SBI waives-off processing fees on home loans till August 31

SBI waives-off processing fees on home loans till August 31
SBI waives-off processing fees on home loans till August 31

SBI waives-off processing fees on home loans till August 31


·         Processing Fees waived-off for home loans

·         5 bps concession for a home loan applied through YONO App

·         Women borrowers are eligible for a 5 bps concession

·         Home Loans start at just 6.70%.


Chennai - July 31, 2021: The country's largest lender, State Bank of India (SBI), announced Monsoon Dhamaka Offer with a 100% waiver on processing fees on home loans. This is a significant reduction from the existing processing fees of 0.40%. A home loan customer stands to gain substantially through this limited period offer.


SBI has always been at the forefront of reviving consumer sentiments by bringing out various offers from time to time. There could not be a better time to buy a house, considering SBI Home Loan interest rates start at just 6.70%.


The Monsoon Dhamaka Offer is for a limited period ending on 31.08.2021.


C.S. Setty, MD (R&DB), SBI said "We are pleased to announce the Monsoon Dhamaka offer for our prospective home loan customers. We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as interest rate is at its historic low. We strive to be a banker to every Indian and thereby, be partners in nation building."



About State Bank of India:

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on March 31, 2021, the bank has a deposit base of nearly Rs. 37 lakh crore with CASA ratio of over 46% and advances of more than Rs. 25 lakh crore. Among All Scheduled Commercial Banks (ASCB) SBI commands a market share of 34.51% in home loans. SBI has the largest network of 22,219 branches and 62,671 ATM / CDM in India with BC outlets close to 72,000. The number of customers using internet banking and mobile banking stand roughly at 89 million and 20 million respectively. The integrated digital and lifestyle platform by SBI - YONO has over 37 million registered users, which witnesses 9 million logins per day. Accelerating the digital agenda, 2 million accounts have been opened through YONO in the quarter ended March 2021. In terms of digital lending, the bank disbursed personal loans of more than Rs. 5300 crore through the YONO mobile app in the same quarter. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.