SBI reduces processing fee on Gold,personal and car loans

Mumbai Aug 22: A good news for customers.
State Bank of India (SBI) has announced

* A waiver of up to 100 percent processing fee on the car loan.
* 50 % waiver of processing fee till Oct 31, 2017, for gold loan and personal loans.
* Earlier the country's largest lender has levied a 0.35 percent of the loan amount plus
applicable service tax as processing fees.
* The minimum amount was Rs 2,000 plus applicable service tax.
* The maximum amount of processing fees was Rs 10,000 plus service tax.
* The minimum and maximum fees for others was Rs 450 and Rs 9,100, respectively.
* currently, Auto loans and Home loans are exempt from paying a processing fee.
* The order would be applicable till Dec 31, 2017.

Finally, it's a bonanza for customers before festival season