SBI Offers Concession, 50-100% Processing Fee Waiver Till 31 August

State-owned bank State Bank of India (SBI) is reportedly offering a concession and a 50 to 100 per cent waiver on home loan processing fees, according to a recent media report.

The concession is applicable on regular home loans, Nri, flexibly, non-salaried, privileged and Apon Ghar, the report said additionally.

SBI said the processing fee and concession on home loans will go on till 31 August 2023 and shall be applicable for loans sanctioned till the August ending only.

According to the bank’s notification on its official website the processing fees for all variants of HL and Top Up there is a 50 per cent waiver in card rate, while there is a 100 per cent waiver for takeovers, resale and ready-to-move-in properties.

Furthermore, there is no processing fee waiver for Insta Home Top Up, Reverse Mortgage and EMD, the bank notified additionally.

For regular home processing fees, the bank underlined the actual processing fee without concession is 0.35 per cent of the loan amount plus the applicable goods and service tax (GST).