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SBI waived off half processing fee on home loans

The State Bank of India biggest money lender of home loan across the country recently in the last three months has taken major steps to bring back home loan customers from the counterparts. The bank have waived off the 50percent processing fee on home loans whereas the rivals were increasing it to offset losses on waiver of pre-payment penalty.
The senior official has said that “this move has taken to make goodwill in the market, however the home loan borrowers are loosing their confidence in banks by saying lenders are levying to them for several duties.”
In metro cities where transaction values are much higher comparatively rest of the nation. The bank has waived off the processing charges to Rs.10, 000 on housing finance above the value of Rs.75L. Also loans in the. 30 lakh to . 75 lakh range, the fee will be. 6,500, down from. 10,000. For loans below. 30 lakh, the prevailing rate of 0.25% has been retained. The new charges are affected from January 11.
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