SBI exceeds Rs 6 trillion AUM in residential real estate loans

India’s largest lender, the State Bank of India (SBI), said on Wednesday that it had become the country’s first financial institution to exceed 6 trillion rupees in assets under management (AUM) in the lending segment. residential real estate. SBI crossed the AUM 5 trillion rupees mark in January 2021. SBI said in a statement that it aims to make home loans affordable for all potential buyers during the current festive season.

As part of the festive bargain, SBI will offer a concession of up to 0.25% on home loans, 0.15% on top-up loans and 0.30% on home loans. The bank has further sweetened the deal by waiving home loan processing fees until January 31, 2023. The offers are specially designed with the diverse needs of buyers in all segments in mind. SBI is constantly striving to make affordable housing easily accessible to customers who dream of owning a home, SBI said.

“SBI being the leader in real estate finance, takes ownership to enable every Indian’s dream of housing. We are immensely grateful to our clients comprising of over 28+ lakh families, who have trusted and chosen us, to be their partner home-ownership journey,” SBI Chairman Dinesh Khara said in a statement. A series of process and digital initiatives undertaken over the past few years have been instrumental in our journey to Rs. 6 trillion. We are committed to being partners in nation-building and strive to fulfill our Prime Minister’s dream of – “Housing for All”, Khara said.

SBI, for the first time, launched a series of unique offerings in the mortgage segment. The interest rate for purchasers of new home loans as well as for buyouts starts at 8.40% and additional loans for furnishing/renovation/relooking from 8.80%. Commenting on the festive bargain, Alok Kumar Choudhary, Managing Director, Retail Banking and Operations, SBI, said, “SBI has always been at the forefront of stimulating consumer sentiments by regularly launching various offers. As we enter the festive season after a long period of muted celebrations due to COVID restrictions, our offerings this festive season aim to provide much-needed support to potential homebuyers as they embark on their journey to home ownership. »

“Given the strong interest in home loans across the country, we are pleased to announce a concessional interest rate and processing fee waiver for a limited period,” Choudhary said. (ANI)

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