SBI slashes interest rates on retail loans, waives processing fees| Check details

The State Bank of India(SBI) has cut the interest rates on gold, personal and retail loans and has also waived off the processing fee on car and home loans. Here are the full details.

Ahead of the festive season, the country's largest lender, the State Bank of India (SBI), has unveiled a series of offerings and has slashed the interest rates on retail loans and deposits. The bank also announced a 100 per cent waiver of processing fees on car loans for its customers across its channels, along with increased interest rates on deposits. This means that car loan customers can now avail the facility of up to 90 per cent on-road financing. The bank has trimmed the interest rates on auto and gold loans by 25 and 75 basis points ( 100bps = 1 percentage point) respectively, and from now on, both the loans will be available at an interest rate of 7.5 per cent per annum.