Banks to increase housing loan to govt. Employees

Deputy Chief Minister S.K Modi directed banks to expand housing loan for all state government employees eligible to avail the benefit.

Banks should increase its home loan for all those state government employees who were eligible to avail the same, he said at function where an agreement was signed between the state government and State Bank of India in this regard.

The public sector banks should liberally sanction housing loan to the people in view of growth in the housing development sector in Bihar.

He also urged the government employees to avail maximum benefit of housing loan after the agreement with the SBI.

Modi asked banks to provide car loan to the government employees at cheap rate so that the people could realise twin dreams of house and car.

SBI Managing Director A Krishna Kumar appreciated the state government for signing an agreement with the leading public sector bank for housing loan to its employees and said that it was the first such instance in the country.

Under the agreement, the SBI will sanction housing loan at the lowest interest rate without processing fees for housing loan upto Rs 30 lakh to be repayable over 30 years.