SBI expects to double its home loan portfolio in the next five years to ₹10 lakh crore
February 10, 2021
×
India’s largest bank took about 10 years to grow its home loan portfolio from ₹89,000 crore in FY2011 to cross the ₹5 lakh crore mark now, according to Chairman Dinesh Kumar Khara
State Bank of India (SBI) expects to double its home loan portfolio in the next five years to ₹10 lakh crore on the back of higher economic growth growth and demographic dividend.
India’s largest bank took about 10 years to grow its home loan portfolio from ₹89,000 crore in FY2011 to cross the ₹5 lakh crore mark now, according to Chairman Dinesh Kumar Khara.
Updated Jan 14, 2021 | 06:17 IST
Taking a joint home loan comes with its own benefits and perks. For instance, if you make your wife the primary applicant in the home loan you could get the loan at a lower interest rate Applying for a home loan? Check out the benefits of taking a joint loan | Photo Credit: BCCL
New Delhi: For many aspiring homebuyers, the current low-interest-rate scenario could be an ideal time to avail of a Home Loan. Home loans are secured and convenient loans as one can repay the loan over a period of time, through the EMI option. Most of the banks have made it mandatory to have a co-applicant while applying for a home loan. While it is not necessary for a co-applicant to be a co-owner, some banks insist on the co-owner being a co-applicant. A co-owner has a share in the property, while a co-applicant is only responsible for repaying the loan in case the primary applicant fails to service the loan. However, to avail of tax
SBI offers attractive benefits pm home loans in 2021, check details
The borrowers can avail a higher interest concession on their home loans, depending on their loan amount, creditworthiness, and property s location. The interest rates for home loans at the SBI depend on the CIBIL score (credit score). (File Image: Creative Commons)
Share
Updated: Jan 9, 2021, 09:22 AM IST
The State Bank of India (SBI) has brought out some exciting offers for its borrowers in 2021. The largest lender in the country is providing attractive concessions for those who wish to buy their dream homes this year. As a significant benefit, the SBI announced a further interest concession of up to 30 basis points (bps) on home loans while also providing a 100 per cent waiver on the processing fees of the same.
The new home loan interest rates are linked to CIBIL score and start from 6.80 per cent for loans up to Rs 30 lakh and 6.95 per cent for loans above Rs 30 lakh, a bank release said.