SBI offers no mortgage processing fees on 75th Independence Day; Here’s how to apply

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SBI offers no mortgage processing fees on 75th Independence Day; Here’s how to apply

Highlights

  • State Bank of India customers can benefit from zero processing fees
  • SBI clients can benefit from an interest reduction of 5 BPS
  • SBI YONO users can benefit from an interest concession of 5 BPS via YONO

New Delhi: On the occasion of India’s 75th Independence Day, the State Bank of India (SBI) is offering zero processing fees on home loans. The public sector lender gave this information in a tweet in which he wrote: “This Independence Day, step into your dream home, with ZERO * processing fees on home loans. Apply now.”

Apart from that, women benefit from the very attractive discount facility on home loans from the largest lender in the country. Under the mortgage loan facility, women benefit from an interest reduction of 5% of the BPS. Apart from that, if you want to take out a home loan as part of SBI’s YONO service, you will still benefit from an interest reduction of 5% BPS. Note that interest must be paid at the rate of 6.70% on SBI real estate loans.

Here’s how to apply

  • As part of the Azadi Ka Amrit Mahotsav campaign on August 15th, one can avail this attractive home loan facility from SBI.
  • An individual can apply for a mortgage via the digital service of SBI YONO SBI
  • SBI also issued a number 7208933140. Borrowers can make a missed call on the number to apply for the home loan.

Note that the State Bank of India has previously waived the 100% processing fee on home loans as part of its Monsoon Dhamaka offer, which ends August 31, 2021. Typically, the lender charges 0.40% of the loan amount as a processing fee on home loans. This provides a great opportunity for new home loan buyers and existing home loan borrowers who have benefited from a high rate home loan.

SBI mortgage interest rates start at 6.70%. The real rate of a mortgage for a borrower will depend, among other things, on the amount of his loan, his employment profile and his credit rating.

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