SBI cuts processing fees on home loans
An initiative taken by State Bank of India (SBI) is a ray of hope for home buyers in this era of highs!
SBI has cut procession fees by half on home loans making it generous enough for the buyers.
The new charges launched has been made effective from January 11, 2012.
The bank has thought of recovering its cost and not making any extra profit out of it.
For loan above Rs 75 lakh, processing fee charged is now Rs Rs 10,000 from earlier Rs 20,000.
Now, SBI is the only bank which is taking the cheapest processing fee over major banks like ICICI Bank, HDFC Bank and Axis Bank.
Source: The Economic Times
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