Personal loans

Diwali 2021: SBI offers these benefits on auto, gold and personal loans – Details here

To make Diwali more special, State Bank of India (SBI) has rolled out several offers for its customers. SBI, the nation’s largest public sector lender, offers a number of benefits on auto loans, gold loans, and personal loans.

Taking to their official Twitter account, SBI tweeted, “Celebrate the Festival of Lights with exciting offers on SBI Car Loan, Personal Loan and Gold Loan.”

Watch the Zee Business live stream below:

According to the information provided by the bank, SBI customers may note that the bank does not offer any processing fees on these loans. In addition, the SBI offers a personal loan starting at 9.6% per annum, a car loan starting at 7.25% per annum, and a gold loan starting at 7.50% per annum.

SBI is also offering home loans this festive season with no processing fees. In addition, SBI offers home loans linked to credit rating at only 6.70%, regardless of the loan amount. Previously, a borrower with a loan above Rs 75 lakh had to pay an interest rate of 7.15%. Now, with the introduction of festive offers, a borrower can now avail a home loan for any amount at a rate as low as 6.70%.

It should also be noted that the offer results in a saving of 45 basis points, which translates into a huge interest saving of over Rs 8 lakh, for a loan of Rs 75 lakh with a tenor of 30 year. The interest rate applicable to a non-salaried borrower was 15 basis points higher than the interest rate applicable to a salaried borrower. SBI has removed this distinction between a salaried borrower and a non-salaried borrower.

To avail the benefits and offers, SBI customers can apply for the loans through the SBI YONO app. They can also log in to sbiyono.sbi. Alos, one can log on to the official website of SBI at sbi.co.in for more details about the process and schematics.