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Jan 15, 2012

SBI cuts Home Loan Processing Fee

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Business News: The largest bank of India, State Bank of India has cut the loan procession fee on the home loans. The bank cut around half of the processing fees on the home loans. The move will help to attract more and more home loan customers to choose the bank to finance their home loans.

According to media reports, the SBI will charge Rs. 10,000 as the procession fees for home loans above Rs.75 lakh instead of Rs. 20,000 processing fees. Similarly, the bank has reduced the fees on home loans between Rs. 35 to 75 lakh to Rs.6,500 from Rs.10,000. However, the processing fees for the home loans below Rs. 30 lakh to remain at 0.25 per cent.


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