SBI Loan Offers: State Bank of India, or SBI, has announced exciting loan offers for retail customers as the festival season approaches. With interest rates now at their lowest levels in the wake of the pandemic, saving more is only in your best interest. Therefore, it is worthwhile to consider borrowing from SBI for meeting financial goals or investment in any asset.
Here are the latest loan offers from SBI that can be availed of
SBI Loan Offers
100% Processing Fee Waiver
SBI offers a 100% processing fee waiver on some loans. Car Loans, Gold Loans, and Personal Loans get processed absolutely free once applied for through the YONO app.
This benefit has been accorded by SBI to Home Loans, both online and offline applications apart from saving 5 bps additionally through the YONO app.
This is a prime opportunity to save on the additional overhead costs typical of charges associated with loan processing, making it even cheaper to gain access to the loan.
The SBI car loan starts from 7.5% p.a.
If you are thinking of buying a new car, do not forget to check out SBI’s Car Loan offer. The interest rate offered for Car Loans starts at 7.5% p.a., which is one of the lowest rates available in the market. Moreover, SBI offers 100% on-road finance for a particular set of car models where the entire cost including all the expenses by the road for your car will be taken care of with no down payment.
SBI Personal Loan: 9.60% pa onwards. Do you really need that extra money for personal expenses or some big-day life event? Then here is a great option- courtesy SBI Personal Loans. The personal loan starts from as low as 9.60% p.a. Apply through the YONO app, and their processing fee shall be completely waived off. Generally, the maximum amount charged as a processing fee goes up to 1.5% of the loan amount, but if you are applying through the app, then this is much lesser.
Special Gold Loan Offer: Flexible Repayment and Low Interest Rates
The Gold Loan customers of SBI can avail the Special offers of SBI. Besides 90% Loan-to-Value on Gold Loans, SBI offers the Gold Loans repayment options up to 36 months. It also charges the lowest rate of interest at 7.5% against the Gold Loans.
It presents a good opportunity to secure a low-cost loan during this cash-starved period, particularly when many people want to liquidate their gold assets to alleviate this financial pressure in the shortest time possible due to the pandemic’s after-effects.
Pre-approved Personal Loans on YONO App
Find a quick and hassle-free loan application process. Your pre-approved, paperless Personal Loan offers are just a few clicks away on the YONO app. Now, get instant in-principle approval for Personal Loans, Car Loans, and Gold Loans right within the app itself.
Check your eligibility for a pre-approved personal loan by sending an SMS: PAPL to 567676.
Conclusion
Conclusion With the introduction of these time-sensitive offers, SBI is making it easier and relatively cheaper for its customers to satisfy their financial needs-be it buying a new car, funding a personal project or getting any loan against your gold assets. Each one of the above loans comes with waivers on processing fees and flexible repayment options thereby emerging as a great window of opportunity for anybody borrowing in the festival season. But if you want to enjoy these fantastic offers, don’t wait—apply through the YONO app or in any SBI branch near you today!
1. What types of loans are included in SBI’s festival season offers?
SBI is offering special deals on Personal Loans, Car Loans, Gold Loans, and Home Loans during the festival season. These loans come with benefits like processing fee waivers and low interest rates.
2. How can I avail of the 100% processing fee waiver?
To avail of the 100% processing fee waiver, you need to apply for a Car Loan, Gold Loan, or Personal Loan through the YONO app. For Home Loans, the processing fee is waived for both online and offline applications, with an additional benefit through the YONO app.
3. What is the starting interest rate for Car Loans from SBI?
The interest rate for Car Loans from SBI starts at 7.5% p.a.. This is one of the lowest rates available in the market.
4. Can I finance the full on-road cost of the car with an SBI Car Loan?
Yes, SBI is offering 100% on-road financing for select car models. This means you can finance the entire cost of the car, including on-road expenses, with no down payment required.
5. What is the starting interest rate for Personal Loans from SBI?
The interest rate for Personal Loans from SBI starts at 9.60% p.a.. Additionally, if you apply through the YONO app, you can enjoy a waiver of the processing fee, which is usually up to 1.5% of the loan amount.
6. How can I check if I am eligible for a Pre-Approved Personal Loan?
You can check your eligibility for a pre-approved Personal Loan through the YONO app by clicking a few buttons. Alternatively, send an SMS: PAPL <space> <last 4 digits of your SBI account number> to 567676 to know your eligibility.
7. What is the interest rate for Gold Loans from SBI?
SBI is offering Gold Loans starting at 7.5% p.a. The Loan-to-Value (LTV) ratio for Gold Loans is 90%, and flexible repayment options of up to 36 months are available.
8. Can I apply for a loan offline or only online?
You can apply for loans both online and offline. However, applying through the YONO app gives you additional benefits like the processing fee waiver and extra savings on certain loan types.
9. What is the maximum repayment tenure for a Gold Loan?
SBI offers flexible repayment terms of up to 36 months for Gold Loans, making it easier for customers to manage their finances.
10. How long are these special loan offers available?
These special loan offers are available during the festival season, so it’s recommended to apply soon to take advantage of the limited-time benefits.
Braj Verma is a resident of Rajgarh in Madhya Pradesh and is a content writer and freelancer by profession. He has a degree in Political Science from Barkatullah University, Bhopal. He has expertise in subjects like credit cards, banking, loan, insurance, political analysis and digital marketing.