State Bank of India ( SBI) rose by 3%, touching the weekly high of Rs1,774, on report the bank has slashed processing fees on home loans by half
Report suggested that State Bank of India's ( SBI) move to cut processing fees on home loans is aimed at garnering a larger pie in the home loan market and giving competition to private banks and housing finance companies.
According to report, State Bank of India has reduced processing fee on home loan above Rs75 lakh to Rs10,000 from Rs20,000. For loans in the range of Rs30 to Rs75 lakh, the fees has been lowered to Rs6,500 from Rs10,000 earlier.
The processing fee for loan below Rs30 lakh continues to be 0.25% of the loan amount. The new charges are effective from Wednesday, (January 11, 2012), as per the reports.....more info
Report suggested that State Bank of India's ( SBI) move to cut processing fees on home loans is aimed at garnering a larger pie in the home loan market and giving competition to private banks and housing finance companies.
According to report, State Bank of India has reduced processing fee on home loan above Rs75 lakh to Rs10,000 from Rs20,000. For loans in the range of Rs30 to Rs75 lakh, the fees has been lowered to Rs6,500 from Rs10,000 earlier.
The processing fee for loan below Rs30 lakh continues to be 0.25% of the loan amount. The new charges are effective from Wednesday, (January 11, 2012), as per the reports.....more info