Ladies debtors will be qualified for concession of 0.05 portion on the loan rateState Bank of India (SBI) - the nation's largest loan provider today announced a 100 percent waiver on processing charges on mortgage in an unique limited period deal ending August 31, 2021.
The total waiver is a major decrease from the existing processing fee of 0.40 percent for home mortgage clients, according to a declaration shared by the count on Saturday, July 31.
The SBI home loan rates of interest start at 6.70 per cent.
There will be a concession of 5 bps (0.05 percentage) for home mortgage applied through the State Bank of India's YONO mobile app.
Women borrowers will be qualified for concession of 0.05 portion (five basis points/bps) on the loan rate, according to SBI.
(Likewise Read: State Bank Of India Branch Inaugurated At Rashtrapati Bhavan ) We believe this deal of processing fee waiver will assist in and encourage house buyers to take decision with ease, as rate of interest is at its historical low, said C.S.
Setty, MD (R&DB), State Bank of India.
Previously this year, the bank announced the reduction on its interest rates on home mortgage from 6.95 per cent to 6.70 per cent, and said that ladies debtors are qualified to receive a special concession of 5 basis points.
(Also Read: State Bank Of India Cuts Home Loan Interest Rates To 6.70% )Recently, SBI opened a new branch within the premises of the Rashtrapati Bhavan - the first branch of the state-owned lending institution in the President's Estate.
President Ram Nath Kovind who inaugurated the opening of the branch in the presence of First Lady Savita Kovind and Finance Minister Nirmala Sitharaman - was the first customer of the branch.On Friday, July 30, shares of State Bank of India settled 2.28 percent lower at Rs 431.70 apiece on the BSE.