New Delhi: The country’s largest lender, State Bank of India (SBI) has announced Monsoon Dhamaka Offer with a 100 percent waiver on processing fees on home loans.
This is a significant reduction from the existing processing fees of 0.40 percent. A home loan customer stands to gain substantially through this limited period offer, said SBI.
The SBI Home Loan interest rates start at just 6.70 percent. The Monsoon Dhamaka Offer is for a limited period ending on August 31. There will be a 5 bps concession for a home loan applied through YONO App while women borrowers are eligible for a 5 bps concession.
The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on March 31, 2021, the State bank of India has a deposit base of nearly Rs. 37 lakh crore with CASA ratio of over 46% and advances of more than Rs. 25 lakh crore.
The integrated digital and lifestyle platform by SBI – YONO has over 37 million registered users, which witnesses 9 million logins per day. Accelerating the digital agenda, 2 million accounts have been opened through YONO in the quarter ended March 2021. In terms of digital lending, the bank disbursed personal loans of more than Rs. 5300 crore through the YONO mobile app in the same quarter.