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SBI waives processing fees on loans via Yono app, offers home loan interest rate discount

The Trade Book 13 Sep 28

Reuters
SBI has announced concessions for those looking to avail car loans as well.

The State Bank of India (SBI) has announced a 100 per cent waiver in its processing fee for all customers applying for car, gold, and personal loans through its YONO platform.

According to the press release issued by the bank, it has announced various 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 10 bps on the interest rate for the customers based on their credit score and loan amount. Additionally, homebuyers can avail 5 bps interest concession if they apply for a home loan via YONO,” the bank stated.

For gold loan customers, will get flexible repayment options for up to 36 months at the lowest interest of 7.5 per cent. “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%,” the SBI’s press release stated.

The bank has announced concessions for those looking to avail car loans as well. “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,” the bank announced.

How to apply via YONO app

According to the SBI press release, it will offer in-principal approvals on car and gold loan applications for those borrowers applying via its YONO app. One can also get paperless, pre-approved personal loans and Insta Home Top-up Loans through the YONO platform.

Here’s how SBI customers can their eligibility: Send this SMS to 567676: PAPL