Mumbai: State Bank of India (SBI), the country’s largest bank, has made a festive offering to customers of its digital banking platform YONO. Under this, the bank will give a 100 percent discount on processing fees to car, gold, and personal loan applicants through YONO in the special festive season. YONO (You Need Only One) is the bank’s mobile banking app. The bank said in a release that the bank is also giving a full rebate on the processing fee of the housing loan to the customers who buy housing in recognized residential projects. Apart from this, it is also offering customers a discount of up to 0.10 percent in the interest rate based on the amount of their home loan and their loan credit.
At the same time, customers applying for a home loan from YONO can also avail an additional discount of 0.05 percent on the interest rate. The bank said that it is providing loans starting from the lowest interest rate of 7.5 percent to car loan customers. At the same time, on select models, they are also offering loans on vehicle tax including on-road price. SBI’s C.S. Shetty said that the economy is improving slowly. We expect the expenses will increase during the festive season coming from the customers. At the same time, to make their festivals good, SBI has also put forward a helping hand according to their financial needs.
