SBI obtains Rs 800 cr home loans
With State Bank of India offering the lowest home loan interest rates, people who who have taken loans from other private banks switched to SBI.
In the first two months of the third quarter SBI had obtained Rs 800 crores in home loans.
Consumers with Rs 400 crore of home loans switched to SBI in November to avail the lower interest rates. SBI offers 10.1 per cent interest rate for home loans up to Rs 30 lakh, and 10.5 per cent for loans over Rs 30 lakh.
SBI is the largest home loan provider with Rs 1,09,800 crore of home loans at the end October. In October, the bank’s home loan book grew by Rs 419 crore.
HDFC holds the second position with a protfolio of Rs 1,03,930 crore. HDFC offers interest rate of 10.25 per cent to 10.75 per cent for loans up to Rs 30 lakh and 10.5 to 11.50 per cent for loans above Rs 30 lakh.
ICICI bank is on the third position in home loan market. It has a total home loan book of Rs 61,391.4 crore till September 30. It has the higher interest rate of 10.25 per cent for loans up to Rs 30 lakh and 10.5 per cent for loans above Rs 30 lakh.
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HDFC, higher interest rate, home loan, ICICI, largest home loan provider, lower interest rates, mortgages, Private banks, SBI, State Bank of India
[...] SBI obtains Rs 800 cr home loans [...]
[...] SBI obtains Rs 800 cr home loans [...]