Home loan disbursement in just 10 days: SBI

By Accommodation Times News Services

sbiThe largest bank government bank State Bank of India (SBI) is planning to reduce the disbursal period for home loan to 10 days from the current duration of 17 days, for better customer satisfaction.

The decision was announced by the bank’s chief general manager, Prashant Kumar, at an housing expo hosted by CREDAI, hea said, “We are shortening the loan disbursal period to 10 days within the coming six months. Presently, it is 17 days and last year it was 31 days.”

The bank, to achieve this time-frame, has streamlined its processes by bringing in the processing and sales and marketing departments under a single roof and implementing customer-friendly policies and initiatives.

“We are also pre-approving (housing) projects which will reduce the time for verifying the legalities involved in a loan for the project,” he said.

Further speaking on bank’s future plans, Prashant Kumar said SBI is also considering financing housing projects. He also said, that the bank is looking for a pan-India growth of 10-15 percent for loan disbursals this year.

In the last fiscal year 2014-15, SBI had disbursed Rs.50,000 crore as housing loans and the housing loan rejection rate for the bank was less than one percent. The ticket size for housing loans is Rs.20 lakh.By Accommodation Times News Services

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