New Delhi: State Bank of India (SBI) has rolled out a special offer, the Azadi Ka Amrit Mahotsav campaign, for home buyers on the occasion of 75th Independence Day. The largest state-owned bank has announced that it is offering home loans at zero processing fees, providing a golden opportunity to its customers to get freedom from paying monthly rent.
Announcing the attractive offer for SBI customers on Twitter, SBI said, “This Independence Day, step into your dream home, with ZERO* processing fee on Home Loans.”
SBI is already offering its home loans at one of the lowest interest rates in the industry. At present, one can avail SBI home loan at a low interest of just 6.70 per cent. The interest rate is applicable on home loans worth up to Rs 30 lakhs.
SBI customers can get home loans at even cheaper rates by using the SBI YONO app. The bank said that customers can a 5 bps interest concession on home loans by using the YONO service.
Moreover, SBI is offering a 6.95% interest rate on home loans worth Rs 30 lakhs to 75 lakhs. The interest rate on home loans worth above 75 lakhs currently stands at about 7.05 per cent.
At present, the only lender that is offering cheaper home loans than SBI is LIC Housing Finance Limited (LIC HFL). The state-owned lender is offering home loans starting at about 6.66 per cent.
How to take SBI home loans at zero processing fees?
Under the Azadi Ka Amrit Mahotsav campaign, home loan seekers can apply for home loans with 0% processing fees on August 15. You can apply for a home loan using SBI’s YONO service. Also Read: Fixed deposit alert! Axis Bank revises FD interest rates – new rates here
You can also give a missed call on 7208933140 to avail home loans at 0% processing fees. SBI has also said that loan sanction depends on many factors, such as income, items to pledge, current loan, and credit history, among others. Also Read: Diesel home delivery: BPCL starts doorstep fuel delivery on 75th Independence Day