India’s largest lender State Bank of India has halved the home loan processing fee, a move which could be followed by other public sector lenders in the coming days.
The bank has slashed processing fee on home loan above Rs 75 lakh to Rs 10,000 from Rs 20,000, while for loans between Rs 30–75 lakh, the fees has been reduced to Rs 6,500 from Rs 10,000 earlier. The processing fee for loans below Rs 30 lakh continues to be 0.25 per cent of the loan amount.
The new fee structure is applicable starting January 11, 2012.
SBI Reduces Housing Loan Processing Fee From Jan. 11
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