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SBI Announces Celebratory Delights for Retail Customers

In Business
October 05, 2020

To bring in cheer and spread festive joy amid the pandemic, nation’s largest lender State Bank of India (SBI) presents a slew of special offers for its retail customers. Bank has announced 100% waiver in processing fee for all customers applying for Car, Gold, and Personal loan through YONO. The bank is offering lowest interest rate starting from 7.5% to customers opting for 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 complete waiver on processing fee on home loans for home buyers in approved projects. Bank is also providing special concessions upto 10bps on interest rate for the customers based on their credit score and loan amount. Additionally home buyers can avail 5bps interest concession if they apply for 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 up to 36 months at lowest interest of 7.5%. To enhance the
availability and affordability of credit to individuals in the times of the current crisis, bank is offering Personal loans with lending rates as low as 9.6%.

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.

CS Setty, MD (Retail & Digital Banking), SBI said, “It is SBI’s constant endeavour to work towards benefits of its valuable customers by offering them products and services suiting their needs and requirements and at the same time going easy on their wallets. With the economy recovering gradually, we hope to see a boost in consumer spends and at the same time ensure SBI’s helping hand to all those in addressing their financial needs so as to have a pleasant festive season.”