- The State Bank of India has announced various offers for its retail customers.
- Retail customers will get a 100% waiver on the processing fees for their car loans.
- The bank will also give a concession on the interest rate of the car loan if the retail customer is applying through YONO Application.
The State Bank of India is one of the top-notch banks of India. It has millions of retail customers having their savings account with the bank and they are enjoying various facilities from the bank. But the State Bank of India has introduced new offers for its retail customer so that they can have more facilities. There are many announcements made by the State Bank of India that were in the favour of its customers. The bank will offer a 100% waiver on the processing fee that is charged on a car loan. On the other hand, the bank will now finance 90% of your car price if you are applying for a car loan. Let’s explore more offers that are recently introduced by the State Bank of India for its retail customers.
List of Offers Announced by SBI
- Retail Customers will get a 100% waiver of the Processing Fee charged on a Car Loan.
- Now the Retail Customers can take a loan of up to 90% of the car’s on-road price.
- Get a Special Interest Concession of 25 basis points (bps) if the retail customer is applying for a car loan through the YONO Mobile Application.
- The YONO App users can avail of the car loan at a starting interest rate of 7.5% per annum.
- There is also a reduction in the interest rate of gold loans by 75 bps.
- The gold loans will be available at an interest rate of 7.5% per annum across all the channels.
- The processing fee will be waived off if the retail customer is applying for the gold loan through the YONO Mobile Application.
- The Personal Loan Customers and the Pension Loan Customers will get a 100% waiver in processing fee across all the channels.
- The COVID warriors or the frontline healthcare workers will get a special interest concession of 50 bps on the personal loans and this offer will be soon available on the car loans and gold loans.
Platinum Term Deposits
There are a lot of SBI Retail Customers who have their term deposit with the bank because it is one of the safest investments with a good return. So, in order to boost up the term deposit, the bank has announced a Platinum Term Deposit scheme to mark the 75 years of independence. In this scheme, you will get an additional benefit on the interest of 15 bps on term deposits. The term deposit can be of 75 days, 75 weeks, and 75 months and you can invest in this term deposit from the 15th of August 2021 to the 14th of September 2021.
So, all the latest offers for the SBI Retail Customers are given to boost up the savings of the individuals. Now the people can take more loans and have to pay less interest. As the festive season is going to arrive therefore the State Bank of India has announced such offers on the loans. Now, people can fulfil their dreams and give themselves a financial push during the festive season.