State Bank of India (SBI) has reduced the processing fee on home loans. State Bank of India is offering 50%-100% off on home loans with concession. This concession is available on Regular Home Loan, Flexipay, NRI, Non Salaried, Privilege and Upon Home. The last date for processing fee and concession on home loan is till 31 August 2023
If you are a customer of India’s largest bank State Bank of India (SBI) and you are planning to take a home loan, then there is good news for you. Actually SBI has reduced the processing fee on home loan. State Bank of India is offering 50%-100% off on home loans with concession. This concession is available on Regular Home Loan, Flexipay, NRI, Non Salaried, Privilege and Upon Home. The last date for processing fees and concession on home loans is till 31 August 2023.
SBI is giving concession on processing fees
According to the official website of State Bank of India (SBI), there is a 50% discount on the card rate for all variants of HL and Top Up. Here you will have to pay a processing fee of minimum Rs 2,000 and maximum Rs 5,000 with GST. On the other hand, the discount on processing fee for takeover, resale and ready-to-move-in properties is 100 per cent. Note that there will be no discount on processing fee for Insta Home Top Up, Reverse Mortgage and EMD.
Regular Home Loan Processing Fee
The processing fee on SBI Home Loans without concession will be deducted at 0.35% of the loan amount plus applicable GST, which is Rs.2,000 plus GST. And the maximum processing fee is Rs 10,000 with GST. For CIBIL scores of 750-800 and above, the home loan interest rate is 9.15% without concession.
SBI has made the loan expensive
Explain that SBI has also made the loan rates expensive, giving a shock to crores of customers. Actually the bank has increased the MCLR rate. Due to which other loans including home loan of the bank have also become expensive. According to the information received from the bank’s website, the MCLR rate will now be between 8 percent and 8.75 percent. Let us inform that earlier in the month of March also, SBI had increased the MCLR rate.
