Concessional loan for housing projects: SBI, CREDAI ink MoU
State-owned SBI and realtors’ body CREDAI have signed an agreement to provide loans at a concessional rate to builders as well as customers for affordable housing projects.
Major Highlights of Memorandum of Understanding:
- SBI and CREDAI have signed a memorandum of understanding (MoU) to collaborate and work towards the development of the real estate sector.
- SBI will be providing 10 basis points concession to home buyers and 10-35 basis points to CREDAI’s developer members.
- Duration of the agreement is for a period of three years.
For consumers, SBI has launched an exclusive tailor made scheme for affordable housing, ‘SBI Hamara Ghar‘, which will ease the process and enable maximum number of consumers to avail home loan for these projects.
