SBI cuts processing fee on home loans
In order to attract customers and beat competition, State Bank of India (SBI) has cut processing fee on home loans, which is till December 31 this year.
SBI’s processing fee cut will affect it’s rivals like HDFC, ICICI Bank and Axis Bank adversely, since it has already cut it’s home loan rates.
In order to attract customers, SBI has planned to conduct home loan melas across different centres. Following the reduction in processing fee a minimum amount of Rs 1000 and a maximum of Rs 5000 will be charged on home loans.
It has said that, Rs 1000 would be charged on loans upto Rs 25 lakhs, Rs 3250 for loans between Rs 25 to Rs 75 lakhs and Rs 5000 for loans above Rs 75 lakhs.
According to sources, SBI’s home-loan marketing campaign focuses more on existing customers of other players.
Axis Bank, HDFC, Home loan interest rates, home loan marketing, Home loans, ICICI Bank, Interest rates, Loans, processing fees, State Bank of India
