SBI waives processing fee on car, personal loans till December
The country's largest lender levied 0.35 percent of loan amount plus applicable service tax as processing fees. The minimum amount was Rs 2,000 plus applicable service tax. The maximum amount of processing fees was Rs 10,000 plus service tax. In case of auto loans, the processing fees was nil for certain schemes.
- Aug 22, 2017,
- Updated Aug 22, 2017 10:54 AM IST
State Bank of India (SBI) has announced waiver of up to 100 per cent processing fee on car, gold and personal loans ahead of the festive season.
The country's largest lender levied 0.35 percent of loan amount plus applicable service tax as processing fees.
The minimum amount was Rs 2,000 plus applicable service tax.
The maximum amount of processing fees was Rs 10,000 plus service tax. In case of auto loans, the processing fees was nil for certain schemes.
The minimum and maximum fees for others was Rs 450 and Rs 9,100, respectively.
This is in addition to the existing waiver on processing fee on takeover of home loans, SBI said in a release.
"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," it said. Country's largest lender further said it has also waived 50 per cent of the processing fee on personal gold loans till October 31, 2017.
Country's largest private sector bank by consolidated assets, ICICI Bank, announced the launch of instant credit cards on August 9, 2017. Available round-the-clock and on all days, a customer can get a credit card instantly with a credit limit of up to Rs four lakh based on pre-checked bureau scores.
In July, state-owned Punjab National Bank waived processing fee and documentation charges for new housing and car loans till September-end. The three-month 'monsoon bonanza' offer would end in September 30.
State Bank of India (SBI) has announced waiver of up to 100 per cent processing fee on car, gold and personal loans ahead of the festive season.
The country's largest lender levied 0.35 percent of loan amount plus applicable service tax as processing fees.
The minimum amount was Rs 2,000 plus applicable service tax.
The maximum amount of processing fees was Rs 10,000 plus service tax. In case of auto loans, the processing fees was nil for certain schemes.
The minimum and maximum fees for others was Rs 450 and Rs 9,100, respectively.
This is in addition to the existing waiver on processing fee on takeover of home loans, SBI said in a release.
"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," it said. Country's largest lender further said it has also waived 50 per cent of the processing fee on personal gold loans till October 31, 2017.
Country's largest private sector bank by consolidated assets, ICICI Bank, announced the launch of instant credit cards on August 9, 2017. Available round-the-clock and on all days, a customer can get a credit card instantly with a credit limit of up to Rs four lakh based on pre-checked bureau scores.
In July, state-owned Punjab National Bank waived processing fee and documentation charges for new housing and car loans till September-end. The three-month 'monsoon bonanza' offer would end in September 30.