SBI announces bumper offer on car, gold, personal and home loans –Check out 7 key highlights of the offer

SBI announced a slew of festive offers for its retail borrowers.

New Delhi: India's largest lender State Bank of India (SBI) has announced bumper offer for its retail customers. 

The bank has announced a 100% waiver in the processing fee for all customers applying for Car, Gold, and Personal loan through YONO. SBI is offering the lowest interest rate starting from 7.5% to customers opting for the car loan. They will also get 100% on-road finance on select models.

SBI has announced special festive offers on home loans for home buyers. There would be a complete waiver on processing fees on home loans for homebuyers in approved projects. The bank is also providing special concessions up to 10bps on the interest rate for the customers based on their credit score and loan amount. Additionally, homebuyers can avail 5bps interest concession if they apply for a home loan via YONO (YOU ONLY NEED ONE APP).

There’s good news for Gold loan customers as well, as they now have flexible repayment options for up to 36 months at the lowest interest of 7.5%. To enhance the availability and affordability of credit to individuals in the times of the current crisis, the bank is offering Personal loans with lending rates as low as 9.6%.

These are 7 key highlights of SBI festive offer

• Processing fee on Car, Gold, Personal and Home Loans in approved projects waived off.
  
• Credit Score based concessions up to 10bps for Home loans above 30.00 lakh to 1 crore.
  
• Homebuyers to get 5bps interest concession if applied through YONO.
  
• Lowest interest rates on Car and Personal loan starting at 7.5% and 9.6% respectively.
  
• Lowest interest rates on gold loan at 7.5%.
  
• Instant in-principle approval of Home, Car, and Gold loans through YONO.
  
• Flexible repayment options of up to 3 years for Gold loan customers.

With digital banking increasingly gaining momentum especially in the current scenario, SBI’s flagship banking and lifestyle platform YONO is all set to provide an extra layer of convenience to its customers by offering them in-principal approval on the Car and Gold loan application. SBI customers can also avail a pre-approved paperless personal loan on YONO at the comfort of their homes in just 4 clicks. They can simply check their eligibility via SMS by typing PAPL <space> <last 4 digits of SBI a/c no.> to 567676.