A special announcement has been made for retail customers on loan against HDFC Bank Securities. Under this, the processing fee will be flat Rs 750. Earlier, SBI had given various discounts to retail customers.
To woo the customers ahead of the festive season, the banking sector is offering various offers to the retail borrowers. On Monday, SBI had announced special discounts in processing fees and interest rates for car loans, gold loans, personal loans. Festive offer has been announced by HDFC today.Also Read: 50% off on OnePlus 9, see where the phone is getting so cheap
Under this offer, the processing fee for loan against HDFC Bank Securities i.e. Loan Against Securities has been reduced to flat Rs 750. The interest rate for such loans will be 9.90 per cent. This offer is available till 30th September only. Under Loan Against Securities, the customer can avail loan against his holding shares, mutual funds and other securities.
The minimum loan value should be Rs 2 lakh under Loan Against Securities. This includes Equity Shares, Mutual Funds, LIC Policy, National Savings Certificate, Gold Deposit Certificate, Kisan Vikas Patra, NABARD Bhavishya Nirman Bond and Non-Convertible Debentures ie NCDs. Loans can be taken against these documents.Also Read: SBI Amazing Offers: Up to 0.75% discount in loan interest rates, extra interest on FD
If you apply online for this loan, then the loan amount will be paid as soon as possible. If you want to avail loan against your holding share then login to HDFC net banking. Here the option of demat account opens. There you have to choose the option of Loan Against Securities. Your application is verified through OTP. Pledge your shares online with the help of NSDL and CSDL. After this the loan will be disbursed to you.
On Monday, SBI said that no processing fee will be charged from customers taking car loans. Customers will get a loan of up to 90 percent of the total cost (on-road) for the car. Apart from this, the bank will give a special interest rebate of 0.25 percent to the customers applying through YONO app. The car loan will be available to the customers of YONO at an initial rate of 7.5 per cent per annum, the statement said. Apart from this, the bank is offering 0.75 percent less interest to its gold loan customers. Customers will be able to take loans from all channels of the bank at an annual interest rate of 7.5 percent. The statement said that customers applying for gold loan through YONO will not be charged processing fee.Also Read: SBI launches new website for pension account holders, you will get many benefits
SBI has also announced complete waiver of processing charges across all channels for customers taking personal and pension loans. A special discount of 0.50 percent will be given on personal loans to people fighting the battle against the Kovid-19 epidemic, such as healthcare workers. This offer will soon be applicable for car and gold loans as well.
