New Delhi: State Bank of India (SBI) is offering special offers on car loan, personal loan, and gold loan on the auspicious occasion of Dussehra 2021. “Let’s celebrate this victorious day of Dussehra with special offers on Car Loan, Gold Loan and Personal Loan by SBI. On this day of victory, usher in prosperity with our special offers,” SBI tweeted. SBI customers can also avail zero processing fee on car, personal loan and gold loan.Also Read - IBPS Clerk Prelims 2021 Admit Card Released at ibps.in; Download Via Direct Link Here

SBI Loan Interest Rate

  • The public sector lending major has fixed interest rates on these loan offers. SBI customers can avail car loan from 7.25 per cent per annum. The interest rate on gold loan is at 7.50 per cent per annum. You can borrow personal loan at an interest rate from 9.60 per cent per annum.
  • There will be zero processing fee on car loan, personal loan and gold loan.
  • Meanwhile, SBI has cautioned its customers against 10 types of frauds. These are UPI fraud, KYC fraud, Email fraud, identity theft, mobile banking fraud, social media fraud, digital payment fraud, OTP fraud, lottery fraud, and remote access fraud.
  • “This Dussehra set ablaze the evils of Cyber Frauds. Stay informed. Stay Secure. Happy Dussehra! Stay alert and Safe With SBI,” SBI tweeted.

Ahead of Navratri, SBI had launched credit score-linked home loans at 6.70 per cent, irrespective of the amount. Prior to the festive offer, a borrower availing a loan greater than Rs 75 lakh had to pay an interest rate of 7.15 per cent, according to IANS report. Also Read - New COVID Strain Gets New Name ‘Omicron’, Classified As Variant Of Concern By WHO | Details Here

“With the introduction of the festive offers, a borrower can now avail home loan for any amount at a rate as low as 6.70 per cent. The offer results in a saving of 45 bps which translates to a huge interest saving of more than Rs 8 lakh, for a Rs 75 lakh loan with a 30 year tenure,” it said, IANS reported. Also Read - UPSC Aspirants Seek Extra Attempt, Plan To Stage Protest In Delhi From Nov 28. #UPSCExtraAttempt Trends on Twitter  

Besides, the SBI has removed the distinction between a salaried and a non-salaried borrower.

“Now, there is no occupation-linked interest premium being charged to prospective home loan borrowers. This would lead to a further interest saving of 15 bps to non-salaried borrowers,” the bank said.

Earlier, the rate of interest applicable for a non-salaried borrower was 15 bps higher than those of salaried ones.