The public sector lender, Central Bank of India, has targeted to achieve business worth Rs. 10,000 crore from home loans segment alone, this fiscal year. Also, it is developing a new home loan scheme for low cost houses.
Talking about the bank's business target, the General Manager (Retail) of Central Bank of India, Mr. Ram Sangapuri said that out of the total target of Rs. 10,000 crore, the bank has already achieved Rs. 7,900 crore and that it is hopeful of garnering the remaining business before the current fiscal year ends.
CBI is also about to launch a new scheme under its housing loans portfolio. The new scheme aims to provide home finance options to meet the requirements of economically backward people. The affordable home loans scheme provides housing finance of up to Rs. 5 lakh with no guarantee or surety, in addition to several other optional terms and conditions. Also, the bank is organizing many property expos across the country.
One such home loan and auto loan expo was held at Hyderabad on Saturday. Mr. Sangapuri further said that from the auto loans segment, the bank has planned to achieve at least Rs.2,500 crore in this fiscal.