SBI home loan portfolio rises Rs 4,800 cr in Q3
This is higher than the R4,700-crore growth added during the January-March quarter in 2009-10 when the teaser loan scheme was helping the bank expand its base.
The bank’s total home loan portfolio stands at around R1,13,000 crore as on December 31, a senior official of the bank said.
SBI’s home loan portfolio saw incremental disbursals of R1,800 crore in December, compared with Rs 1,400 crore in November and R1,600 crore in October, according to the official.
Over the quarter, support also came from customers switching loans to SBI under its special scheme. According to the scheme, customers are not required to bring in an interim guarantor while shifting their loans to SBI from another lender. Nearly R2,000 crore worth of home loans were added from other banks. In the three months ending September 30, the state-owned lender’s home loan portfolio had grown by 13% year-on-year to R1,08,381 crore.
In case of its nearest competitor, Housing Development Finance Corporation (HDFC), the individual loan segment stood at R1,01,900 crore on September 30. The individual loan segment includes fixed and floating rate home loans, home improvement loans, home extension loans and short-term bridging loans.
SBI currently offers a rate of 10% for home loans up to R30 lakh and a rate of 10.15% on home loans above R30 lakh, which is the lowest in the
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