To enlarge retail loans and online business, lending major State Bank of India (SBI) has announced a 100 per cent waiver in the processing fee f or “Car, Gold, and Personal loans” availed through its integrated digital banking platform – YONO.
“The bank is offering the lowest interest rate starting from 7.5 per cent to customers opting for the car loan. They will also get 100 per cent o n-road finance on select models,” SBI said in a statement on Monday.
“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 per cent.”
According to the lending major, digital banking has increasingly gained momentum especially in the current scenario.
Besides, the bank gave a complete waiver on processing fees on home loans in approved projects.