SBI announces processing fee waiver on retail loans

Paterniano Del Favero
Agosto 21, 2017

To grab more market share in the home loan market and reward good credit behaviour, Axis Bank has launched a new home loan product called Shubh Aarambh. This EMI waiver offer is applicable on home loans up to Rs 30 Lakh.

As part of its festive season offer, State Bank of India on Monday announced waiver of up to 100 per cent processing fee on vehicle loans, personal gold loans and personal loans. This is part of a "festival bonanza" programme announced by the bank.

Till now, the bank was charging 0.5% of the loan amount plus GST on cetrified pre-owned vehicle loans, 2% of loan amount plus GST on Super bike loan and 1.5% of loan amount plus GST on two-wheeler loan.

Separately, SBI has also waived 50 per cent of the processing fee on personal gold loans till October 31, 2017.

This development comes weeks after the bank slashed the interest rate for its savings accounts.

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