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Mumbai: On Monday, State Bank of India, India’s largest creditor, announced a number of offers to retail customers ahead of the holiday season.
The bank has announced a 100% exemption from mortgage customers’ processing fees on all channels. According to the release, customers will get up to 90% of their mortgage on-road financing facilities.
Lenders also offer 25 basis points (bps) of special interest concessions to customers applying for a mortgage through YONO.
YONO (You Only Need One App) is a lender’s mobile banking app.
According to the release, YONO users will be able to take out mortgages at interest rates starting at 7.5% per annum.
Banks are offering interest rate cuts of 75bps to customers who take out gold loans. They have access to gold loans at an annual rate of 7.5% from all channels of the bank.
The release also said that all customers applying for gold loans via YONO were exempt from fees.
For personal and annuity loan customers, the lender has announced a 100% exemption from fees on all channels.
A 50bps special interest concession has been announced for Covid warriors, the front-line healthcare professionals applying for personal loans. The offer will soon be available for mortgages and gold loans.
Lenders said they would introduce a “platinum term deposit” offer to retail depositors to commemorate their independence in 1975. With this offer, you can earn up to 15bps of additional interest benefits on your time deposits for 75 days, 75 weeks and 75 months from August 15, 2021 to September 14, 2021.
In its release, CS Setty, managing director of the bank (retail banking and digital banking), said, “We believe these services will help our customers save more on loans and at the same time add value to their celebrations. I am. ”
Last month, the bank announced a 100% exemption from mortgage fees until August 31, 2021. Mortgage rates start at 6.70%.
The bank has announced a 100% exemption from mortgage customers’ processing fees on all channels. According to the release, customers will get up to 90% of their mortgage on-road financing facilities.
Lenders also offer 25 basis points (bps) of special interest concessions to customers applying for a mortgage through YONO.
YONO (You Only Need One App) is a lender’s mobile banking app.
According to the release, YONO users will be able to take out mortgages at interest rates starting at 7.5% per annum.
Banks are offering interest rate cuts of 75bps to customers who take out gold loans. They have access to gold loans at an annual rate of 7.5% from all channels of the bank.
The release also said that all customers applying for gold loans via YONO were exempt from fees.
For personal and annuity loan customers, the lender has announced a 100% exemption from fees on all channels.
A 50bps special interest concession has been announced for Covid warriors, the front-line healthcare professionals applying for personal loans. The offer will soon be available for mortgages and gold loans.
Lenders said they would introduce a “platinum term deposit” offer to retail depositors to commemorate their independence in 1975. With this offer, you can earn up to 15bps of additional interest benefits on your time deposits for 75 days, 75 weeks and 75 months from August 15, 2021 to September 14, 2021.
In its release, CS Setty, managing director of the bank (retail banking and digital banking), said, “We believe these services will help our customers save more on loans and at the same time add value to their celebrations. I am. ”
Last month, the bank announced a 100% exemption from mortgage fees until August 31, 2021. Mortgage rates start at 6.70%.
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