What are your views on PSU banks?
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Should I rethink my choice of PSU bank, given the RBI's 30-day mandate and SBI's YONO digital transformation that have simplified processes? If a service escalation path finally bridges the convenience gap, could I actually save ₹1.5 to ₹2 lakh on a 20-year home loan?
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PSU banks have transformed from being "cheap but painful" to digital-first powerhouses. With YONO 2.0 and the RBI’s 30-day mandate for document release, the service gap with private banks has vanished.
Switching to SBI or BoB at 7.25% versus a private bank's 8.5% could realistically save you over ₹4 lakh in interest.
So, on a ₹50 lakh loan over 20 years, a mere 0.5% difference can indeed save you nearly ₹4-5 lakh in total interest. If you’re paying a premium for "service" that is now standardized by regulation, you’re essentially leaving lakhs on the table.
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