. Customers can avail gold loans across all channels of the bank at 7.5 per cent per annum. The bank has also waived off the processing fee for all the customers applying for a gold loan via YONO app.
SBI has also announced a 100 per cent waiver in processing fees across all channels for its personal and pension loan customers.
Moreover, the bank is offering a special interest concession of 50 bps to Covid warriors such as frontline healthcare workers who are applying for personal loans. This facility will soon be available for car and gold loans as well.
“We are glad to announce multiple offerings for all our retail customers ahead of the festive season. We believe that these offerings will help customers to save more on their loans and at the same time add value to their festive celebrations,” said C S Setty, MD (Retail & Digital Banking), SBI.