SBI announces 100% waiver on home loan processing fee

Public sector lender on Saturday announced a 100% waiver on processing fees on home loans. This is a significant reduction from the existing processing fees of 0.40%.

The lender is also offering a 5 basis points concession on interest rates for a home loan applied through YONO App, under its Monsoon Dhamaka offer. The interest rates applicable on home loans start at 6.7%. The Monsoon Dhamaka Offer is for a limited period ending on 31.08.2021.

“We are pleased to announce the Monsoon Dhamaka offer for our prospective home loan customers,” said C.S. Setty, MD, SBI. “We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as interest rate is at its historic low. A home loan customer stands to gain substantially through this limited period offer.”

The banker added that this was the best time to buy a house, considering the level of interest rates at present.


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