State Bank of India (SBI) has introduced special offers for retail customers to captivate them during the Coronavirus pandemic. It has announced a 100% waiver in the processing fee for all customers applying for car, gold, and personal loans.
The lowest interest rate offered by them is 7.5% to customers opting for car loans. They will also receive a 100% on-road finance on selective models.
There would be a 100% waiver on home loans for home-buyers in approved projects. The bank is offering special concessions up to 10 bps on the interest rate for the customers. This will be based on their credit score and loan amount. If they apply for a home loan via YONO, home-buyers would have an opportunity to avail 5 bps interest concession.
Gold loan customers will now have a flexible repayment option for up to 36 months at the lowest interest rate of 7.5%. To strengthen the availability and affordability of credit to individuals in the times of the ongoing crisis, the bank is offering personal loans with lending rates as low as 9.6%.
Customers can also avail a pre-approved paperless personal loan on YONO. It is ready to offer its customers an in-principal approval on the car and gold loan application.
SBI customers can check their eligibility via SMS by typing PAPL to 567676.
