Sunday, September 15, 2019
News

SBI announces loans at cheaper rates during festival season

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | August 20, 2019 5:41:24 PM IST
State Bank of India (SBI) on Tuesday announced a slew of offers including cheaper rates for home and auto loan borrowers to cash in on the upcoming festival season.

Customers can avail the cheaper loans with added benefits such as waiver in processing fees, pre-approved digital loans, and loans with no escalation in interest rates across various categories.

"SBI has waived processing fees on car loans during the festival season. The bank is offering lowest interest rate starting from 8.7 per cent to customers opting for a car loan with no escalation in interest," said the bank in a statement.

For customers applying for a car loan online through the bank's digital platform like YONO or website, a 25 basis point concession on the interest rate can be availed. The salaried customers can also avail the loan up to 90 per cent of the car's on-road price.

Recently, the SBI reduced the marginal cost of funds-based lending rate (MCLR) by 15 basis points (bps) due to which overall home loan interest rate is now reduced by 35 bps since April 2019.

The country's largest lender offers home loan with an interest rate of 8.05 per cent as repo rate-linked home loan. This rate will be applicable to all existing and new loan from September 1. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
INOX launches third multiplex in Punjab...
Attack at Aramco, trade optimism to boos...
Aadhaar compulsory for new dealers from ...
India to host Dubai-like mega shopping f...
For FM, economic revival has already sta...
'Rs 200 cr minimum capital needed for sm...
More...
 
INDIA WORLD ASIA
NRC: Assam publishes list of included pe...
Delhi BJP chief urges Kejriwal to recons...
Haryana CM Khattar meets Amit Shah in De...
Hindu Sena demands renaming of Babar Roa...
Besieged Sharad Pawar to embark on poll ...
Muslims plan march in support of Ravidas...
More...    
 
 Top Stories
Considering mutual defence treaty w... 
Saudi-led coalition launches probe ... 
Catalan politician calls for improv... 
JDU criticises Rajasthan BJP chief ... 
What would've happened if Chinmayan... 
Toilet seat made of 18-carat gold s... 
Delhi: Over 8,000 traffic challan c... 
Maharashtra: 2 Naxals killed in pol...