SBI disburses home loans via special channels
By Vaibhav Aggarwal
Jul 21, 2009
Print    Email    RSS   

Country’ largest lender, State Bank of India has been disbursing home loans via non-conventional channels.

Recently, the bank organized a three days ‘SBI Home Fair 2009' at Mayor Ramanathan Chettiar Centre in Chennai.

The bank has also entered into alliance with 12 builders to promote the home loan segment.

On the occasion, J. Chandrasekaran, Chief General Manager, State Bank of India, Chennai Circle, said that the bank is planning to create special processing channels to extend speedy service to home loan customers.

Explaining the home loan market is conducive, he said, “As builders say the prices have softened, the home loan disbursement is expected to improve.”

The bank aimed to promote its recent home loan scheme - SBI Easy Home Loan and SBI Advantage Home Loan at the exhibition.

At the exhibition, the bank also offered spot in-principle sanction letters to prospective borrowers.

The growth in home loan growth was than more than Rs. 1,000 crore in 2008-09 for the Chennai circle.

The bank has extended 1,800 home loans, amounting Rs. 240 crore during the first quarter of this fiscal in Chennai region, of which nearly 90 percent were less than Rs.30 lakh.

Chandrasekaran stated that the applicable interest rate on home loans approved at the fair would is set to be 0.25 percent less than the normal rate from the fourth year of repayment. He also added that there would be no processing fees on loans.

As many as twenty-four builders and property developers participated in the fair.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Bank of Maharashtra reduces home loan rates
Home loan rates likely to remain stable
What should you do if interest rates are...
Home Loans: How to reduce your floating rate
IBA to push for MIBOR as the benchmark rate

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive