<p>With an eye on getting business this festive season amid a slowdown in demand, the country's largest public-sector lender State Bank of India on Tuesday offered discounts on interest rates on home, car and personal loans, and waived processing fee for car loans to attract retail customers.</p>.<p>“Customers can avail attractive and cheaper loans with added benefits –waiver in processing fees, pre-approved digital loans, and loans with no escalation in interest rates – spread across various categories,” a bank official said.</p>.<p>The bank is offering the lowest interest rate starting from 8.70% to customers opting for car loans, with no escalation in interest.</p>.<p>For customers applying for a car loan online through SBIs digital platform like YONO/ bank’s website, the SBI is providing 25 bps concession on the interest rate. Salaried customers can also avail the loan up to 90% of the car’s on-road price.</p>.<p>SBI is also offering personal loans up to Rs 20 lakh at an interest rate starting from 10.75% with a re-payment tenure of 6 years, reducing EMI burden on the customers.</p>.<p>Additionally, salary account customers can avail pre-approved digital loans up to Rs 5 lakh through YONO easily.</p>.<p>SBI has also come up with an education loan at an attractive rate of interest starting from 8.25% for a loan up to Rs 50 lakh and up to Rs.1.50 crore for studies in India and abroad respectively.</p>.<p>“Customers will be offered the longest re-payment tenure of 15 years which effectively will reduce their EMI burden,” the official said.</p>.<p>Recently, SBI has reduced MCLR by 15 bps due to which overall home loan interest rate is now reduced by 35 bps since April 2019.</p>.<p>Currently, the bank offers the cheapest home loan with an interest rate of 8.05%. The loans are repo rate-linked and the rate will be applicable to all existing and new loans from 1st September.</p>
<p>With an eye on getting business this festive season amid a slowdown in demand, the country's largest public-sector lender State Bank of India on Tuesday offered discounts on interest rates on home, car and personal loans, and waived processing fee for car loans to attract retail customers.</p>.<p>“Customers can avail attractive and cheaper loans with added benefits –waiver in processing fees, pre-approved digital loans, and loans with no escalation in interest rates – spread across various categories,” a bank official said.</p>.<p>The bank is offering the lowest interest rate starting from 8.70% to customers opting for car loans, with no escalation in interest.</p>.<p>For customers applying for a car loan online through SBIs digital platform like YONO/ bank’s website, the SBI is providing 25 bps concession on the interest rate. Salaried customers can also avail the loan up to 90% of the car’s on-road price.</p>.<p>SBI is also offering personal loans up to Rs 20 lakh at an interest rate starting from 10.75% with a re-payment tenure of 6 years, reducing EMI burden on the customers.</p>.<p>Additionally, salary account customers can avail pre-approved digital loans up to Rs 5 lakh through YONO easily.</p>.<p>SBI has also come up with an education loan at an attractive rate of interest starting from 8.25% for a loan up to Rs 50 lakh and up to Rs.1.50 crore for studies in India and abroad respectively.</p>.<p>“Customers will be offered the longest re-payment tenure of 15 years which effectively will reduce their EMI burden,” the official said.</p>.<p>Recently, SBI has reduced MCLR by 15 bps due to which overall home loan interest rate is now reduced by 35 bps since April 2019.</p>.<p>Currently, the bank offers the cheapest home loan with an interest rate of 8.05%. The loans are repo rate-linked and the rate will be applicable to all existing and new loans from 1st September.</p>
