SBI waives of loan processing fee on Yono app

Country’s largest lender State Bank of India has waived off the loan processing fee on it’s neobanking platform YONO

The public lender has waived processing fees on car, gold, personal and home loans in approved projects. It has come out with credit score based concessions up to 10 bps for home loans and above Rs 30 lakhs to Rs 1 crore. Further Homebuyers to get 5 bps interest concession if applied through YONO (You Only Need One, SBI’s flagship app for banking services).

Further it is offering Lowest interest rates on Car and Personal loan starting at 7.5% and 9.6% respectively and Lowest interest rates on gold loan at 7.5%.

The largest lender has also gone ahead with Instant in-principle approval of Home, Car, and Gold loans through YONO and Flexible repayment options of up to 3 years for Gold loan customers

All of this can be availed paperless pre-approved personal loans and insta home top-up loans through YONO in a few clicks.

CS Setty, MD – Retail and Digital Banking at SBI said, “It is SBI’s constant endeavor to work towards benefits of its valuable customers by offering them products and services suiting their needs and requirements and at the same time going easy on their wallets. With the economy recovering gradually, we hope to see a boost in consumer spends and at the same time ensure SBI’s helping hand to all those in addressing their financial needs to have a pleasant festive season.”