Fri. Mar 29th, 2024

The big race for home loans with affordable interest rates in the market still continues, inspite of all the competitors trying to take over, State Bank of India manages to remain in the lead. Besides having a well knit network of over 22,000 branches, SBI is also engaging retired employees to promote home loans, says a senior executive.

Prasanna Kumar Mishra, SBI’s deputy general manager for home loan vertical said that, home loans are a priority for them, and they are aggressively working towards achieving their goals with the help of both, the branch marketing and their marketing associates.

To offer a affordable housing segment to the builders, as a marketing substance State Bank of India is even offering up to 35 basis points concession on loans for construction to the builders. SBI chief general manager for Kolkata circle, Partha Pratim Sengupta said at an event in Kolkata that, they are tying up with builders by offering them construction finance on easier terms for affordable housing projects and this, in turn, helps with marketing of home loans.

SBI still leads in the race, again announces to lower down the home loan rates, to compete with its rivals, where, women borrowers get home loan at 8.355% for up to Rs 30 lakh, while other salaried borrowers get loans at 8.40% a year from ICICI, HDFC .

By 2022, when India completes 75 years of Independence, the government envisions housing for all citizens.