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No processing fee on cars till end of the year, says SBI
Posted on: 22/Aug/2017 12:45:04 PM
Ahead of the festive season, the State Bank of India has announced waiver of up to 100 percent towards car, gold and personal loan processing charges.
To note, about 0.35 percent of the loan amount apart from service tax are quoted as processing charge by SBI. Furthermore, there is minimum of Rs 2000 plus service tax applicable.
Rs 10,000 is the maximum off processing fees and with service tax extra. For auto loans, under a few schemes, there is no processing fee. On the other hand, the minimum and maximum fees for the rest is Rs 450 and Rs 9,100 respectively.
In its release, SBI stated that this waiver comes in addition to the existing slash in rates of processing fee on home loans.
Until 31st December this year, customers and their dear ones can feel happy and excited with the 100 percent waive off of processing fee towards car loan till 31st December 2017. Furthermore, SBI said that the processing fee towards gold loan will also be reduced by 50 percent till 31st October 2017.
The bank statement reads that till 30th September, customers can enjoy 50 percent waiver towards Xpress Credit – a kind of personal loan.
