The bank announced a 100% waiver of processing fees for its auto loan customers across all channels, according to a statement, adding that customers can get up to 90% road financing for their auto loans.
The lender also offers a special interest concession of 25 basis points (bps) to a customer applying for a car loan through YONO.
YONO (You Only Need One App) is the lender’s mobile banking application.
YONO users are eligible for auto loans at an interest rate starting at 7.5% per annum, the statement said.
The bank is offering a 75 basis point reduction in interest rates for customers with gold loans. They can avail gold loans from all channels of the bank at 7.5% per annum.
Additionally, it waived processing fees for all clients requesting gold loans through YONO, the statement said.
For personal loan and retirement customers, the lender announced a 100% waiver of processing fees across all channels.
For COVID warriors, that is, frontline healthcare workers applying for personal loans, a special interest concession of 50 basis points has been announced. This offer will soon be available for application under auto and gold loans, he said.
The lender said it was introducing an offer of “Platinum term deposits” for its retail depositors, to mark 75 years of independence. As part of the offer, customers can earn additional interest of up to 15 basis points on term deposits for 75 days, 75 weeks and 75 months from August 15, 2021 through September 14, 2021.
“We believe these offers will help customers save more on their loans while adding value to their festive celebrations,” Bank (retail and digital banking) chief executive CS Setty said in the statement. .
Last month, the bank announced a 100% exemption from mortgage processing fees until August 31, 2021. Its mortgage interest rate starts at 6.70%.