SBI Announces Special Offers on Auto Loans, Gold; check details
The State Bank of India (SBI) on Monday announced several offers for its retail clients. As part of Azadi ka Mahotsav, the government’s initiative to commemorate 75 years of independence, the bank is offering special offers on its loans and deposits to individuals.
After offering zero processing fees on home loans, the bank announced a full processing fee waiver for its auto credit customers across all channels. In addition, customers can avail the on-road financing facility of up to 90 percent for auto loans.
For retail clients, SBI introduces ‘Platinum Term Deposits’ to mark 75 years of independence, where clients can earn additional interest of up to 15bp on term deposits for 75 days, 75 weeks and 75 months from August 15 until September 14 this year.
The bank also offers a special interest concession of 25 basis points for customers who apply for a car loan through the YONO app. Users can get the loan at an interest rate as low as 7.5% per annum using the app, SBI said in a press release.
For its gold lending clients, the bank is offering a 75bp interest rate cut. Customers can avail gold loans across all channels of the bank at 7.5% per annum. The bank has also removed the processing fee for all customers requesting a gold loan through the YONO app.
SBI also announced a 100% exemption from processing fees across all channels for its personal loan and retirement clients.
Additionally, the bank is offering a special interest concession of 50 basis points to Covid warriors such as frontline healthcare workers applying for personal loans. This facility will soon be available for car and gold loans as well.
“We are pleased to announce several offers for all of our retail customers ahead of the holiday season. We believe these offers will help clients save more on their loans while adding value to their festive celebrations, ”said CS Setty, MD (Retail & Digital Banking), SBI.
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