Good news for SBI customers! Get interest concession of 0.75% on Gold loan

SBI customers can now avail of Gold loans from across all channels of the bank at 7.5% per annum.

Mumbai: The country’s largest lender State Bank of India (SBI) has announced several offers for its retail customers to commemorate 75 years of Indian independence. These offers range from interest concession on Gold loan, special interest concession on Car loan, waiver on processing fees and additional interest on Term Deposits.

"As the country is celebrating Azadi Ka Amrit Mahotsav – which is a GOI’s initiative to commemorate 75 years of Indian independence – the country’s largest bank State Bank of India (SBI) is also geared up to provide an array of offerings on its retail loans and deposits to its customers," an SBI statement said.

For its Gold loan customers, the Bank is offering a reduction of 75bps in the interest rates. Customers can now avail of Gold loans from across all channels of the bank at 7.5% per annum. The bank has further waived off the processing fee for all the customers applying for a gold loan via YONO. The Bank has also announced a special interest concession of 50 bps to covid warriors i.e., ‘frontline healthcare workers’ applying for Personal loans, which soon will be available for application under Car and Gold loans as well.

After announcing processing fee waiver on Home loans, the Bank has announced a 100% waiver on processing fees for its Car loan customers across all channels. The customers can further enjoy the facility of up to 90% on-road financing for their Car loans.

SBI is offering a special interest concession of 25 bps for customers applying for a Car loan via YONO. The users of YONO SBI planning to bring home a new car can avail of the loan at an interest rate of as low as 7.5% per annum.

For its Personal & Pension loan customers, the Bank has announced a 100% waiver in processing fees across all channels.

For retail depositors, the Bank is introducing ‘Platinum Term Deposits’ to mark 75 years of independence. Customers can now get additional interest benefit up to 15 bps on Term Deposits for 75 days, 75 weeks, and 75 months tenors starting 15.08.2021 till 14.09.2021.