TIL Desk/Business/New Delhi/ State Bank of India (SBI), the country”s largest lender, on Tuesday announced processing fee waiver on car loans during the upcoming festival season in a bid to boost car sales. The bank is also offering the lowest interest rate starting 8.70 per cent on car loans, with no escalation in interest.
“The SBI has waived processing fees on car loans during the festival season. The bank is offering the lowest interest rate starting 8.70 per cent to customers opting for a car loan, with no escalation in interest. For customers applying for a car loan online through digital platforms like YONO/ the bank”s website, it is providing 25 bps concession on interest rate. Salaried customers can also avail loan upto 90 per cent of the car”s on-road price,” the lender said in a statement.
To bring more smiles, the SBI has also announced personal loan upto Rs 20 lakh at the lowest interest rate starting from 10.75 per cent with the longest re-payment tenure of 6 years, reducing the EMI burden on customers. Additionally, salary account customers can avail pre-approved digital loans upto Rs 5 lakh through YONO (the SBI”s integrated digital banking app) in four clicks, said the statement.
