The State Bank of India (SBI) has announced that it will waive mortgage loan processing fees until August 31. SBI said that customers can earn a lot with a limited time 'Dhamaka Monsoon Offer' and that it will help revive consumer sentiment. " Given that interest rates on SBI housing loans is starting at just 6.70 percent this is the best time to buy a home," the agency said in a statement. The SBI said Monsoon Dhamaka Monsoon Offer is limited-time offer and expires on August 31, 2021.

Currently, the mortgage loan processing fee is 0.40 percent.

There will be a lien of 5 basis points (0.05 percent) for mortgage loans applied through the bank's YONO application. Women Borrowers are entitled to a 0.05 percent (5 basis points) on the loan rate.

“We believe the offer of processing fee waiver will facilitate and encourage homebuyers to make decisions with ease as the interest rate is at an all-time low. We strive to be a banker for all Indians and thus be partners in building the nation,” PTI quotes CS Setty, Managing Director for SBI (Retail and Digital Banking).

The SBI has always made various offers from time to time to revive the sentiments of consumers.

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