SBI bumper festive offers for customers –Here’s all you want to know


New Delhi: India’s largest lender State Bank of India has rolled out bumper festive offers for its customers keeping in mind the upcoming festive season. SBI’s slew of festive offers are meant for its retail borrowers. This includes 100 per cent waiver of processing fee for all customers applying for car, gold, and personal loans through Yono.

Yono (You Only Need One App) is the mobile banking app of the lender.

SBI has also completely waived processing fees on home loans for homebuyers in approved projects. SBI is giving concessions up to 10 basis points (bps) on the interest rate for the customers based on their credit score and home loan amount, it said. Homebuyers can also avail 5 bps interest concession if they apply through Yono.

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Car loan borrowers, can avail lowest interest rate starting from 7.5 per cent. They will also get 100 per cent on-road finance on select models.

SBI is providing gold loans at an interest rate of 7.5 per cent, with flexible repayment options for up to 36 months. Customers can take personal loans at a lending rate as low as 9.6 per cent, the bank said.

The bank said Yono is offering customers in-principal approval on the car and gold loan applications. Customers can also avail a pre-approved paperless personal loan on Yono at the comfort of their homes.

The number of SBI customers using internet banking facilities is about 76 million and mobile banking services stand a little more than 17 million. Yono, which has 26 million registered users, witnesses 5.5 million logins per day along with over 4,000 daily disbursals of personal loans, 16,000 Yono Krishi Agri Gold loans.

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