Millennium Post

SBI ups FY15 home loan disbursements by 50%

Country’s largest lender State Bank of India (SBI) on Friday said the home loan disbursement in the Bengal circle has surged by 50 per cent to Rs 2,100 crore in the 2014-15 fiscal.

“We have registered a growth of 50 per cent in disbursal of home loan in 2014-15 at Rs 2,100 crore,” SBI Chief General Manager (Bengal) Prashant Kumar said on the sidelines of an event there.

SBI is targeting a similar growth in the current fiscal. “We are aiming to take the (home loan disbursement) figure to Rs 3,000 crore in the current fiscal,” he said. On home loan

processing time, Kumar said said that the bank is making efforts to bring down the processing time to 10 days in the next six months.

In 2014-15, home loan processing time had been reduced to 17 days from 31 days in the previous year, he added.

Meanwhile, realtors’ apex body Credai (Bengal) President Sushil Mohta said that the housing sector is likely to see a price increase of 10-12 per cent due to rise in input cost.

Credai said the sector in Bengal was growing by 20-25 per cent as actual demand is mostly from users in about 15,000 units per annum market.
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