SBI announcement of processing fees waiver on Home Loan

Country's largest lender, State Bank of India (SBI) September 28 said it will waive processing fee on home loans in approved projects. The bank is also providing special concessions up to 10 basis points (bps) on the interest rate for the customers based on their credit score and loan amount, the bank said in a press release.

Mani Rangarajan, Group CEO, Housing.com, Makaan.com & PropTiger.com

"Banks generally charge processing fees to the tune of 0.5% to 1% on home loans. As State Bank of India is one of the largest home loan providers, the waiver of processing fees augurs well for the consumers. Coming as it is on the verge of the commencement of festive season, the decision would encourage customers to opt for a dream especially considering the stable property prices and interest rate, which is at 15 year low. With SBI being the market leader, other banks and financial institutions may follow suit."

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.187.3 as compared to the previous close of Rs. 182.2. The total number of shares traded during the day was 1418789 in over 10978 trades.

The stock hit an intraday high of Rs. 188 and intraday low of 183.6. The net turnover during the day was Rs. 264338109.

Source : Equity Bulls

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