Fintotal News Analysis | SBI Lowers Processing Fee on Home, Car loans
SBI Lowers Processing Fee on Home, Car loans
Ruby Jacob, 17 Oct 2012

Based on reports State Bank of India has reduced processing fee charged on home loans and auto loans by up to 50%. This will be applicable on home loans and auto loans issued till 31 December 2012.

This would make SBI's processing charges the lowest among other banks. On home loans up to Rs 25 lakhs lowered fee of 0.125% will be charged as against 0.25% with a minimum fee of Rs 1000. On home loans above Rs 70 lakhs the fee will be Rs 5000 as against current fee of Rs 10,000.

For car loans the reduced processing fee will be 0.255% with a minimum fee of Rs 510 and maximum fee of Rs 5100 as against the earlier 0.51%.

SBI lowered interest rates on home loans and auto loans in the month of August 2012. SBI home loan rates are the cheapest at the moment.

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