Nation’s largest commercial bank, State Bank of India has launched a home loan website www.sbirealty.in – a one stops integrated website for home buyers. SBI is planning to boost its home loans which the bank believes as the safest lend. Considering homes loans are the low-risk bet and optional ease over anything like billions of corporate bad loans.
SBI is planning to focus more on expanding its home loan credit through such move. This new SBI-Realty will help customers to get their desired home among 3000 SBI approved projects across the country. These SBI approved housing projects are spread across 13 states and Union Territories in India. Essentially, this reaches over 30 cities including metros, semi metro, and small towns.
“This new proposition will help customers in identifying their dream house in reliable projects with higher credibility and goodwill in the market,” says, Rajnish Kumar, Managing Director – NBG, SBI.
SBI holds the largest share in the home loan market with a growth of 17% during 2016-17 which makes about Rs 2.23 lakh crore. “There are 9.5 lakh home units available on the website. Customers can compare current and past trends of prices for the properties in various localities in the city,” SBI said in a statement. It is believed that SBI reality will help customers particularly when the government is making a push towards “Housing for all” scheme by 2022.
The highest demand for home loans comes from low-cost housing and the affordable housing segment. Usually, the property prices for the above segments range from Rs 15 lakh to Rs 50-60 lakh. Apart from these, there are ready-to-move projects in huge number in metro cities like Mumbai, Delhi which prices upwards Rs 1 crore.
SBI reality website provides customer to calculate the loan amount as per their income. Also, the SBI home loan website provides the credit profile based on their income. Yet, this move also helps the state-run bank to speed up the loan processing which is blamed for the lag in the process. The SBI Realty website displays all projects which have been approved for the home loans.