The State Bank of India (SBI) on Saturday announced a Monsoon Dhamaka offer with 100% exemption from mortgage processing fees. This is a significant reduction from the existing processing fee of 0.4 percent.
The Monsoon Dhamaka offer is for a limited period ending August 31st. A home loan client has everything to gain with this limited time offer. The public lender said the offer would help rekindle consumer sentiment.
SBI also announced a concession of 5 basis points (0.05%) for home loans applied through YONO App as part of the offer. In addition, female borrowers will be eligible for a 0.05% (5 basis points / bp) concession on the loan rate.
“We are pleased to announce the Monsoon Dhamaka offer for our potential home loan clients. We believe this processing fee waiver offer will make it easier and more encouraging for homebuyers to make a decision with ease, as the interest rate is at an all-time low. We strive to be a banker to every Indian and therefore be a partner in nation building, ”said CS Setty, MD (Retail & Digital Banking), SBI.
SBI has always been at the forefront by punctually offering various offers. It is the largest commercial bank in terms of assets, deposits, branches, customers and employees, and is also the largest mortgage lender in the country.
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