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SBI waives off up to 100% processing fee on personal and other loans

  • State Bank of India announced waiver of up to 100 per cent processing fee on car, gold and personal loans
  • The public sector lender had previously waived off processing fee on the takeover of home loans
  • The bank has waived the entire processing fee on car loans till December 31, 2017
SBI waives off up to 100 per cent processing fee on various loans

State Bank of India today, August 21, announced waiver of up to 100 per cent processing fee on car, gold and personal loans, albeit for limited periods. 

The public sector lender had previously waived off processing fee on the takeover of home loans. This is in addition to the existing waiver on processing fee on takeover of home loans.

"To bring more smiles to customers and their dear ones, bank has waived 100 per cent processing fee on car loans till December 31, 2017," said the bank.

The bank has waived the entire processing fee on car loans till December 31, 2017 and half of the processing fee on personal gold loans till October 31, 2017. Customers can also avail 50 per cent waiver on processing fee on Xpress Credit, a personal loan offering by the bank, till September 30, 2017, reported the Business Standard.

SBI has over 23,000 branches in the country over 59,000 ATMs. SBI's share closed at Rs 274.65 a piece, down 1.44 per cent, on BSE. SBI's retail advances grew at 13.31 per cent year-on-year from Rs 4,32,455 crore as on June 2016 to Rs 4,90,005 crore as on June 2017.  The bank’s home loans were Rs 2,48,709 crore in June 2016 as opposed to Rs 2,83,331 crore in the year-ago quarter, showing a year-on-year growth of 13.92 per cent.

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