SBI sets up new cell for housing loans

February 15: Ahmedabad, February 15: STATE Bank of India has pioneered a system called Centralised Process Cell to ensure hassle free housing loan availability to clients, said the Ahmedabad circle chief general manager Dr H C Pattnaik on Thursday. It is aimed at making purchase of house affordable for middle class buyers.

According to Pattnaik, housing colonies in cities like Ahmedabad, Vadodara, Surat and Rajkot were mushrooming as the sector's growth impetus has been fuelled by easy finance and incentive by Government by way of tax exemptions. Housing Loan product of SBI, its delivery system and rate of interest are aimed to make purchase of house affordable and hassle free for middle class, he said.

Moreover, while the processing is centralised, the sales forces provide at home services to customers. The housing loan portfolio of the Ahmedabad circles aggregates to around Rs 1,300 crore which is 53 per cent of the Bank's personal segment advances. We expect that the portfolio will cross Rs 1,400 crore by March end and next year, this is expected to touch Rs 2,000 crore, he said.

Source: The Express India