SBI latest offers: Get new benefits on Home, Personal and car loan ahead of festive season

State Bank of India (SBI) has announced the roll out of multitude of new benefits ahead of the upcoming festival season. The new benefits include offer on its home loan, car loan, gold loan and even personal loan.

Interested customers can check out the details of these offers by visiting the official SBI website.

SBI announced the offers through a tweet on Wednesday that read: “Start the festive celebrations with special offers on Car Loan, Gold Loan and Personal Loan from SBI. Get started today! Apply Now: sbiyono.sbi.”

Check out the benefits you can get on Car Loan, Gold Loan and Personal Loan from SBI

As per the new offerings, SBI is offering a car loan at Rs 1,530 per lakh. The bank is offering gold loan to customers at 7.5 per cent interest per annum. While customers can get a personal loan at Rs 1,832 per lakh.

SBI customers can apply for these loans through the official SBI YONO app as well, as through the official website.

The bank had also released a tweet earlier that talked about the home loan benefits that it would be offering this festive season. Now, it has reminded customers of this offering again through its official Twitter handle.

The notification which was issued earlier read as, “Kick-start your celebrations this festive season with SBI Home Loan and enjoy the exciting benefits on YONO SBI. Know More & Apply Now: homeloans.sbi.”

Earlier this month, SBI had also announced to nullify any and all processing fees for its home loan as a festival season offerings. In addition the lender als0 revised the interest rate of home loan and cut it down to 6.7 per cent for any loan amount. This step was taken to attract more customers towards participating in the loan offers ahead of the festive season.

With the festival season offer, borrowers can benefit from an interest rate of just 6.70 per cent. This offer results in the customer saving around more than Rs 8 lakh for a Rs 75 lakh loan that carries a 30-year tenure. Earlier, borrowers that availed of a loan greater than Rs 75 lakh had to pay an interest rate of 7.15 per cent.

On the other end of the spectrum where you have the non-salaried borrowers, the interest rate applicable for them was 15 bps higher than the interest rate applicable for the salaried customers who were taking out a home loan. In light of this, SBI had also waived the occupation-linked interest premium which added to the savings one could benefit from.

SBI is not the only bank that has announced festive season offers on load, other banking institutions had also revised their rates of interest. For example, Kotak Mahindra Bank had announced revised rates that took effect from September 10, 2021, onwards. The revised interest rate stands at 6.50 per cent per annum on its Fresh Home Loan and Balance Transfer Loan.

Which is one of the cheapest home loan rates in the country as compared to other banks.