State Bank of India assumes growth of 50 percent in home loans fy 2012-13. SBI had lent Rs 2,214.30 crore in the previous fiscal in the Odisha circle, riding mainly on the boom in the realty market in the city that has not seen any slump despite sagging property sales in metros.
“We want to grow at 50 % over last fiscal. Home loan sector in bhubaneswar is doing well compared to other cities that have seen a slowdown. Home loans are currently contributing 15 per cent to our total loan portfolio,”
“SBI have a dedicated home loan sales team and loan rates are the lowest and the most attractive in the market,”
The size of home loan in Bhubaneswar and peripheral regions alone stood at Rs 716.73 crore which marks 32.36 per cent of SBI’s total home loans for the circle.
SBI home loan portfolio has exceeded Rs one lakh crore and the PSU bank has already pipped HDFC Ltd as the largest home loan lender.
Till March 2012, SBI has approved 41 residential projects in Odisha and in the current fiscal, it has approved four more projects with affordable homes in the price bracket of Rs 12-17.5 lakh.
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