Apply for HOPE Loans and Pay Zero Processing Fee – Limited Period Offer!
Last Updated : March 18, 2017, 2:35 p.m.
Have you ever thought of helping yourself and others at the same time? Well, even if this looks a little difficult achieve, it is now possible with State Bank of India Hope Loans with ’no‘ processing fee involved. Yes, SBI is here to help you make a difference in a person’s life in a direct or indirect way. This scheme includes personal loans, home loans, car loans, education loans and transactions. The bank has taken an initiative towards making India the Digital India and provided this facility through the State Bank Buddy mobile wallet. This scheme is a perfect for both the customers as well the ignored section of the society.
Under this scheme, the bank will donate the money to the NGOs who work for the welfare of the society in terms of education, health & hygiene, environment, and shelter. The purpose of this Hope Loan scheme is to help the underprivileged to live a sustainable life with food, clothing, and shelter. What makes Hope Loans different from other CSR activity of the banks is that unlike others, the bank will conduct many activities at or near its offices across the country so that it is easier for everyone to be a part of. The activities will include blood donation camps, book collection & distribution drives, organ donation sign-ups, health checkups and other activities that will help the society in some way or the other.
State Bank of India is not at any processing fee on the loans through State Bank Buddy mobile wallet irrespective of the fact that it is presently offering one of the lowest interest rates on loans. So, this becomes an add-on for the customer as they can save more now! Even though processing fee on loans is a one-time payment, it is a good saving for a customer is he/she is able to save it. Different loans have different processing fee involved so if you are applying for a home loan through State Bank Buddy mobile wallet, you will have to pay NO processing fee. Let us see how much are you going to save on different loans.
Home Loans
SBI home loan interest rates are one of the lowest interest rates in the market today with the starting rate of 8.50% per annum. When you are applying for a housing or home loan at the bank, you have to pay certain processing fee also which is 0.35% of the loan amount plus applicable tax or a maximum of ₹10,000 plus applicable tax whichever is higher. So, for instance, if you are taking a loan of ₹20 lakhs, you have to pay ₹7,000 as the processing fee. However, if you will apply for this loan, at the same amount, from State Bank Buddy mobile wallet, you will clearly save this money!
Personal Loans
Presently, personal loans at SBI are available at from 11.90-16.55% p.a. Since annual interest rates do not include the processing fee, a customer has to pay the one-time processing fee of 1.01% of the loan amount plus applicable taxes. Let us suppose that you take a personal loan of ₹15 lakhs, the processing will be ₹15,150/-. But, now with the hope loan scheme, you save this money so easily! Isn’t it amazing? Yes, SBI hope loans are a real saviour now.
Car Loans
SBI car loans are now available at the rate from 9.20-9.25% per annum with the processing fee of 0.50% of the loan amount plus applicable taxes involved. However, if applied under the hope loan scheme that is through State Bank Buddy mobile wallet, you will have to pay no processing fee on a car loan. If your car loan amount is ₹5 lakh, you will clearly save the 0.50% processing fee which is ₹2,500/-.
Education Loans
Now, education loans as you know are secured loans that are available for the students who want to achieve their dream of foreign education or want to get a degree from a top college but the fee is out of their budget. SBI education loans are designed by keeping in mind the needs as well as the affordability of the students. Hence, the interest rates on an education loan are one of the lowest in the market ranging from 9.35-10.75% per annum. However, just like any other loan, there is a processing fee which is maximum up to ₹10,000 per application. Having said that, if applied via the hope loan scheme that is through State Bank Buddy mobile wallet, this can be saved and hence a sheer relief to the students as well as their parents.